Independent Financial Group LLC Buys Shares of 63,204 Bank of America Corporation $BAC

Independent Financial Group LLC purchased a new position in Bank of America Corporation (NYSE:BAC) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 63,204 shares of the financial services provider’s stock, valued at approximately $3,081,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Handelsbanken Fonder AB raised its position in shares of Bank of America by 53.0% during the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock valued at $254,625,000 after purchasing an additional 1,603,080 shares during the period. Legal & General Group Plc boosted its holdings in Bank of America by 3.4% in the 4th quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider’s stock worth $2,497,655,000 after buying an additional 1,487,809 shares during the period. Nisa Investment Advisors LLC increased its stake in Bank of America by 2.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,905,348 shares of the financial services provider’s stock worth $159,794,000 after buying an additional 71,307 shares in the last quarter. Mondrian Investment Partners LTD increased its stake in Bank of America by 34.3% in the 4th quarter. Mondrian Investment Partners LTD now owns 2,175,401 shares of the financial services provider’s stock worth $119,647,000 after buying an additional 555,063 shares in the last quarter. Finally, Ritholtz Wealth Management raised its holdings in Bank of America by 9.9% during the fourth quarter. Ritholtz Wealth Management now owns 231,018 shares of the financial services provider’s stock valued at $12,706,000 after acquiring an additional 20,819 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America News Roundup

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
• Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
• Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
• Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo

Bank of America Stock Down 0.5%

Shares of NYSE:BAC opened at $61.18 on Friday. The company has a market cap of $434.16 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.99 and a beta of 1.17. Bank of America Corporation has a 12 month low of $44.75 and a 12 month high of $62.12. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.23. The company has a 50-day moving average price of $55.30 and a 200 day moving average price of $53.15.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.08. The business had revenue of $8.08 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period last year, the company earned $0.89 EPS. As a group, equities research analysts predict that Bank of America Corporation will post 4.64 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, June 5th. Bank of America’s dividend payout ratio is presently 25.69%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BAC. Keefe, Bruyette & Woods increased their price objective on shares of Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Friday, April 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Bank of America in a research note on Tuesday. Barclays lifted their price target on shares of Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Autonomous Res decreased their price target on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.77.

Insider Transactions at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the sale, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

About Bank of America

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.