Bull Harbor Capital LLC Purchases New Stake in Bank of America Corporation $BAC

Bull Harbor Capital LLC acquired a new position in shares of Bank of America Corporation (NYSE:BAC) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 62,505 shares of the financial services provider’s stock, valued at approximately $3,047,000. Bank of America makes up 0.8% of Bull Harbor Capital LLC’s portfolio, making the stock its 15th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of BAC. Brighton Jones LLC grew its stake in Bank of America by 30.0% in the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock worth $4,785,000 after purchasing an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Bank of America by 40.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 6,174 shares during the last quarter. Jump Financial LLC grew its position in shares of Bank of America by 38.4% in the 2nd quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock worth $3,108,000 after acquiring an additional 18,227 shares in the last quarter. Nebula Research & Development LLC acquired a new position in shares of Bank of America in the 2nd quarter worth approximately $1,396,000. Finally, Vivaldi Capital Management LP increased its holdings in shares of Bank of America by 4.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 355 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

BAC has been the topic of several research analyst reports. The Goldman Sachs Group raised their price objective on Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Robert W. Baird boosted their target price on shares of Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods raised their price target on shares of Bank of America from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. 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, July 15th. Finally, UBS Group boosted their price objective on shares of Bank of America from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Bank of America Stock Down 2.4%

BAC stock opened at $61.09 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a fifty-two week low of $44.75 and a fifty-two week high of $62.99. The firm’s 50-day simple moving average is $57.08 and its 200 day simple moving average is $53.45. The stock has a market cap of $433.55 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.00 and a beta of 1.17.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates of $30.78 billion. During the same period in the previous year, the business posted $0.89 EPS. Bank of America’s revenue was up 19.6% on a year-over-year basis. As a group, sell-side analysts predict that Bank of America Corporation will post 4.67 EPS for the current year.

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.32 per share. This is a boost from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, September 4th. Bank of America’s payout ratio is presently 25.69%.

Insider Activity

In related news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Bank of America News Summary

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

• Positive Sentiment: JPMorgan raised its BAC price target and rating. JPMorgan increased its target from $62.50 to $68.00 and assigned an “overweight” rating, implying meaningful potential upside based on the referenced price. Benzinga article
• Positive Sentiment: Higher earnings forecasts support the long-term outlook. Erste Group raised its FY2026 EPS estimate for Bank of America to $4.64 from $4.53 and its FY2027 estimate to $5.20 from $5.13. The FY2027 forecast is above the broader consensus cited in the report. Erste Group earnings estimate article
• Positive Sentiment: Analyst commentary remains generally favorable. Recent coverage highlights BAC’s second-quarter performance relative to diversified-bank peers and identifies the company as a potential beneficiary of artificial-intelligence adoption through operating-efficiency and margin gains. Bank of America AI beneficiaries article
• Neutral Sentiment: Bank of America disclosed changes in its Umicore stake. Umicore reported that BAC repeatedly crossed the 3% transparency threshold, with the position remaining around that level. The disclosure does not indicate a material change to BAC’s core business. Umicore stake article
• Negative Sentiment: Broad bank-sector selling weighed on BAC. Goldman Sachs, Morgan Stanley, JPMorgan, Citigroup, Wells Fargo and Bank of America all declined as investors positioned ahead of the Fed meeting. Uncertainty over whether rates will remain unchanged—or potentially move higher—has increased volatility across financial stocks. Bank stocks ahead of Fed meeting article

Bank of America Company Profile

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.