MassMutual Private Wealth & Trust FSB Sells 26,954 Shares of Bank of America Corporation $BAC

MassMutual Private Wealth & Trust FSB cut its stake in shares of Bank of America Corporation (NYSE:BAC) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 619,974 shares of the financial services provider’s stock after selling 26,954 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Bank of America were worth $35,326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BAC. Norges Bank bought a new stake in shares of Bank of America in the fourth quarter worth $4,774,210,000. Capital International Investors purchased a new stake in Bank of America during the fourth quarter valued at $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Bank of America by 640.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock valued at $2,399,798,000 after acquiring an additional 40,235,201 shares during the period. Vanguard Group Inc. lifted its holdings in Bank of America by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock valued at $35,809,225,000 after acquiring an additional 23,351,183 shares during the period. Finally, Cardano Risk Management B.V. boosted its position in Bank of America by 914.5% in the fourth quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider’s stock worth $1,380,239,000 after purchasing an additional 22,621,546 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Price Performance

NYSE:BAC opened at $62.47 on Tuesday. The business’s 50-day simple moving average is $57.71 and its two-hundred day simple moving average is $53.60. Bank of America Corporation has a 52 week low of $44.75 and a 52 week high of $62.99. The stock has a market cap of $443.30 billion, a PE ratio of 14.33, a P/E/G ratio of 0.99 and a beta of 1.17. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, September 4th. Bank of America’s payout ratio is presently 25.69%.

Analysts Set New Price Targets

BAC has been the subject of a number of research reports. Barclays upped their target price 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. Robert W. Baird lifted their price target on shares of Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price objective on shares of Bank of America from $62.50 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Piper Sandler upped their price objective on Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of Bank of America in a report on Tuesday, July 14th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.08.

More Bank of America News

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

• Positive Sentiment: Financial stocks, including BAC, have benefited from record highs following strong second-quarter bank results and a rotation away from technology shares. This broader sector momentum is providing a favorable backdrop for Bank of America. Financials Hit Record Highs as the AI Trade Unravels—Can They Keep Leading?
• Positive Sentiment: Bank of America reiterated a bullish view on Apple, arguing that investors may be underestimating the technology company’s outlook. The call highlights the strength of BAC’s research franchise and could support its investment-banking and wealth-management relationships. Bank of America doubles down on Apple stock for rest of 2026
• Positive Sentiment: BAC announced more than $1 million in additional funding for Texas flood recovery, bringing its total regional support to $3 million. The initiative may strengthen the bank’s community reputation, although the direct financial impact is limited. BofA Commits Over $1 Million to Support Texas Flood Recovery
• Neutral Sentiment: Bank of America adjusted its stake in Umicore around the 3% disclosure threshold. The filing indicates a change in holdings but does not by itself signal a material shift in BAC’s operating outlook. Bank of America adjusts stake in Umicore around 3% disclosure threshold
• Negative Sentiment: Citi hired Rohan Sen, a Bank of America managing director who spent 11 years at the company, to lead technology-services coverage. The departure is a modest negative for BAC’s investment-banking talent base, though the broader hiring impact is unclear. Citi Recruits Bank of America Vet Rohan Sen Amid Investment Banking Hiring Spree
• Negative Sentiment: A new disclosure regarding the OCC’s 2024 consent order says resolving the matter could include monetary penalties. The uncertainty over potential costs and continued compliance work is the clearest company-specific risk in the latest news. Bank of America’s new disclosure highlights compliance risk

Bank of America 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.