Harmony Asset Management LLC Acquires 25,637 Shares of Bank of America Corporation $BAC

Harmony Asset Management LLC boosted its holdings in Bank of America Corporation (NYSE:BAC) by 106.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,675 shares of the financial services provider’s stock after buying an additional 25,637 shares during the period. Harmony Asset Management LLC’s holdings in Bank of America were worth $2,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of 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 worth $35,809,225,000 after acquiring an additional 23,351,183 shares during the period. Norges Bank bought a new stake in shares of Bank of America during the 4th quarter valued at $4,774,210,000. Bank of New York Mellon Corp lifted its holdings in Bank of America by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock worth $3,169,062,000 after purchasing an additional 2,929,779 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Bank of America by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock worth $2,958,110,000 after purchasing an additional 1,105,833 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Bank of America by 5.9% in the 4th quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider’s stock worth $2,594,488,000 after purchasing an additional 2,611,776 shares during the period. Institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BAC. Keefe, Bruyette & Woods upped their price target on Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial raised their price objective on shares of Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer cut shares of Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Piper Sandler upped their target price on shares of Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Finally, The Goldman Sachs Group increased their target price on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.77.

Bank of America Stock Performance

NYSE:BAC opened at $61.62 on Thursday. The stock has a market cap of $437.31 billion, a P/E ratio of 14.13, a PEG ratio of 1.01 and a beta of 1.17. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The business’s 50-day moving average price is $54.93 and its two-hundred day moving average price is $53.05. Bank of America Corporation has a twelve month low of $44.75 and a twelve month high of $62.03.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.13 by $0.08. The company 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%.Bank of America’s revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. As a group, equities analysts predict that Bank of America Corporation will post 4.51 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, June 5th. Bank of America’s payout ratio is currently 27.72%.

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider 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 Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by insiders.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America beat Q2 expectations, with EPS of $1.21 topping estimates and revenue rising sharply year over year, helped by stronger net interest income, trading, and investment banking. Bank of America Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Analysts raised targets after the earnings release, including Truist, KBW, Barclays, and Wells Fargo, signaling growing confidence in BAC’s earnings outlook and potential upside. These Analysts Boost Their Forecasts On Bank of America Following Upbeat Q2 Results
• Positive Sentiment: Management said the consumer is still spending, with travel, entertainment, gas, and other discretionary categories holding up, which supports loan demand and fee-generating activity. Bank of America Says Consumer Unit Earned Nearly $3.3 Billion as Spending Holds Up
• Positive Sentiment: BofA highlighted durable growth drivers on its earnings call, including rising NII, loan and deposit growth, operating leverage, and AI-driven productivity gains. Bank of America Q2 Earnings Call Points to Durable Growth Drivers
• Neutral Sentiment: Separate articles also noted broader optimism around the U.S. economy and financial stocks, which may be helping sentiment across the banking sector. Money Is Suddenly Rotating Into Financial Stocks. Here’s What’s Driving It — and Whether the Move Lasts.

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.