Flputnam Investment Management Co. Purchases New Stake in Bank of America Corporation $BAC

Flputnam Investment Management Co. purchased a new stake in shares of Bank of America Corporation (NYSE:BAC) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 706,054 shares of the financial services provider’s stock, valued at approximately $40,231,000.

A number of other large investors have also added to or reduced their stakes in BAC. Abound Financial LLC bought a new position in shares of Bank of America during the fourth quarter valued at about $26,000. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America during the third quarter worth about $27,000. CrossGen Wealth LLC bought a new stake in shares of Bank of America in the fourth quarter worth about $30,000. Joseph Group Capital Management bought a new stake in shares of Bank of America in the fourth quarter worth about $32,000. Finally, Vermillion Wealth Management Inc. increased its holdings in Bank of America by 199.1% during the 1st quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 438 shares during the period. Institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on BAC. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price target on shares of Bank of America in a research report on Tuesday, July 14th. Truist Financial lifted their price objective on Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Morgan Stanley boosted their target price on Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Argus set a $70.00 target price on Bank of America in a report on Wednesday, July 15th. Finally, Evercore set a $63.00 price target on Bank of America and gave the stock an “outperform” rating in a research note on Monday, July 6th. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America and PNC tied for first place in Keynova Group’s 2026 Mortgage-Home Equity Scorecard for digital customer experience. The recognition supports BAC’s technology investments and its competitive position in mortgage and home-equity services. Home Lenders Enhance Digital Impact with Accelerated Closing and Funding, Relationship Value-Adds and Visual Consumer-Education Content
• Positive Sentiment: BAC appointed new leadership for its Asia-Pacific industrials investment-banking group, including Yuta Komori as chair and Meng Gao and Masashi Toda as co-heads. The move could support future advisory and capital-markets growth in the region. Bank of America names new Asia Pacific industrials banking leadership team
• Neutral Sentiment: Bank of America’s market strategists continued to attract attention with views on artificial-intelligence spending, bond-market risks, gold and global economic conditions. These calls may enhance the firm’s research profile but are not direct earnings catalysts for BAC.
• Negative Sentiment: A Seeking Alpha analysis maintained a “Hold” view, arguing that BAC’s current valuation already assumes approximately a 16% terminal return on tangible common equity. With shares trading well above their 200-day average and near the 52-week high, investors may be demanding strong future profitability. Bank of America: Current Price Already Requires A 16 Percent Terminal ROTCE
• Negative Sentiment: Bank of America was among six financial institutions agreeing to an $86.4 million settlement resolving allegations of Mexican bond-market manipulation. Although the cost is spread across the banks, the agreement adds legal and regulatory expense and reputational risk. Major US Banks Agree to $86.4M Settlement in Mexican Bond-Rigging Case
• Negative Sentiment: Barclays appointed Mike Joo, who is joining from Bank of America, as an investment-bank co-CEO. The departure creates a potential leadership and talent-retention concern for BAC’s investment-banking franchise. Barclays names investment bank co-CEOs

Bank of America Stock Performance

Shares of BAC opened at $63.17 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. The stock has a market cap of $441.73 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.03 and a beta of 1.17. The business’s 50 day moving average price is $60.35 and its 200-day moving average price is $54.56. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22.

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 for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The company had revenue of $31.56 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 firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the company earned $0.89 EPS. Equities research analysts anticipate that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.

Bank of America Increases Dividend

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

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.