AMG National Trust Bank Increases Stock Position in Bank of America Corporation $BAC

AMG National Trust Bank increased its position in Bank of America Corporation (NYSE:BAC) by 29.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,026 shares of the financial services provider’s stock after buying an additional 13,297 shares during the quarter. AMG National Trust Bank’s holdings in Bank of America were worth $2,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BAC. Abound Financial LLC acquired a new position in shares of Bank of America in the 4th quarter valued at about $26,000. Wiser Advisor Group LLC acquired a new stake in Bank of America during the 3rd quarter worth approximately $27,000. Legacy Bridge LLC increased its position in Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 330 shares in the last quarter. CrossGen Wealth LLC purchased a new position in Bank of America in the fourth quarter valued at approximately $30,000. Finally, Joseph Group Capital Management purchased a new position in Bank of America in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Oppenheimer downgraded shares of Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. UBS Group raised their target price on shares of Bank of America from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. HSBC lifted their target price on shares of Bank of America from $55.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, April 16th. The Goldman Sachs Group upped their price target on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, Truist Financial increased their price target on Bank of America from $61.00 to $64.00 and gave the company a “buy” rating in a report on Friday, June 26th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.60.

Bank of America Stock Performance

Bank of America stock opened at $60.64 on Wednesday. Bank of America Corporation has a 12-month low of $44.75 and a 12-month high of $61.21. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $430.32 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The firm’s fifty day moving average price is $54.77 and its 200 day moving average price is $53.01.

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 $8.08 billion during the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 EPS. On average, research analysts forecast that Bank of America Corporation will post 4.51 EPS for the current fiscal year.

Bank of America Dividend Announcement

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

Bank of America News Summary

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

• Positive Sentiment: Bank of America reported Q2 earnings of $1.21 per share, above Wall Street expectations, with revenue up sharply year over year. The beat was driven by higher net interest income, record trading activity, stronger investment banking fees, and continued growth in wealth management and consumer banking. Bank of America Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Management said consumers are staying current on bills and still spending on discretionary items like travel and entertainment, easing fears that inflation and price pressures would hurt the bank’s core consumer franchise. BofA Sees ‘Strong’ Consumer, Bucking Fears of Price Pressures
• Positive Sentiment: CEO Brian Moynihan described the U.S. economy as “more durable than expected,” and the bank highlighted that digital banking is becoming a major deposit engine, supporting funding stability and long-term profitability. Digital Banking Becomes Bank of America’s Deposit Engine
• Positive Sentiment: Analysts responded favorably, with Jefferies reiterating a Buy rating and a $75 price target, citing earnings upside, NII growth, and an expanding capital markets franchise. Bank of America Earns Buy Rating on Strong Earnings Upside
• Neutral Sentiment: Bank of America also announced redemptions of senior notes, a routine debt-management move that should have limited immediate impact on the stock. Bank of America Announces Redemptions of Senior Notes

Insider Buying and Selling

In related news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction dated 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 owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

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.