Raab & Moskowitz Asset Management LLC Trims Holdings in Bank of America Corporation $BAC

Raab & Moskowitz Asset Management LLC lowered its stake in shares of Bank of America Corporation (NYSE:BAC) by 12.1% in the first quarter, Holdings Channel reports. The institutional investor owned 74,146 shares of the financial services provider’s stock after selling 10,190 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Bank of America were worth $3,615,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Abound Financial LLC bought a new position in Bank of America during the 4th quarter valued at $26,000. Legacy Bridge LLC grew its holdings 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 acquiring an additional 330 shares in the last quarter. Wiser Advisor Group LLC bought a new stake in shares of Bank of America in the 3rd quarter worth about $27,000. CrossGen Wealth LLC bought a new stake in shares of Bank of America in the 4th quarter worth about $30,000. Finally, Joseph Group Capital Management acquired a new stake in shares of Bank of America in the 4th quarter valued at about $32,000. Institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Evercore set a $63.00 price target on shares of Bank of America and gave the stock an “outperform” rating in a research report on Monday, July 6th. Truist Financial boosted their price objective on Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Morgan Stanley upped their price objective 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. Citigroup increased their target price on Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Piper Sandler lifted their target price on Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America 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 in the company, valued at $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by insiders.

Bank of America Trading Up 0.6%

NYSE BAC opened at $62.07 on Friday. Bank of America Corporation has a one year low of $44.75 and a one year high of $62.99. The company has a 50-day simple moving average of $57.49 and a 200-day simple moving average of $53.55. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market capitalization of $440.51 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17.

Bank of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued 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 yield of 2.1%. The ex-dividend date of this dividend is Friday, September 4th. Bank of America’s dividend payout ratio is 25.69%.

More Bank of America News

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

• Positive Sentiment: Analysts raised their outlook for BAC. JPMorgan reportedly expects Bank of America’s stock price to rise, while another analyst increased the FY2026 earnings-per-share estimate. These revisions reinforce expectations for stronger profitability and support the stock’s valuation. Bank of America stock price expected to rise FY2026 EPS estimate increased
• Positive Sentiment: Cybersecurity acquisition strengthens operational defenses. Bank of America plans to acquire U.K.-based information-security consultancy MDSec Consulting, subject to regulatory approval and expected to close in the fourth quarter of 2026. The deal is intended to bolster defenses against increasingly sophisticated AI-driven cyberattacks and ransomware. Financial terms were not disclosed, limiting the immediate earnings impact. Bank of America buys cybersecurity firm
• Positive Sentiment: Merrill Lynch is adding a sizable wealth-management team. A 14-person team managing approximately $13 billion in client assets is moving from Morgan Stanley’s Graystone Consulting. The recruitment could expand Merrill’s fee-based wealth-management revenue and deepen its affluent-client franchise. Merrill Lynch recruits $13 billion team
• Neutral Sentiment: Higher-for-longer interest rates present both benefits and risks. A hawkish Federal Reserve pause may support Bank of America’s net interest income, but prolonged high rates can pressure loan demand and increase credit-quality concerns. The broader market is also entering an uncertain August trading period, which could amplify volatility.
• Neutral Sentiment: Valuation remains a focus after substantial gains. One analysis says BAC still appears reasonably valued or discounted despite having more than doubled over three years. The stock is above both its 50-day and 200-day moving averages and near its annual high, suggesting strong momentum but also leaving shares more sensitive to disappointing results or guidance. Bank of America valuation and AI expansion

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.