Simon Quick Advisors LLC Decreases Stock Position in Bank of America Corporation $BAC

Simon Quick Advisors LLC decreased its stake in shares of Bank of America Corporation (NYSE:BAC) by 29.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 428,627 shares of the financial services provider’s stock after selling 180,560 shares during the period. Bank of America accounts for approximately 1.0% of Simon Quick Advisors LLC’s portfolio, making the stock its 20th biggest position. Simon Quick Advisors LLC’s holdings in Bank of America were worth $20,896,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Abound Financial LLC acquired a new position in shares of Bank of America during the fourth quarter worth about $26,000. Wiser Advisor Group LLC acquired a new stake in Bank of America in the third quarter valued at approximately $27,000. Legacy Bridge LLC lifted its stake in Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 330 shares during the last quarter. CrossGen Wealth LLC acquired a new position in Bank of America during the 4th quarter worth approximately $30,000. Finally, Joseph Group Capital Management acquired a new position in Bank of America during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America News Summary

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

• Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
• Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
• Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
• Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo

Analyst Upgrades and Downgrades

BAC has been the topic of a number of analyst reports. Barclays raised their price objective on shares of Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup boosted their target price on shares of Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. UBS Group increased their target price on Bank of America from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Oppenheimer cut Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Finally, Wells Fargo & Company lifted their price target on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.77.

Bank of America Stock Down 0.5%

BAC stock opened at $61.18 on Friday. Bank of America Corporation has a one year low of $44.75 and a one year high of $62.12. The company has a fifty day moving average of $55.30 and a 200-day moving average of $53.15. The stock has a market capitalization of $434.16 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.81 and a current ratio of 0.83.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $30.78 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, analysts expect that Bank of America Corporation will post 4.64 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed 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 dividend payout ratio (DPR) is 25.69%.

Insider Buying and Selling

In related news, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

About Bank of America

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.