Rathbones Group PLC Sells 58,609 Shares of Bank of America Corporation $BAC

Rathbones Group PLC lowered its stake in Bank of America Corporation (NYSE:BAC) by 6.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 856,848 shares of the financial services provider’s stock after selling 58,609 shares during the quarter. Rathbones Group PLC’s holdings in Bank of America were worth $41,771,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Abound Financial LLC acquired a new position in Bank of America in the fourth quarter valued at about $26,000. Wiser Advisor Group LLC bought a new stake in shares of Bank of America in the 3rd quarter valued at about $27,000. Legacy Bridge LLC raised its position in shares of Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 330 shares during the period. CrossGen Wealth LLC bought 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 fourth quarter valued at approximately $32,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Performance

BAC opened at $62.07 on Monday. The business’s 50-day moving average price is $57.49 and its two-hundred day moving average price is $53.54. Bank of America Corporation has a 1 year low of $44.75 and a 1 year high of $62.99. The company has a market capitalization of $440.51 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 0.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This is a boost 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 2.1%. Bank of America’s dividend payout ratio is 25.69%.

Insider Transactions at Bank of America

In related 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 sale, the insider owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BAC shares. Argus set a $70.00 target price on shares of Bank of America in a research note on Wednesday, July 15th. UBS Group lifted their price target on shares of Bank of America from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Morgan Stanley boosted their price target on shares of Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, July 21st. Finally, Robert W. Baird raised their price objective on Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Bank of America News Summary

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.