Bank of America Corporation $BAC Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. decreased its position in shares of Bank of America Corporation (NYSE:BAC) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 134,769 shares of the financial services provider’s stock after selling 11,956 shares during the quarter. Cullinan Associates Inc.’s holdings in Bank of America were worth $7,679,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Turim 21 Investimentos Ltda. acquired a new stake in shares of Bank of America in the 2nd quarter valued at about $25,000. Abound Financial LLC acquired a new position in Bank of America during the fourth quarter worth approximately $26,000. Wiser Advisor Group LLC acquired a new position in Bank of America during the third quarter worth approximately $27,000. CrossGen Wealth LLC purchased a new stake in Bank of America in the fourth quarter valued at approximately $30,000. Finally, Vermillion Wealth Management Inc. lifted its stake in Bank of America by 199.1% in the first quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider’s stock valued at $32,000 after buying an additional 438 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of NYSE:BAC opened at $61.99 on Tuesday. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The company has a 50-day moving average price of $61.27 and a 200 day moving average price of $54.95. The company has a market cap of $433.48 billion, a P/E ratio of 14.22, a PEG ratio of 0.99 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23.

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. The company had revenue of $31.56 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 EPS. Research analysts predict that Bank of America Corporation will post 4.68 earnings per share for the current year.

Bank of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. Bank of America’s dividend payout ratio (DPR) is presently 25.69%.

Key Bank of America News

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

• Positive Sentiment: AI investment is supporting commercial-loan growth. U.S. business lending reached $2.93 trillion, a 10% year-over-year increase and the fastest growth since March 2023. Bank of America said artificial-intelligence capital spending is a key driver, creating potential demand for financing and related banking services. US Banks Want a Bigger Piece Of The AI Trade: Here’s How They’re Getting It
• Positive Sentiment: Net interest income is showing strong momentum. BAC generated $31.7 billion of net interest income in the first half of 2026, up 9% from a year earlier, helped by loan and deposit growth and asset repricing. Analysts expect the trend to continue through the rest of the year, supporting revenue and earnings. BAC Records 9% Y/Y Growth in NII in 1H26: Will the Uptrend Continue?
• Positive Sentiment: Bank of America’s broader market outlook has become less defensive. Its market signals moved from “red” to “yellow,” indicating reduced concern about an immediate bear market. This could improve sentiment toward economically sensitive financial stocks, although the bank continues to flag valuation and credit risks. BofA turns S&P 500 signals from red to yellow: What to buy now
• Neutral Sentiment: Higher rate expectations create both benefits and risks. Rising odds of a Federal Reserve rate hike could support loan yields and net interest income, but may also slow economic activity, pressure borrowers and increase credit-loss concerns. Fed Rate Hike Bets Are Back
• Negative Sentiment: Valuation is limiting upside. After a strong six-month advance and solid quarterly results, commentary has highlighted BAC as a relatively risky choice at current levels, raising profit-taking concerns if earnings growth or market conditions weaken. 3 Reasons BAC is Risky and 1 Stock to Buy Instead

Analyst Ratings Changes

BAC has been the topic of a number of research reports. Argus set a $70.00 target price on shares of Bank of America in a research report on Wednesday, July 15th. Oppenheimer downgraded shares of Bank of America from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Wells Fargo & Company increased their price target on shares of Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Morgan Stanley raised their price objective on shares of Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

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.