1,877,740 Shares of Bank of America Corporation $BAC Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Bank of America Corporation (NYSE:BAC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,877,740 shares of the financial services provider’s stock, valued at approximately $102,205,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc purchased a new position in Bank of America in the second quarter worth approximately $2,571,060,000. Deutsche Bank AG purchased a new stake in Bank of America in the second quarter valued at $2,359,172,000. Bank of New York Mellon Corp acquired a new position in shares of Bank of America in the 2nd quarter valued at $2,313,953,000. Amundi lifted its stake in shares of Bank of America by 12.5% in the 1st quarter. Amundi now owns 42,385,115 shares of the financial services provider’s stock valued at $2,066,274,000 after purchasing an additional 4,721,969 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Bank of America by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider’s stock worth $1,517,599,000 after purchasing an additional 561,413 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America News Summary

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

• Positive Sentiment: Bank of America’s market commentary remains constructive on several growth initiatives. Analysts point to branch expansion and artificial-intelligence investments as potential drivers of deposit growth, stronger customer relationships and improved efficiency. Can BAC’s Branch Expansion & AI Push Drive Long-Term Growth?
• Positive Sentiment: Bank of America expanded its physical banking presence by opening new financial centers in Wisconsin, supporting its long-term strategy to deepen retail relationships and gather deposits. Bank of America expands in-person reach with new financial centers in Wisconsin
• Neutral Sentiment: Bank of America’s investment strategists highlighted technology-company bonds as potentially more attractive than tech stocks, reflecting a broader shift toward credit and quality assets. The view may benefit the bank’s investment-banking and fixed-income businesses, but it does not directly change BAC’s earnings outlook. Tech Bonds Are ‘Diamonds in the Rough’: Bank of America’s Hartnett Says
• Negative Sentiment: Senator Elizabeth Warren urged the Justice Department to investigate Bank of America and potentially its executives over alleged anti-money-laundering and sanctions violations. The pressure follows a reported $1.21 billion penalty and raises concerns about additional fines, remediation costs and reputational damage. Warren urges DOJ criminal probe of Bank of America over anti-money-laundering violations
• Negative Sentiment: Multiple law firms promoted a securities-fraud class action covering investors who purchased BAC shares from August 1, 2025, through October 13, 2026. The repeated notices and December 15, 2026 lead-plaintiff deadline reinforce near-term litigation overhang, although the allegations have not been adjudicated. ROSEN securities class action notice
• Negative Sentiment: Bank of America was also sued over its use of mandatory arbitration in employee disputes, adding another legal and compliance concern for investors. Bank of America sued over mandatory arbitration for employee disputes

Bank of America Price Performance

Shares of BAC opened at $50.03 on Friday. The company has a market cap of $349.85 billion, a P/E ratio of 11.88, a PEG ratio of 0.87 and a beta of 1.21. Bank of America Corporation has a fifty-two week low of $46.12 and a fifty-two week high of $65.22. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.17. The firm’s 50 day moving average price is $56.44 and its 200 day moving average price is $54.96.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.02). Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The business had revenue of $29.96 billion during the quarter, compared to analyst estimates of $30.58 billion. During the same quarter last year, the firm earned $1.06 EPS. The business’s revenue was up 3.2% on a year-over-year basis. On average, research analysts forecast that Bank of America Corporation will post 4.52 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Friday, December 4th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, December 4th. Bank of America’s payout ratio is presently 30.40%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BAC shares. Phillip Securities raised Bank of America to a “strong-buy” rating in a research report on Friday, October 16th. Barclays decreased their target price on shares of Bank of America from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Thursday, October 15th. Keefe, Bruyette & Woods lowered their target price on shares of Bank of America from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, October 15th. Jefferies Financial Group dropped their price target on shares of Bank of America from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Finally, Morgan Stanley reduced their price target on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $62.70.

Bank of America Company Profile

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.