Mirae Asset Global Investments Co. Ltd. Makes New Investment in Bank of America Corporation $BAC

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Bank of America Corporation (NYSE:BAC) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,877,740 shares of the financial services provider’s stock, valued at approximately $102,205,000.

Several other institutional investors have also modified their holdings of BAC. Bamco Inc. NY lifted its stake in Bank of America by 45.4% during the second quarter. Bamco Inc. NY now owns 40,994 shares of the financial services provider’s stock worth $2,336,000 after purchasing an additional 12,794 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in Bank of America in the second quarter valued at approximately $4,089,000. Bernicke Wealth Management Ltd. purchased a new position in Bank of America in the second quarter valued at approximately $2,132,000. Aspiriant LLC raised its holdings in Bank of America by 34.3% during the third quarter. Aspiriant LLC now owns 48,877 shares of the financial services provider’s stock worth $2,660,000 after purchasing an additional 12,479 shares in the last quarter. Finally, Lakeshore Capital Group Inc. raised its holdings in Bank of America by 111.8% during the third quarter. Lakeshore Capital Group Inc. now owns 33,642 shares of the financial services provider’s stock worth $1,831,000 after purchasing an additional 17,759 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BAC shares. UBS Group reduced their price objective on shares of Bank of America from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Argus set a $70.00 target price on shares of Bank of America in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their price target on shares of Bank of America from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Citigroup reduced their price target on shares of Bank of America from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, October 15th. Finally, TD Cowen decreased their price objective on shares of Bank of America from $60.00 to $56.00 and set a “hold” rating for the company in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.70.

More Bank of America News

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 NYSE BAC opened at $50.03 on Friday. The stock has a market cap of $349.85 billion, a P/E ratio of 11.88, a P/E/G ratio of 0.87 and a beta of 1.21. Bank of America Corporation has a twelve month low of $46.12 and a twelve month high of $65.22. The stock has a 50 day moving average of $56.44 and a two-hundred day moving average of $54.96. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $30.58 billion. During the same quarter last year, the business posted $1.06 earnings per share. 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 year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Friday, December 4th will be given 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 dividend payout ratio (DPR) is presently 30.40%.

About Bank of America

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.