Rakuten Investment Management Inc. acquired a new stake in Bank of America Corporation (NYSE:BAC – Free Report) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 1,166,504 shares of the financial services provider’s stock, valued at approximately $64,111,000.
A number of other hedge funds have also recently bought and sold shares of the company. Total Clarity Wealth Management Inc. lifted its stake in shares of Bank of America by 3.6% during the second quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 168 shares during the period. Orca Wealth Management LLC increased its position in Bank of America by 0.5% in the second quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider’s stock worth $1,999,000 after purchasing an additional 179 shares during the period. Financial Consulate Inc. raised its holdings in Bank of America by 4.0% during the 2nd quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 181 shares during the last quarter. Bedel Financial Consulting Inc. raised its holdings in Bank of America by 1.1% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider’s stock worth $938,000 after purchasing an additional 184 shares during the last quarter. Finally, GatePass Capital LLC lifted its position in Bank of America by 3.6% during the 1st quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 190 shares during the period. 70.71% of the stock is currently owned by institutional investors.
Key Bank of America News
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: ETFs reportedly purchased $24.4 million of BAC shares on Oct. 29, a supportive—but limited and backward-looking—signal of fund demand. Article: ETFs Bought $24.4 Million of Bank of America
- Neutral Sentiment: UBS cut its price target to $62 from $67 but maintained a Buy rating, leaving its view positive while signaling a more cautious valuation outlook. Article: UBS price-target update
- Negative Sentiment: Several law firms publicized a securities class action filed for investors who bought BAC shares from Aug. 1, 2025, through Oct. 13, 2026. The Dec. 15, 2026 lead-plaintiff deadline and repeated notices keep potential litigation costs and claims in focus. Article: Kaplan Fox class-action notice
- Negative Sentiment: An investor alert highlighted Senator Elizabeth Warren’s call for the Justice Department to investigate Bank of America and executives after the bank admitted willful violations of federal anti-money-laundering laws. A potential criminal investigation would add regulatory, legal, and reputational uncertainty; the article reports a call for a probe, not that one has begun. Article: BAC investor alert on scrutiny and class action
Bank of America Price Performance
BAC opened at $49.59 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.17. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.22. The company has a fifty day simple moving average of $55.94 and a 200 day simple moving average of $54.92. The stock has a market cap of $342.20 billion, a P/E ratio of 11.78, a P/E/G ratio of 0.87 and a beta of 1.19.
Bank of America (NYSE:BAC – Get Free Report) last posted its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share 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 for the quarter, compared to the consensus estimate of $30.58 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. On average, research analysts expect that Bank of America Corporation will post 4.51 EPS for the current year.
Bank of America Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, December 4th. Bank of America’s payout ratio is 30.40%.
Analyst Upgrades and Downgrades
BAC has been the subject of several analyst reports. Royal Bank Of Canada lowered their price target on shares of Bank of America from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Evercore set a $62.00 price objective on shares of Bank of America in a report on Thursday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a report on Monday, October 19th. Keefe, Bruyette & Woods reduced their price objective 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. Finally, HSBC began coverage on shares of Bank of America in a report on Monday, September 28th. They set a “buy” rating and a $65.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.48.
Read Our Latest Analysis on BAC
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.
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