Mirae Asset Global Investments Co. Ltd. Purchases 78,761 Shares of Bank of America Corporation $BAC

Key Points

• Mirae Asset Global Investments bought 78,761 shares of Bank of America in Q4, increasing its stake 7.3% to 1,160,854 shares worth about $63.85 million.
• Bank of America beat Q1 estimates (EPS $1.11 vs. $1.00; revenue $30.27B), prompting multiple firms to raise targets and leaving a consensus rating of Moderate Buy with a $60.90 price target.
• Company insiders sold 227,832 shares (≈$11.09 million) in the last three months, cutting insider ownership to 0.27%.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Bank of America Corporation (NYSE:BAC - Free Report) by 7.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,160,854 shares of the financial services provider's stock after purchasing an additional 78,761 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Bank of America were worth $63,847,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DecisionMap Wealth Management LLC increased its holdings in Bank of America by 4.7% during the fourth quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider's stock valued at $223,000 after buying an additional 182 shares during the last quarter. Holistic Financial Partners boosted its stake in shares of Bank of America by 2.4% during the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock worth $434,000 after acquiring an additional 183 shares during the last quarter. Riverview Capital Advisers LLC grew its position in shares of Bank of America by 4.2% during the 3rd quarter. Riverview Capital Advisers LLC now owns 4,686 shares of the financial services provider's stock valued at $242,000 after acquiring an additional 188 shares during the period. Shepherd Financial Partners LLC grew its position in shares of Bank of America by 0.3% during the 3rd quarter. Shepherd Financial Partners LLC now owns 60,279 shares of the financial services provider's stock valued at $3,110,000 after acquiring an additional 189 shares during the period. Finally, William B. Walkup & Associates Inc. increased its stake in shares of Bank of America by 1.4% in the 3rd quarter. William B. Walkup & Associates Inc. now owns 14,020 shares of the financial services provider's stock worth $723,000 after purchasing an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on BAC. Jefferies Financial Group lifted their target price on Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday. Keefe, Bruyette & Woods upped their price target on Bank of America from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Thursday. Truist Financial raised their price objective on Bank of America from $57.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday. Argus lifted their price objective on Bank of America from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday. Finally, The Goldman Sachs Group increased their target price on shares of Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.90.

Insiders Place Their Bets

In other news, insider James P. Demare sold 83,832 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the transaction, the insider owned 307,240 shares of the company's stock, valued at approximately $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of the company's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the transaction, the insider owned 170,184 shares of the company's stock, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 227,832 shares of company stock worth $11,094,960 in the last three months. 0.27% of the stock is owned by company insiders.

Bank of America Trading Down 1.4%

Shares of BAC stock opened at $53.53 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a fifty day simple moving average of $50.50 and a two-hundred day simple moving average of $52.24. The firm has a market capitalization of $382.54 billion, a PE ratio of 13.25, a PEG ratio of 0.95 and a beta of 1.23. Bank of America Corporation has a 52-week low of $36.49 and a 52-week high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The business's revenue was up 10.7% on a year-over-year basis. On average, analysts predict that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. Bank of America's payout ratio is currently 27.72%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Q1 results beat Street estimates — EPS of $1.11 and revenue near $30.3B, driven by higher net interest income and fee income; management described broad-based momentum across consumer, wealth and markets businesses. Read More.
• Positive Sentiment: Equities trading and investment-banking strength were standout contributors (equities revenue jumped sharply), and wealth/advisory flows were strong — these fee and trading gains helped lift margins and shareholder returns. Read More.
• Positive Sentiment: Analysts reacted by raising forecasts and price targets (multiple firms raising targets and reiterating buy/outperform ratings), which supports the case for a re-rating if momentum continues. Read More.
• Neutral Sentiment: Capital/liability action — BofA will redeem €1.5B of senior notes due in 2027 (scheduled May 4 redemption). That simplifies near-term liability structure but uses capital that might otherwise support other uses. Read More.
• Neutral Sentiment: Strategic/tactical moves: BofA is rolling out new AI tools for its ~18,000 financial advisors, signaling investment in higher-margin wealth management distribution over time. Read More.
• Negative Sentiment: Not all businesses were flawless — fixed-income trading lagged and some of the earnings beat reflects a volatile market environment that may not persist; investors may be booking gains after the stock’s recent run toward its 52-week high. Read More.

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.

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