Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Bank of America Corporation $BAC

Key Points

• Mirae Asset Global Investments increased its Bank of America stake by 12.2% in the second quarter, adding 161,759 shares to own 1.49 million shares valued at approximately $84.8 million. Institutional investors and hedge funds collectively own 70.71% of BAC.
• Bank of America exceeded quarterly expectations with EPS of $1.21 versus $1.13 expected and revenue of $31.56 billion, up 19.6% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $64.08.
• The bank raised its quarterly dividend from $0.28 to $0.32 per share, equivalent to an annualized $1.28 dividend and a 2.0% yield. BAC shares opened at $64.45, near their 52-week high of $65.20.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 12.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,488,510 shares of the financial services provider's stock after acquiring an additional 161,759 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Bank of America were worth $84,815,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BAC. Money Concepts Capital Corp boosted its stake in Bank of America by 3.8% during the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock worth $273,000 after purchasing an additional 182 shares during the period. Operose Advisors LLC increased its stake in Bank of America by 0.9% in the fourth quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock valued at $1,123,000 after purchasing an additional 185 shares during the period. Asahi Life Asset Management CO. LTD. raised its holdings in shares of Bank of America by 1.0% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider's stock valued at $1,092,000 after buying an additional 187 shares during the last quarter. GatePass Capital LLC raised its holdings in shares of Bank of America by 3.6% in the first quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider's stock valued at $266,000 after buying an additional 190 shares during the last quarter. Finally, GeoWealth Management LLC boosted its stake in shares of Bank of America by 0.3% during the fourth quarter. GeoWealth Management LLC now owns 61,597 shares of the financial services provider's stock worth $3,388,000 after buying an additional 191 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

More Bank of America News

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

• Positive Sentiment: Bank of America agreed to acquire up to a 49.9% stake in India’s Jio Credit for approximately $1.9 billion. The partnership could give BAC access to Jio Financial Services’ large digital distribution network and expand its presence in India’s rapidly growing consumer-credit market. Bank of America to acquire 49.9% of India’s Jio Credit
• Positive Sentiment: An analyst boosted Bank of America’s fiscal 2026 EPS estimate, adding to the positive earnings outlook after the company recently exceeded quarterly EPS and revenue expectations. Revenue also grew 19.6% year over year in the latest reported quarter. FY2026 EPS Estimate for Bank of America Boosted by Analyst
• Positive Sentiment: One valuation analysis characterized BAC as still undervalued despite a roughly 139% three-year gain, citing earnings-based multiples and an intrinsic-value model. That view may support continued investor interest in the shares. Bank of America Stock Still Looks Like a Bargain
• Neutral Sentiment: Bank of America’s research teams remain active across artificial intelligence, biotechnology, retail and other sectors. The coverage—including bullish views on AI-related stocks—may reinforce the firm’s investment-banking and research profile, but it is not a direct change to BAC’s earnings outlook. 16 beaten-down AI stocks that are beloved by BofA analysts
• Neutral Sentiment: A Bank of America strategist continues to forecast three Federal Reserve rate hikes, arguing that inflation-related tightening is incomplete. Persistently firm rates could support lending margins, but they may also slow credit demand and increase economic or credit-quality risks. BofA Exec Still Calls For 3 Fed Rate Hikes
• Negative Sentiment: BAC’s shares have risen sharply and now trade close to their annual high, making future gains more dependent on earnings growth and successful execution of initiatives such as the Jio Credit investment. The elevated valuation increases the risk of profit-taking if results or guidance disappoint.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BAC shares. Barclays raised their price target on Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Evercore set a $63.00 price objective on Bank of America and gave the stock an "outperform" rating in a research report on Monday, July 6th. JPMorgan Chase & Co. increased their price objective on Bank of America from $62.50 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Robert W. Baird lifted their target price on Bank of America from $58.00 to $62.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Bank of America in a report on Tuesday, July 21st. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Bank of America has an average rating of "Moderate Buy" and an average price target of $64.08.

Bank of America Trading Up 0.6%

Shares of Bank of America stock opened at $64.45 on Friday. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.20. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The company's 50-day simple moving average is $59.77 and its 200-day simple moving average is $54.30. The firm has a market cap of $450.72 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly 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 firm had revenue of $31.56 billion during the quarter, compared to analysts' expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm's revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 earnings per share. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.32 per share. This is a positive change from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America's dividend payout ratio (DPR) is currently 25.69%.

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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