Rakuten Investment Management Inc. Makes New Investment in Bank of America Corporation $BAC

Key Points

• Rakuten Investment Management opened a Bank of America position in the third quarter, buying 1,166,504 shares valued at about $64.1 million. Institutional investors and hedge funds collectively own 70.71% of the stock.
• Bank of America’s latest quarter missed analyst expectations for earnings per share ($1.08 versus $1.10) and revenue ($29.96 billion versus $30.58 billion), although revenue rose 3.2% year over year. The bank declared a $0.32 quarterly dividend, equivalent to a 2.6% yield at the article’s cited share price.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $62.48; however, several firms recently lowered their targets. The article also flags potential legal and regulatory uncertainty, including class-action notices and calls for a Justice Department investigation.

Rakuten Investment Management Inc. acquired a new position in shares of Bank of America Corporation (NYSE:BAC - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,166,504 shares of the financial services provider's stock, valued at approximately $64,111,000.

Several other institutional investors have also made changes to their positions in the business. Legal & General Group Plc bought a new stake in shares of Bank of America in the 2nd quarter valued at approximately $2,571,060,000. Deutsche Bank AG acquired a new position in shares of Bank of America in the 2nd quarter worth approximately $2,359,172,000. Bank of New York Mellon Corp acquired a new position in shares of Bank of America in the 2nd quarter worth approximately $2,313,953,000. Amundi lifted its position in shares of Bank of America by 12.5% during the 1st quarter. Amundi now owns 42,385,115 shares of the financial services provider's stock worth $2,066,274,000 after buying an additional 4,721,969 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position 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 buying an additional 561,413 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Bank of America

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 Stock Up 0.0%

NYSE BAC opened at $49.59 on Wednesday. The firm has a market cap of $342.20 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.87 and a beta of 1.19. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22. The stock's 50 day simple moving average is $55.94 and its 200 day simple moving average is $54.92. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing analysts' consensus estimates of $1.10 by ($0.02). Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The business had revenue of $29.96 billion for the quarter, compared to analyst estimates of $30.58 billion. During the same period in the prior year, the business earned $1.06 earnings per share. The company's revenue for the quarter was up 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that Bank of America Corporation will post 4.51 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced 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 dividend payout ratio is presently 30.40%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wells Fargo & Company lowered their price target on Bank of America from $69.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, October 15th. Phillip Securities raised Bank of America to a "strong-buy" rating in a report on Friday, October 16th. Morgan Stanley reduced their target price 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. Keefe, Bruyette & Woods lowered their target price on shares of Bank of America from $70.00 to $65.00 and set an "outperform" rating on the stock in a report on Thursday, October 15th. Finally, Evercore set a $62.00 target price on shares of Bank of America in a research report on Thursday, October 1st. One investment 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 company. According to data from MarketBeat.com, Bank of America presently has a consensus rating of "Moderate Buy" and an average price target of $62.48.

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.

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