12,626 Shares in Bank of America Corporation $BAC Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. bought a new stake in shares of Bank of America Corporation (NYSE:BAC) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 12,626 shares of the financial services provider’s stock, valued at approximately $651,000.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in Bank of America during the second quarter valued at $5,091,641,000. Arrowstreet Capital Limited Partnership raised its position in shares of Bank of America by 124.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock valued at $833,771,000 after buying an additional 9,782,208 shares in the last quarter. ABN AMRO Bank N.V. bought a new position in shares of Bank of America in the 2nd quarter valued at about $202,439,000. OMERS ADMINISTRATION Corp grew its position in Bank of America by 881.5% in the second quarter. OMERS ADMINISTRATION Corp now owns 4,210,388 shares of the financial services provider’s stock worth $199,236,000 after acquiring an additional 3,781,417 shares in the last quarter. Finally, AMF Tjanstepension AB increased its stake in Bank of America by 62.9% during the second quarter. AMF Tjanstepension AB now owns 8,904,561 shares of the financial services provider’s stock worth $421,564,000 after acquiring an additional 3,438,876 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BAC. Keefe, Bruyette & Woods lowered their price objective on Bank of America from $64.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Phillip Securities raised their price target on Bank of America from $50.00 to $56.00 in a research report on Tuesday, October 21st. Wolfe Research cut shares of Bank of America from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. TD Cowen lowered their target price on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, January 15th. Finally, Dbs Bank raised shares of Bank of America to a “moderate buy” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.74.

Bank of America Price Performance

Bank of America stock opened at $51.75 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $377.87 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.26 and a beta of 1.29. The firm has a 50-day moving average of $54.06 and a two-hundred day moving average of $51.36. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $57.55.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. On average, research analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current year.

More Bank of America News

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

• Positive Sentiment: Morgan Stanley and other bullish takes following BAC’s solid Q4 results reinforce earnings momentum and analyst support; this underpins investor confidence in BAC’s core earnings and capital outlook. Morgan Stanley remains bullish on Bank of America (BAC) following strong Q4 results
• Positive Sentiment: Broad earnings‑season commentary (Zacks and others) showing rising estimates and a favorable Q4 backdrop supports BAC’s forward EPS outlook and valuation multiples. Earnings Estimates Keep Increasing: A Closer Look
• Positive Sentiment: BofA’s $1B “sharing success”/employee‑owner initiative is getting coverage; such programs can help retention and align employee incentives, modestly supportive for execution and cost control over time. Did BAC’s US$1 Billion Sharing Success Plan Just Recast Bank of America’s Employee-Owner Model?
• Neutral Sentiment: BofA research/commentary (MarketWatch piece) promoting international stocks, EM and gold versus bonds highlights the firm’s market views but is unlikely to move BAC shares materially. Now is not the time to own bonds, says Bank of America. These are safer bets.
• Neutral Sentiment: BofA analysts remain active in coverage (example: upgrade of Oklo shows BofA’s analyst influence) — helpful for reputation but indirect for the stock. Oklo Stock Rises as Meta Deal Triggers Bank of America Upgrade
• Negative Sentiment: Multiple reports say BofA is considering offering credit cards at a proposed 10% cap (and CEO Moynihan warned a cap would curb spending). The story raises regulatory and margin‑pressure concerns for card balances and interest income — a key driver for bank profitability. Bank of America, Citi consider new credit cards with 10% rate – report
• Negative Sentiment: Additional coverage (Bloomberg/PYMNTS/NYPost/Blockonomi) on the 10% card idea and Moynihan’s comments increases the chance investors re‑price BAC to reflect regulatory risk to card yields and consumer‑credit availability. Bank of America and Citi Consider Offering Credit Cards With 10% Interest Rate

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.