Bank of America (NYSE:BAC) Shares Up 1.7% After Analyst Upgrade

Bank of America Corporation (NYSE:BAC)’s stock price rose 1.7% during trading on Friday after Oppenheimer raised their price target on the stock from $55.00 to $63.00. Oppenheimer currently has an outperform rating on the stock. Bank of America traded as high as $55.31 and last traded at $55.19. Approximately 71,939,356 shares changed hands during mid-day trading, an increase of 78% from the average daily volume of 40,345,098 shares. The stock had previously closed at $54.26.

Other equities analysts also recently issued reports about the company. Seaport Global Securities increased their target price on Bank of America from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Robert W. Baird raised their price objective on shares of Bank of America from $52.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of America from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bank of America from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Twenty-three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.59.

More Bank of America News

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

• Positive Sentiment: Analysts expect double‑digit profit growth for BAC in fiscal Q4 2025, setting the bar for an earnings beat that could lift the stock if results and guidance are strong. Read More.
• Positive Sentiment: Investment banking fee momentum (more deals, IPOs and easing rates) is expected to boost BAC’s fee income in 2025–26 — a structural revenue tailwind that supports higher margins and valuation. Read More.
• Positive Sentiment: Oppenheimer raised its price target to $63 and kept an outperform view, signaling stronger analyst conviction and potential upside from upgrades. Analyst upgrades/target raises often support near‑term buying. Read More.
• Positive Sentiment: Truist raised its price target (to $58) and has maintained a buy stance — additional institutional buy ratings are reinforcing positive momentum. Read More.
• Positive Sentiment: Keefe, Bruyette & Woods and other houses have reiterated outperform/buy views, adding to the cluster of favorable analyst coverage that can attract flows. Read More.
• Neutral Sentiment: Zacks notes elevated investor attention on BAC; heightened searches can amplify moves but aren’t directional by themselves. Read More.
• Neutral Sentiment: Bank of America Securities analysts remain active on many names (ratings and notes across sectors); this shows institutional research strength but is indirect for BAC’s price. Read More.
• Negative Sentiment: Bank of America’s own Bull & Bear Indicator flagged that extreme bullishness among fund managers has triggered a contrarian “sell” signal — historically associated with pullbacks, which could cap gains or trigger volatility. Read More.
• Negative Sentiment: MarketWatch coverage highlights that BofA’s sell‑signal has been triggered and discusses historical outcomes, reinforcing risk-averse positioning by some managers and possible outflows. Read More.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BAC. Geode Capital Management LLC grew its position in shares of Bank of America by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 148,176,755 shares of the financial services provider’s stock worth $6,982,863,000 after buying an additional 403,652 shares during the period. Capital World Investors boosted its stake in Bank of America by 11.0% during the third quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock worth $7,448,816,000 after acquiring an additional 14,275,810 shares in the last quarter. Norges Bank acquired a new position in shares of Bank of America during the second quarter valued at about $5,091,641,000. Fisher Asset Management LLC boosted its position in shares of Bank of America by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 52,677,988 shares of the financial services provider’s stock worth $2,717,657,000 after purchasing an additional 1,272,315 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Bank of America by 640.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock valued at $2,399,798,000 after buying an additional 40,235,201 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Price Performance

The business has a 50-day moving average of $52.89 and a 200 day moving average of $49.82. The firm has a market capitalization of $403.02 billion, a P/E ratio of 15.04 and a beta of 1.30. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.13. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The firm had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $27.05 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts predict that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. Bank of America’s dividend payout ratio (DPR) is 30.52%.

Bank of America Company 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.