Argus Issues Positive Forecast for Bank of America (NYSE:BAC) Stock Price

Bank of America (NYSE:BAC) had its price objective boosted by Argus from $58.00 to $59.00 in a research note released on Thursday morning,MarketScreener reports. Argus currently has a buy rating on the financial services provider’s stock.

BAC has been the subject of a number of other reports. Evercore ISI set a $59.00 price objective on Bank of America in a research note on Thursday. Robert W. Baird lifted their price target 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. Seaport Global Securities upped their price target on shares of Bank of America from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. raised their price objective on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Finally, Piper Sandler upped their target price on shares of Bank of America from $56.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus price target of $59.74.

Bank of America Trading Up 0.1%

Shares of BAC stock opened at $52.53 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.79. The company has a market cap of $383.59 billion, a price-to-earnings ratio of 13.72 and a beta of 1.29. Bank of America has a 1 year low of $33.06 and a 1 year high of $57.55. The firm has a fifty day moving average price of $54.17 and a 200-day moving average price of $51.16.

Bank of America (NYSE:BAC) last released its 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 company had revenue of $28.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.Bank of America’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. As a group, equities analysts predict that Bank of America will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 5th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, December 5th. Bank of America’s dividend payout ratio is 30.52%.

Institutional Investors Weigh In On Bank of America

A number of hedge funds have recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock worth $4,785,000 after acquiring an additional 25,143 shares during the last quarter. Balefire LLC purchased a new position in shares of Bank of America in the second quarter valued at $507,000. Mirador Capital Partners LP increased its position in Bank of America by 18.6% in the second quarter. Mirador Capital Partners LP now owns 9,861 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 1,550 shares during the last quarter. Chesley Taft & Associates LLC purchased a new stake in Bank of America during the second quarter valued at $211,000. Finally, Pines Wealth Management LLC purchased a new stake in Bank of America during the second quarter valued at $227,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America News Roundup

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

• Positive Sentiment: Q4 results beat expectations: solid EPS, revenue and management commentary that pointed to continued net‑interest‑income growth and broad-based trading strength — a fundamental reason investors have confidence in BAC’s earnings power. Read More.
• Positive Sentiment: Analyst upgrades/price‑target lifts: Goldman Sachs raised its PT to $65 (maintained Buy) and Argus raised its PT to $59 (Buy), providing buy‑side support and signaling upside versus the current price. Read More. Read More.
• Neutral Sentiment: Mixed analyst tweaks: several firms trimmed price targets after the quarter (e.g., TD Cowen, Keefe Bruyette & Woods, Truist) but mostly kept Buy/Outperform ratings — reduces upside estimates but keeps institutional backing intact. Read More.
• Neutral Sentiment: Crypto testing rumor: unconfirmed reports that BofA is testing Ripple’s XRP for cross‑border payments — interesting for strategic innovation but unverified and unlikely to be an immediate earnings driver. Read More.
• Negative Sentiment: Sector and sentiment drag: big‑bank shares pulled back after earnings overall as investors punished high valuations and reacted to mixed forward commentary — this sentiment pressure hit BAC despite the beat. Read More.
• Negative Sentiment: Deposit and policy risk: CEO comments flagged that interest‑bearing stablecoins could drain deposits (study‑based estimate up to $6T), a structural risk if regulators allow yield‑paying crypto products — this raises concerns about future lending capacity and margins. Read More.

About Bank of America

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.