Bank of America (NYSE:BAC) Given New $65.00 Price Target at The Goldman Sachs Group

Bank of America (NYSE:BAC) had its price objective increased by The Goldman Sachs Group from $64.00 to $65.00 in a research report sent to investors on Thursday,MarketScreener reports. The Goldman Sachs Group currently has a buy rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Ameriprise Financial raised Bank of America to a “buy” rating in a research note on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of America from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Wells Fargo & Company upped their price objective on shares of Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Argus lifted their target price on shares of Bank of America from $53.00 to $58.00 in a research report on Friday, October 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.74.

Bank of America Trading Up 0.1%

Shares of Bank of America stock opened at $52.53 on Thursday. The company’s 50-day moving average price is $54.17 and its 200-day moving average price is $51.16. 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 12-month low of $33.06 and a 12-month high of $57.55. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $28.53 billion for the quarter, compared to analysts’ expectations of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. On average, equities analysts expect that Bank of America will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

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

Hedge Funds Weigh In On Bank of America

Several institutional investors and hedge funds have recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in Bank of America by 30.0% during the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after acquiring an additional 25,143 shares during the period. Balefire LLC purchased a new position in Bank of America in the 2nd quarter worth approximately $507,000. Mirador Capital Partners LP lifted 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 valued at $467,000 after purchasing an additional 1,550 shares during the last quarter. Chesley Taft & Associates LLC purchased a new stake in shares of Bank of America during the second quarter valued at approximately $211,000. Finally, Pines Wealth Management LLC purchased a new stake in shares of Bank of America during the second quarter valued at approximately $227,000. Institutional investors own 70.71% of the company’s stock.

Key Bank of America News

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.