Bank of America (NYSE:BAC) Trading 2.9% Higher on Analyst Upgrade

Bank of America Corporation (NYSE:BAC)’s stock price rose 2.9% during mid-day trading on Friday after HSBC raised their price target on the stock from $55.00 to $57.00. HSBC currently has a hold rating on the stock. Bank of America traded as high as $56.87 and last traded at $56.54. Approximately 41,147,997 shares changed hands during trading, an increase of 3% from the average daily volume of 39,874,672 shares. The stock had previously closed at $54.94.

BAC has been the topic of a number of other research reports. Wells Fargo & Company boosted their price objective on Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Piper Sandler boosted their price target on Bank of America from $56.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research note on Tuesday, January 27th. Citigroup raised their price objective on shares of Bank of America from $58.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Ameriprise Financial raised shares of Bank of America to a “buy” rating in a report on Wednesday, October 22nd. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.30.

Bank of America News Summary

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

• Positive Sentiment: Wall Street peers and BAC are boosting bonus pools by at least 10%, a market signal that investment‑banking and markets revenue was strong in 2025 — this supports investor confidence in BAC’s profitability and retention. JPMorgan, Goldman, Bank of America Boost Bonus Pools by at Least 10%
• Positive Sentiment: Reports that BofA plans to revamp credit‑card offerings and is leveraging AI to boost consumer profit have investors expecting higher card revenue and improved margins over time. Product revamps + steady dividends are a clear near‑term positive for bank earnings outlook. Bank of America to revamp credit cards to fuel consumer profit – report
• Positive Sentiment: HSBC nudged its BAC price target up to $57 from $55 (hold), a modest analyst backing that removes some near‑term downside uncertainty. HSBC adjusts price target on Bank of America to $57 from $55; maintains hold rating
• Neutral Sentiment: BofA announced full redemption of its Series DD preferred stock — a corporate capital action that simplifies the capital structure; impact depends on how the redemption is funded and future capital allocation. Bank of America Announces Full Redemption of Its Series DD Preferred Stock and Related Depositary Shares
• Neutral Sentiment: Strategist Michael Hartnett’s “Main Street over Davos” theme and calls to favor midcaps reflect positioning advice from BofA Research; useful for market positioning but not an immediate earnings catalyst for BAC itself. ‘Stay Long Detroit, Short Davos’: Why BofA’s Hartnett Sees A Main Street Boom Ahead Of The Midterms
• Negative Sentiment: BofA Institute flagged that middle‑class wage growth is stalling — a potential headwind for consumer spending, card volumes and loan performance if the trend persists. Bank of America Warns Middle Class Wages Are Stalling
• Negative Sentiment: BofA’s market strategist also warns that a two‑decade high in its “bull and bear” indicator could signal a market peak — an elevated macro risk that could pressure bank shares if broader risk appetite falls. Two‑decade high for Bank of America’s ‘bull and bear’ indicator points to stock‑market peak, strategist says

Hedge Funds Weigh In On Bank of America

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Bank of America by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock worth $35,809,225,000 after purchasing an additional 23,351,183 shares during the period. Geode Capital Management LLC lifted its stake in Bank of America by 0.3% in the second quarter. Geode Capital Management LLC now owns 148,176,755 shares of the financial services provider’s stock valued at $6,982,863,000 after buying an additional 403,652 shares during the period. Capital World Investors boosted its holdings in shares of Bank of America by 11.0% during the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock worth $7,448,816,000 after buying an additional 14,275,810 shares in the last quarter. Norges Bank acquired a new stake in shares of Bank of America during the 2nd quarter worth approximately $5,091,641,000. Finally, Fisher Asset Management LLC increased its stake in shares of Bank of America by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 52,677,988 shares of the financial services provider’s stock valued at $2,717,657,000 after acquiring an additional 1,272,315 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Up 2.9%

The company has a market cap of $412.88 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 1.34 and a beta of 1.29. The stock’s 50-day moving average is $54.38 and its 200-day moving average is $51.81. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15.

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 business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be issued a $0.28 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.12 annualized dividend and a yield of 2.0%. Bank of America’s dividend payout ratio is presently 29.24%.

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.