Bank of America (NYSE:BAC) Now Covered by Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Bank of America (NYSE:BAC) in a report issued on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $60.00 price target on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. Evercore set a $59.00 target price on Bank of America in a report on Thursday, January 15th. CICC Research assumed coverage on Bank of America in a research report on Wednesday, January 14th. They set an “outperform” rating and a $62.00 price objective for the company. Wall Street Zen raised Bank of America from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Keefe, Bruyette & Woods reduced their price target on Bank of America from $64.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Finally, Truist Financial decreased their price target on shares of Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.88.

Bank of America Stock Performance

Shares of BAC opened at $48.21 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America has a twelve month low of $33.06 and a twelve month high of $57.55. The firm’s 50 day moving average price is $51.15 and its two-hundred day moving average price is $52.28. The firm has a market cap of $344.49 billion, a P/E ratio of 12.59, a PEG ratio of 1.19 and a beta of 1.28.

Bank of America (NYSE:BAC) last issued its quarterly earnings data 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 company 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 firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 earnings per share. On average, analysts forecast that Bank of America will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is 29.24%.

Insider Transactions at Bank of America

In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total value of $4,412,360.00. Following the sale, the insider owned 170,184 shares in the company, valued at $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas M. Scrivener sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the sale, the insider directly owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 227,832 shares of company stock worth $11,094,960 in the last ninety days. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Bank of America

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAC. J. Derek Lewis & Associates Inc. acquired a new position in Bank of America in the 4th quarter valued at $1,298,000. Purpose Unlimited Inc. acquired a new stake in shares of Bank of America during the 4th quarter worth $65,000. Cornerstone Planning LLC bought a new position in shares of Bank of America in the fourth quarter worth $4,250,000. Bank of New Hampshire raised its stake in Bank of America by 1.8% in the fourth quarter. Bank of New Hampshire now owns 53,504 shares of the financial services provider’s stock valued at $2,943,000 after purchasing an additional 956 shares in the last quarter. Finally, World Investment Advisors lifted its position in Bank of America by 45.1% during the fourth quarter. World Investment Advisors now owns 244,191 shares of the financial services provider’s stock worth $13,431,000 after purchasing an additional 75,920 shares during the period. 70.71% of the stock is owned by institutional investors.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Launched a Private Capital M&A Group to help private equity firms exit portfolio companies — could drive incremental investment‑banking fee revenue if PE deal flow ramps. Bank Of America Launches Private Capital M&A Unit
• Positive Sentiment: Merrill and Bank of America Private Bank rolled out an AI‑Powered Meeting Journey to automate advisor prep, notetaking and follow-up — could reduce advisor time/costs and help retain/grow advisory AUM and revenue. Merrill and Bank of America Private Bank Launch AI-Powered Meeting Journey
• Positive Sentiment: Jefferies initiated coverage with a Buy and $60 price target — a visible analyst vote of confidence that can support buy-side interest and help sentiment if other shops follow. Jefferies Starts Coverage (Benzinga link)
• Neutral Sentiment: BofA research continues to lead calls in AI/infra names (e.g., bullish takes on Nebius/CoreWeave) — highlights the strength of its equities/research business but has only an indirect impact on BAC’s own stock. Nebius (NBIS) Stock Surges on BofA Buy Rating as AI Cloud 3.5 Platform Debuts
• Negative Sentiment: Goldman reduced its price target on BAC from $67 to $57 while maintaining a Buy — the cut removes some upside and can weigh on sentiment in the near term. Goldman Sachs Lowers Bank of America (BAC) Price Target to $57
• Negative Sentiment: Broader financials weakness (XLF weakness, compressed net interest margins and mortgage headwinds) is pressuring BAC alongside the sector — macro/sector trends remain the largest near-term drag.

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.