Oppenheimer Lowers Bank of America (NYSE:BAC) Price Target to $58.00

Bank of America (NYSE:BAC) had its target price lowered by equities research analysts at Oppenheimer from $63.00 to $58.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s target price indicates a potential upside of 23.38% from the company’s current price.

Several other analysts have also recently commented on BAC. Royal Bank Of Canada boosted their price target on shares of Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. CICC Research assumed coverage on Bank of America in a report on Wednesday, January 14th. They issued an “outperform” rating and a $62.00 target price on the stock. Wall Street Zen upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Wolfe Research lowered Bank of America from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Finally, Barclays raised their price target on Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.67.

Bank of America Trading Down 2.5%

Bank of America stock opened at $47.01 on Friday. Bank of America has a 1 year low of $33.06 and a 1 year high of $57.55. The firm’s 50 day moving average price is $51.03 and its 200-day moving average price is $52.27. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $335.93 billion, a P/E ratio of 12.27, a PEG ratio of 1.14 and a beta of 1.28.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. Bank of America’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, equities analysts predict that Bank of America will post 3.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction dated 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 completion of the transaction, the insider owned 170,184 shares in the company, valued at approximately $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James P. Demare sold 83,832 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total value of $4,191,600.00. Following the sale, the insider directly owned 307,240 shares in the company, valued at $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 227,832 shares of company stock worth $11,094,960. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Bank of America

Several large investors have recently modified their holdings of BAC. Permanent Capital Management LP bought a new stake in shares of Bank of America during the third quarter worth $649,000. Meridian Wealth Management LLC grew its holdings in shares of Bank of America by 54.6% in the third quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider’s stock worth $3,008,000 after purchasing an additional 20,591 shares during the last quarter. Lockheed Martin Investment Management Co. grew its holdings in shares of Bank of America by 15.9% in the third quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider’s stock worth $32,482,000 after purchasing an additional 86,290 shares during the last quarter. World Equity Group Inc. increased its stake in Bank of America by 21.8% in the 3rd quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider’s stock worth $3,779,000 after buying an additional 13,119 shares during the period. Finally, AdvisorShares Investments LLC bought a new stake in Bank of America during the 3rd quarter valued at about $482,000. Institutional investors own 70.71% of the company’s stock.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Jefferies initiated coverage with a “Buy” and $60 price target, adding fresh bullish analyst support and suggesting ~27% upside from current levels. Read
• Positive Sentiment: Bank of America formed a Private Capital M&A group to advise private equity exits — a strategic move that can expand fee pools for the investment bank and help offset pressure in other areas. Article
• Positive Sentiment: Merrill and Bank of America Private Bank rolled out an AI‑Powered Meeting Journey to save advisors time and improve client workflows — a productivity/retention leaver for wealth management revenue. Press Release
• Neutral Sentiment: Corporate/social partnership: Watson Links and Bank of America expanded youth golf access — positive PR but limited near‑term revenue impact. PR
• Neutral Sentiment: Bank of America Securities continues active research coverage and reiterations on other companies (AstraZeneca, Arrowhead, Wave, etc.), highlighting the firm’s research franchise but with limited direct impact on BAC stock. Research Note
• Negative Sentiment: Oppenheimer cut its price target from $63 to $58 (still “Outperform”) — the lower target reduces upside expectations and can pressure the stock. Article
• Negative Sentiment: Goldman Sachs lowered its price target to $57 earlier this week — another analyst trim hitting sentiment after recent highs. Article
• Negative Sentiment: Coverage noted Bank of America “balances” costs from an Epstein settlement while advancing AI advisor tools — ongoing legal/settlement headlines can create headline risk and investor caution. Article

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.