Bank of America (NYSE:BAC) Given New $58.00 Price Target at The Goldman Sachs Group

Bank of America (NYSE:BAC) had its price objective upped by The Goldman Sachs Group from $57.00 to $58.00 in a research note issued to investors on Monday,MarketScreener reports. The Goldman Sachs Group currently has a buy rating on the financial services provider’s stock.

BAC has been the subject of a number of other reports. Barclays increased their price target on shares of Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Wall Street Zen raised shares of Bank of America from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Morgan Stanley reduced their price target on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Keefe, Bruyette & Woods reduced their price target on shares of Bank of America from $64.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. Finally, Truist Financial reduced 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 report on Thursday, January 15th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.20.

Bank of America Stock Performance

NYSE:BAC opened at $50.07 on Monday. Bank of America has a 1 year low of $33.06 and a 1 year high of $57.55. The firm’s fifty day simple moving average is $50.64 and its 200 day simple moving average is $52.20. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $357.75 billion, a PE ratio of 13.07, a PEG ratio of 1.20 and a beta of 1.23.

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, beating analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same period last year, the business posted $0.82 EPS. Bank of America’s revenue was up 12.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Bank of America will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is presently 29.24%.

Insider Transactions at Bank of America

In other news, insider Bernard A. Mensah sold 94,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the completion of the transaction, the insider directly owned 170,184 shares of the company’s stock, valued at approximately $7,988,436.96. This trade represents a 35.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the transaction, the insider directly owned 227,973 shares of the company’s stock, valued at $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 227,832 shares of company stock valued at $11,094,960. Company 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 made changes to their positions in BAC. Norges Bank bought a new position in shares of Bank of America during the 4th quarter worth about $4,774,210,000. Capital International Investors bought a new position in shares of Bank of America during the 4th quarter worth about $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Bank of America by 640.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock worth $2,399,798,000 after acquiring an additional 40,235,201 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Bank of America by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock worth $35,809,225,000 after acquiring an additional 23,351,183 shares during the period. Finally, Cardano Risk Management B.V. lifted its holdings in shares of Bank of America by 914.5% during the 4th quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider’s stock worth $1,380,239,000 after acquiring an additional 22,621,546 shares during the period. 70.71% of the stock is owned by institutional investors.

Trending Headlines about Bank of America

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

• Positive Sentiment: Goldman Sachs raised its price target to $58 and kept a Buy rating, signaling confidence in BAC’s earnings and capital return potential. Goldman Sachs Adjusts Price Target
• Positive Sentiment: Recent analyst upgrades and bullish notes have put BAC back in focus, citing steady earnings, dividend/buyback capacity and attractive valuation versus fundamentals. Analyst Upgrades Put BAC Back in Focus
• Positive Sentiment: Multiple outlets (Zacks, MSN) highlight BAC as a long‑term buy thanks to earnings outlook and valuation — supportive for investor sentiment heading into Q1. Why BAC Is a Top Stock Long-Term
• Positive Sentiment: BofA research expects major U.S. banks to deliver solid Q1 results overall, which supports BAC’s near‑term outlook ahead of its April 15 report. US Banks Set to Deliver Solid Q1 Results
• Positive Sentiment: Strategic business news — a tri‑branded Royal Caribbean credit card with Bank of America — underscores ongoing card/loyalty revenue opportunities. Royal Caribbean & BofA Tri‑Branded Card
• Neutral Sentiment: Some sell‑side firms trimmed price targets (Autonomous to $54; Evercore to $55) but kept neutral/outperform views — mixed signals that limit downside conviction. Autonomous Lowers PT to $54 Evercore Lowers PT to $55
• Neutral Sentiment: Berkshire/Buffett coverage and value‑oriented writeups continue to underscore BAC as a cheap, core financial holding — supportive but not an immediate catalyst. Buffett Stock Value Piece
• Negative Sentiment: Analysts warn that the rate tailwind that boosted net interest income may be fading, which is a key risk for BAC’s near‑term revenue outlook heading into Q1 results. Rate Tailwind Is Fading

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.