Bank of America (NYSE:BAC) Given New $58.00 Price Target at Robert W. Baird

Bank of America (NYSE:BAC) had its price target boosted by Robert W. Baird from $56.00 to $58.00 in a research report sent to investors on Thursday morning,MarketScreener reports. The firm currently has a neutral rating on the financial services provider’s stock.

BAC has been the topic of several other research reports. Evercore raised their price objective on Bank of America from $55.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a report on Tuesday, January 27th. Oppenheimer boosted their price objective on Bank of America from $58.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group started coverage on Bank of America in a research note on Thursday, March 26th. They set a “buy” rating and a $60.00 target price for the company. Finally, Wolfe Research downgraded shares of Bank of America from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.90.

Bank of America Stock Performance

Shares of NYSE:BAC opened at $53.53 on Thursday. The company has a market capitalization of $382.54 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 0.95 and a beta of 1.23. The firm’s 50 day simple moving average is $50.50 and its 200 day simple moving average is $52.24. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.80. Bank of America has a fifty-two week low of $36.49 and a fifty-two week high of $57.55.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same quarter last year, the firm earned $0.90 EPS. Bank of America’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Bank of America will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, March 6th. Bank of America’s dividend payout ratio is presently 27.72%.

Insider Buying and Selling

In other Bank of America news, insider Thomas M. Scrivener sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the sale, the insider owned 227,973 shares in the company, valued at $11,357,614.86. This represents a 17.99% 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 Bernard A. Mensah sold 94,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 227,832 shares of company stock worth $11,094,960. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Bank of America

Several institutional investors and hedge funds have recently bought and sold shares of BAC. Abound Financial LLC bought a new position in shares of Bank of America during the fourth quarter worth approximately $26,000. Wiser Advisor Group LLC bought a new position in shares of Bank of America during the third quarter worth approximately $27,000. Legacy Bridge LLC increased its stake in shares of Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 330 shares during the period. Marquette Asset Management LLC bought a new position in shares of Bank of America during the third quarter worth approximately $30,000. Finally, Collier Financial bought a new position in shares of Bank of America during the third quarter worth approximately $30,000. Institutional investors own 70.71% of the company’s stock.

More Bank of America News

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

• Positive Sentiment: Record Q1 results — BAC posted EPS $1.11 and roughly $30.3B revenue, driven by a jump in equities trading, stronger net interest income and $8.6B net income; management highlighted resilient consumer activity and strong wealth flows. Bank of America Posts Monster Quarter, Best in Nearly Two Decades
• Positive Sentiment: Analyst re-ratings and price target increases — Multiple brokerages (Goldman, Jefferies, Evercore, Keefe, Argus, HSBC, RBC, Baird) raised price targets or reiterated outperform/buy calls after the beat, signaling upside revision to consensus. Goldman Sachs Raises Price Target on BAC
• Positive Sentiment: Street sees re‑rating potential — UBS and other analysts called the quarter “clean” and suggested BAC’s results and momentum could support multiple expansion. Bank of America’s Q1 Results Could Support Re-Rating, UBS Says
• Positive Sentiment: Operational/strategic tailwinds — BofA rolled out an AI tool for its ~18,000 financial advisors and emphasized tech investments that could lift fee income and client retention. Bank of America’s 18,000 financial advisors just got a new AI tool
• Neutral Sentiment: Debt action — BofA announced redemption of €1.5B of senior notes due May 4, 2027; a straightforward liability management move with limited immediate credit impact but uses cash/ISS liquidity. Redemption of €1.5B Senior Notes
• Neutral Sentiment: Sector context — RBC and others noted strong capital‑markets performance industrywide in Q1, which helped BAC’s trading and IB fees but also concentrates earnings on volatile revenue streams. Big Banks Delivered Strong Capital Markets Performance in First Quarter, RBC Says
• Negative Sentiment: Macro/growth concerns — Recent BofA surveys show investors trimming growth expectations, a backdrop that can cap bank multiples if broader growth or risk appetite weakens. Investors slash growth views — BofA survey
• Negative Sentiment: Market reaction and volume — Despite the strong quarter and several price‑target raises, the stock decreased today, likely due to short‑term profit‑taking, lower-than-average volume and broader market/geopolitical noise that temporarily weighed on financials.

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.