Bank of America (NYSE:BAC) Given New $65.00 Price Target at Jefferies Financial Group

Bank of America (NYSE:BAC) had its target price raised by Jefferies Financial Group from $60.00 to $65.00 in a research note issued to investors on Thursday morning,MarketScreener reports. They currently have a buy rating on the financial services provider’s stock.

Several other research analysts also recently commented on the company. HSBC lifted their target price on Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group lifted their target price on Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research downgraded Bank of America from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Daiwa Securities Group lowered their target price on Bank of America from $62.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Evercore lifted their target price on Bank of America from $55.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.90.

Bank of America Stock Down 1.4%

Shares of BAC opened at $53.53 on Thursday. The company has a market capitalization of $382.54 billion, a PE ratio of 13.25, a PEG ratio of 0.95 and a beta of 1.23. Bank of America has a 12 month low of $36.49 and a 12 month high of $57.55. The stock’s 50-day moving average price is $50.50 and its two-hundred day moving average price is $52.24. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.18.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.00 by $0.11. The firm had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. On average, analysts anticipate that Bank of America will post 3.7 EPS for the current year.

Bank of America Announces Dividend

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

Insider Activity at Bank of America

In related news, insider James P. Demare sold 83,832 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider directly owned 307,240 shares of the company’s stock, valued at $15,362,000. The trade was a 21.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the business’s stock in a transaction dated 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 directly owned 170,184 shares of the company’s stock, valued at $7,988,436.96. The trade was a 35.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 227,832 shares of company stock valued at $11,094,960 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Bank of America

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Abound Financial LLC bought a new stake in Bank of America in the 4th quarter valued at about $26,000. Legacy Bridge LLC increased its position in Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after buying an additional 330 shares in the last quarter. Wiser Advisor Group LLC bought a new stake in Bank of America in the 3rd quarter valued at about $27,000. CrossGen Wealth LLC bought a new stake in Bank of America in the 4th quarter valued at about $30,000. Finally, Collier Financial bought a new stake in Bank of America in the 3rd quarter valued at about $30,000. 70.71% of the stock is owned by institutional investors.

Bank of America News Roundup

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.

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.