Bank of America (NYSE:BAC) Price Target Raised to $60.00 at HSBC

Bank of America (NYSE:BAC) had its price objective boosted by HSBC from $55.00 to $60.00 in a research note released on Thursday,MarketScreener reports. HSBC currently has a buy rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on the stock. CICC Research assumed coverage on shares of Bank of America in a research report on Wednesday, January 14th. They issued an “outperform” rating and a $62.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Bank of America from $61.50 to $57.50 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, January 27th. UBS Group dropped their target price on shares of Bank of America from $67.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, Jefferies Financial Group assumed coverage on shares of Bank of America in a research report on Thursday, March 26th. They issued a “buy” rating and a $60.00 target price on the stock. 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 has an average rating of “Moderate Buy” and a consensus price target of $60.90.

Bank of America Price Performance

NYSE BAC opened at $53.53 on Thursday. 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 has a 1 year low of $36.49 and a 1 year high of $57.55. The company has a market cap of $382.54 billion, a PE ratio of 13.25, a PEG ratio of 0.95 and a beta of 1.23. The stock’s 50-day moving average price is $50.50 and its two-hundred day moving average price is $52.24.

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 company had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. On average, analysts predict that Bank of America will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently declared 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 dividend yield of 2.1%. The ex-dividend date was Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is currently 27.72%.

Insider Buying and Selling

In related news, 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 transaction of $2,491,000.00. Following the completion of the sale, the insider directly owned 227,973 shares in the company, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the sale, the insider owned 307,240 shares of the company’s stock, valued at $15,362,000. This trade represents a 21.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 227,832 shares of company stock worth $11,094,960. 0.27% of the stock is owned by company insiders.

Institutional Trading of Bank of America

A number of institutional investors have recently added to or reduced their stakes in the business. Clark Asset Management LLC lifted its stake in Bank of America by 3.7% in the first quarter. Clark Asset Management LLC now owns 6,688 shares of the financial services provider’s stock valued at $326,000 after acquiring an additional 240 shares during the last quarter. Roble Belko & Company Inc lifted its stake in Bank of America by 2,338.5% in the first quarter. Roble Belko & Company Inc now owns 4,877 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 4,677 shares during the last quarter. Smith Salley Wealth Management lifted its stake in Bank of America by 5.6% in the first quarter. Smith Salley Wealth Management now owns 156,904 shares of the financial services provider’s stock valued at $7,649,000 after acquiring an additional 8,273 shares during the last quarter. MontVue Capital Management Inc. acquired a new stake in Bank of America in the first quarter valued at approximately $216,000. Finally, True Vision MN LLC lifted its stake in Bank of America by 6.3% in the first quarter. True Vision MN LLC now owns 4,218 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 250 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Key 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.