Bank of America (NYSE:BAC) Price Target Raised to $64.00 at Keefe, Bruyette & Woods

Bank of America (NYSE:BAC) had its target price boosted by Keefe, Bruyette & Woods from $63.00 to $64.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on BAC. JPMorgan Chase & Co. decreased their price target on shares of Bank of America from $61.50 to $57.50 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Barclays upped their price target on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Wolfe Research cut shares of Bank of America from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Evercore decreased their price target on shares of Bank of America from $59.00 to $55.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. Finally, HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Wednesday, April 1st. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.90.

Bank of America Trading Down 1.4%

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

Bank of America (NYSE:BAC) last released its quarterly earnings results 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. The firm had revenue of $30.27 billion for 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 quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Equities research analysts forecast that Bank of America will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were paid 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 dividend payout ratio is currently 27.72%.

Insider Activity at Bank of America

In related news, insider James P. Demare sold 83,832 shares of the stock in a transaction 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 transaction, the insider owned 307,240 shares of the company’s stock, valued at $15,362,000. This represents a 21.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction 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 transaction, the insider directly owned 170,184 shares in the company, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 227,832 shares of company stock valued at $11,094,960 over the last 90 days. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Abound Financial LLC bought a new position in shares of Bank of America during the fourth quarter valued at about $26,000. Legacy Bridge LLC grew 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 valued at $28,000 after buying an additional 330 shares during the last quarter. Wiser Advisor Group LLC bought a new position in shares of Bank of America during the third quarter valued at about $27,000. CrossGen Wealth LLC bought a new position in shares of Bank of America during the fourth quarter valued at about $30,000. Finally, Collier Financial bought a new position in shares of Bank of America during the third quarter valued at about $30,000. 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: 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.