Bank of America’s (BAC) Outperform Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their outperform rating on shares of Bank of America (NYSE:BAC) in a research report report published on Thursday,Benzinga reports. They currently have a $59.00 price objective on the financial services provider’s stock.

BAC has been the subject of a number of other research reports. CICC Research began coverage on shares of Bank of America in a research report on Wednesday, January 14th. They set an “outperform” rating and a $62.00 price objective for the company. Evercore boosted their price objective on shares of Bank of America from $55.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group boosted their price objective on shares of Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday. Barclays boosted their price objective on shares of Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, HSBC boosted their price objective on shares of Bank of America from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and a consensus price target of $60.90.

Bank of America Trading Down 1.4%

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 12 month low of $36.49 and a 12 month high of $57.55. The company has a market cap of $382.54 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.95 and a beta of 1.23. The company has a 50 day simple moving average of $50.50 and a two-hundred day simple moving average of $52.24.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $29.72 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm’s revenue was up 10.7% on a year-over-year basis. Research analysts forecast that Bank of America will post 3.7 earnings per share 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 issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.12 annualized dividend and a yield of 2.1%. Bank of America’s dividend payout ratio is currently 27.72%.

Insider Buying and Selling

In related news, insider Thomas M. Scrivener sold 50,000 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the transaction, the insider owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. This represents a 17.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James P. Demare sold 83,832 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the transaction, the insider directly owned 307,240 shares of the company’s stock, valued at $15,362,000. This represents a 21.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 227,832 shares of company stock valued at $11,094,960. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Bank of America by 3.7% in 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 buying an additional 23,351,183 shares during the period. Capital World Investors boosted its holdings in Bank of America by 11.0% in the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock worth $7,448,816,000 after buying an additional 14,275,810 shares during the period. Norges Bank bought a new position in Bank of America in the 4th quarter worth $4,774,210,000. Bank of New York Mellon Corp boosted its holdings in Bank of America by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock worth $3,169,062,000 after buying an additional 2,929,779 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Bank of America by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock worth $2,958,110,000 after buying an additional 1,105,833 shares during the period. Institutional investors own 70.71% of the company’s stock.

Key Headlines Impacting 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.

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.