The Goldman Sachs Group Issues Positive Forecast for Bank of America (NYSE:BAC) Stock Price

Bank of America (NYSE:BAC) had its price target raised by The Goldman Sachs Group from $58.00 to $63.00 in a research note released on Thursday,MarketScreener reports. They currently have a buy rating on the financial services provider’s stock.

BAC has been the subject of several other research reports. Truist Financial lowered their price target on Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 15th. Argus increased their price objective on shares of Bank of America from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday. Barclays raised their target price on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Morgan Stanley lowered their target price on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Finally, Wall Street Zen raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and an average target price of $60.90.

Bank of America Trading Down 1.4%

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

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.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 business earned $0.90 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts anticipate that Bank of America will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

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

Insider Activity

In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $46.94, for a total value of $4,412,360.00. Following the transaction, the insider directly owned 170,184 shares of the company’s stock, valued at $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 227,973 shares in the company, valued at approximately $11,357,614.86. This represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 227,832 shares of company stock valued at $11,094,960. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bank of America

Large investors have recently modified their holdings of the stock. Permanent Capital Management LP acquired a new stake in Bank of America during the 3rd quarter valued at $649,000. Meridian Wealth Management LLC lifted its holdings in Bank of America by 54.6% in the 3rd quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider’s stock worth $3,008,000 after buying an additional 20,591 shares in the last quarter. Lockheed Martin Investment Management Co. boosted its position in Bank of America by 15.9% in the 3rd quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider’s stock valued at $32,482,000 after buying an additional 86,290 shares during the last quarter. World Equity Group Inc. boosted its position in Bank of America by 21.8% in the 3rd quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider’s stock valued at $3,779,000 after buying an additional 13,119 shares during the last quarter. Finally, AdvisorShares Investments LLC acquired a new stake in shares of Bank of America during the third quarter valued at about $482,000. Institutional investors and hedge funds 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.