Bank of America (NYSE:BAC) Price Target Raised to $70.00

Bank of America (NYSE:BAC) had its target price hoisted by Keefe, Bruyette & Woods from $67.00 to $70.00 in a research note released on Wednesday 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. Royal Bank Of Canada restated an “outperform” rating and issued a $59.00 price target on shares of Bank of America in a research note on Thursday, April 16th. Barclays upped their price target on Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday. Oppenheimer cut Bank of America from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Argus lifted their price objective on Bank of America from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $75.00 target price on shares of Bank of America in a research report on Tuesday. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and an average price target of $63.77.

Bank of America Price Performance

Shares of BAC opened at $61.18 on Wednesday. Bank of America has a twelve month low of $44.75 and a twelve month high of $62.12. The company has a market capitalization of $434.16 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The firm has a 50 day moving average of $55.30 and a 200 day moving average of $53.15. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.23.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $30.78 billion. During the same period in the prior year, the firm posted $0.89 EPS. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, equities research analysts anticipate that Bank of America will post 4.64 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, June 5th. Bank of America’s dividend payout ratio is presently 27.72%.

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BAC. Abound Financial LLC bought a new stake in shares of Bank of America during the 4th quarter valued at about $26,000. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America during the 3rd quarter valued at about $27,000. Legacy Bridge LLC increased its position in shares of Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 330 shares during the last quarter. CrossGen Wealth LLC bought a new position in shares of Bank of America in the 4th quarter worth approximately $30,000. Finally, Joseph Group Capital Management bought a new position in shares of Bank of America in the 4th quarter worth approximately $32,000. Institutional investors own 70.71% of the company’s stock.

Bank of America News Roundup

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
• Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
• Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
• Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo

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.