Bank of America (NYSE:BAC) Upgraded to “Buy” at HSBC

HSBC upgraded shares of Bank of America (NYSE:BAC) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Marketbeat reports. HSBC currently has $57.00 target price on the financial services provider’s stock.

A number of other research analysts also recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, January 27th. JPMorgan Chase & Co. upped their price objective on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Morgan Stanley reduced their price objective on Bank of America from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Thursday, January 15th. Evercore set a $59.00 target price on Bank of America in a research report on Thursday, January 15th. Finally, Barclays boosted their target price on Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Twenty-three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.54.

Bank of America Price Performance

Shares of NYSE:BAC opened at $49.29 on Wednesday. The company has a market capitalization of $352.20 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.19 and a beta of 1.23. The company’s 50-day moving average is $50.79 and its 200 day moving average is $52.23. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America has a fifty-two week low of $33.06 and a fifty-two week high of $57.55.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 earnings per share. On average, equities research analysts forecast that Bank of America will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 6th were given a dividend of $0.28 per share. The ex-dividend date was Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.3%. Bank of America’s dividend payout ratio is currently 29.24%.

Insider Transactions at Bank of America

In related news, insider Thomas M. Scrivener sold 50,000 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the sale, the insider directly owned 227,973 shares in the company, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of the 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 sale, the insider directly owned 170,184 shares in the company, valued at $7,988,436.96. This trade represents a 35.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 227,832 shares of company stock valued at $11,094,960 over the last three months. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Abound Financial LLC bought a new position in shares of Bank of America in the fourth quarter valued at approximately $26,000. Wiser Advisor Group LLC bought a new stake in Bank of America during the 3rd quarter worth approximately $27,000. Steph & Co. lifted its stake in Bank of America by 224.3% in the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 379 shares in the last quarter. Legacy Bridge LLC lifted its stake in Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 330 shares in the last quarter. Finally, Marquette Asset Management LLC bought a new position in Bank of America in the 3rd quarter valued at $30,000. Hedge funds and other 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: Broker upgrades and favorable earnings setup: Multiple firms (HSBC, Wells Fargo, Jefferies) have recently published constructive takes or buy ratings and Jefferies highlighted a 5–7% net interest income growth outlook over the next five years — supporting higher earnings and dividend capacity. HSBC upgrade Wells Fargo buy Jefferies NII outlook
• Positive Sentiment: Business wins and product launches: BAC is partnering on new co-brand credit cards (Royal ONE™ and Royal ONE Plus™) with Royal Caribbean — a revenue-generating consumer payments initiative that expands card fee and spend-related income. Royal Caribbean card partnership
• Positive Sentiment: Earnings momentum and capital-markets activity: Analysts note BAC’s strong earnings-surprise record and the bank’s expanding capital markets activity on the NYSE composite — both support confidence in future results and fee income. Zacks on earnings beat potential Capital markets expansion
• Neutral Sentiment: Analyst price-target moves are mixed: Morgan Stanley trimmed its price target (from $67 to $61) but kept an overweight rating — the move reduces upside expectations slightly while keeping institutional support intact. MarketScreener: MS PT change
• Neutral Sentiment: BofA’s analyst activity underscores franchise strength but is not direct BAC news: The bank’s research and trading coverage (Netflix, Micron, CoreWeave, etc.) highlight its institutional capabilities — a reputational positive but only indirectly supportive of BAC’s stock. BofA research on Netflix
• Negative Sentiment: Legal settlement: BAC disclosed a $72.5 million civil lawsuit settlement — a modest one-time charge relative to its capital but a visible near-term headline that can weigh on sentiment. MSN: settlement
• Negative Sentiment: Macro risk flagged by BofA research: The bank’s own strategists warn of “mild stagflation” and oil near $100, which could slow economic growth and pressure credit quality and consumer spending — a negative backdrop for banks if it materializes. TipRanks: stagflation warning
• Negative Sentiment: Insider/large-holder activity: Reports that Warren Buffett/Berkshire reduced BAC exposure (sold ~50% of a stake) have circulated — this can create headline noise and short-term selling pressure even if strategic ownership remains large. Fool: Buffett sells BAC

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.