Bank of America (NYSE:BAC) Price Target Cut to $58.00 by Analysts at Daiwa Securities Group

Bank of America (NYSE:BAC) had its price objective decreased by Daiwa Securities Group from $62.00 to $58.00 in a report issued on Tuesday,MarketScreener reports. Daiwa Securities Group currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts have also commented on the stock. Royal Bank Of Canada raised their price target on shares of Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. TD Cowen reduced their price objective on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Wednesday, April 1st. Erste Group Bank downgraded shares of Bank of America from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Bank of America from $61.50 to $57.50 and set an “overweight” rating on the stock in a research note on Tuesday. Twenty-three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.90.

Bank of America Price Performance

NYSE:BAC opened at $50.26 on Tuesday. Bank of America has a 52 week low of $33.06 and a 52 week high of $57.55. The firm has a market cap of $359.15 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.20 and a beta of 1.23. The firm’s 50-day simple moving average is $50.61 and its 200 day simple moving average is $52.19. 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 (NYSE:BAC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same period last year, the firm earned $0.82 earnings per share. Bank of America’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, sell-side analysts predict that Bank of America will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is presently 29.24%.

Insider Activity

In other news, insider James P. Demare sold 83,832 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the sale, the insider directly owned 307,240 shares in the company, valued at approximately $15,362,000. This trade represents a 21.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the completion of the sale, the insider owned 170,184 shares in the company, valued at approximately $7,988,436.96. The trade was a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 227,832 shares of company stock worth $11,094,960. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bank of America

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Bank of America by 3.7% during 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 position in Bank of America by 11.0% during 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 acquired a new stake in Bank of America during the 4th quarter worth approximately $4,774,210,000. Bank of New York Mellon Corp boosted its position in Bank of America by 5.4% during 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 position in Bank of America by 2.1% during 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. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Key Bank of America News

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

• Positive Sentiment: Evercore ISI reaffirmed a Buy stance on BAC, providing direct dealer support for the stock and helping investor confidence. Evercore ISI Sticks to Its Buy Rating for Bank of America (BAC)
• Positive Sentiment: Goldman Sachs raised its price target to $58 (maintained Buy), a constructive signal that may attract buyers given BAC’s valuation and dividend/buyback story. Goldman raises BAC PT to $58
• Positive Sentiment: Strategic/operational recognition: BofA was named the No.1 global OCIO provider for nonprofits in 2025, highlighting fee-business strength and long-term client relationships that support non‑interest revenue. BofA Named No.1 Nonprofit OCIO Provider Globally in 2025
• Neutral Sentiment: Preview/earnings context: Analysts and commentaries flag the upcoming Q1 report as pivotal for 2026 guidance — the market is focused more on earnings stability than upside reacceleration. This keeps volatility possible but doesn’t decisively change the medium-term thesis. Bank of America Earnings: A Pivotal Report For 2026 Expectations
• Neutral Sentiment: Sector/context: BofA analysts expect US banks to deliver broadly in‑line to slightly better Q1 results; sector tailwinds from NII remain but are increasingly questioned. This supports the name relative to peers but keeps results event-driven. US banks set to deliver solid first quarter results
• Neutral Sentiment: Relative positioning: comparison pieces (e.g., BAC vs PNC) and long‑term bull commentary keep BAC in investors’ focus as a scale-driven bank, but these are background factors rather than immediate catalysts. BAC vs. PNC: Which Wins When Picking Between Scale & Stability?
• Negative Sentiment: Several firms trimmed price targets (JPMorgan to $57.50, Daiwa to $58, Evercore Inc. to $55, Autonomous to $54). While many maintained buy/overweight stances, the downward PT revisions cap near‑term upside and signal caution from analysts. JPMorgan lowers BAC PT Daiwa lowers BAC PT
• Negative Sentiment: Macro/earnings risk: commentary notes that much downside may already be priced in, but the fading rate tailwind and sensitivity of NII to Fed moves remain a tangible downside risk heading into Q1. Bank Of America: Heading Into Q1 With More Priced In Than Left To Price Rate tailwind fading

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.