Bank of America Corporation (NYSE:BAC) Receives $62.60 Average Target Price from Analysts

Shares of Bank of America Corporation (NYSE:BAC) have earned an average rating of “Moderate Buy” from the twenty-seven analysts that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $63.7708.

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lifted 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 note on Thursday, April 16th. Royal Bank Of Canada raised their target price on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays lifted their price target on Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group boosted their price target on Bank of America from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Wells Fargo & Company upped their price objective on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday.

Insider Activity at Bank of America

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

Hedge Funds Weigh In On Bank of America

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAC. Vanguard Group Inc. lifted its stake in shares of 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 valued at $35,809,225,000 after acquiring an additional 23,351,183 shares during the last quarter. Norges Bank bought a new stake in Bank of America during the 4th quarter worth $4,774,210,000. Bank of New York Mellon Corp increased 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 purchasing an additional 2,929,779 shares in the last quarter. Fisher Asset Management LLC increased 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 purchasing an additional 1,105,833 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Bank of America by 5.9% in the fourth quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider’s stock valued at $2,594,488,000 after purchasing an additional 2,611,776 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 0.5%

NYSE BAC opened at $61.18 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.23. Bank of America has a 1-year low of $44.75 and a 1-year high of $62.12. The company has a 50 day moving average of $55.30 and a 200-day moving average of $53.15. The company has a market cap of $434.16 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.99 and a beta of 1.17.

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

Bank of America Dividend Announcement

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

Key Stories Impacting Bank of America

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.