Bank of America Corporation (NYSE:BAC)’s share price was down 1.6% during mid-day trading on Tuesday . The company traded as low as $56.84 and last traded at $56.9730. Approximately 34,664,783 shares traded hands during trading, a decline of 12% from the average session volume of 39,273,090 shares. The stock had previously closed at $57.88.
Key Bank of America News
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Morgan Stanley raised its price target on Bank of America to $67 from $61 and maintained an Overweight rating, signaling confidence in the bank’s upside potential. Benzinga article
- Positive Sentiment: Bank of America analysts also issued upbeat research on sectors like semiconductors, which can reflect positively on the firm’s market-research influence and broader investment-banking outlook. TipRanks article
- Neutral Sentiment: Bank of America confirmed it will report second-quarter 2026 results on July 14, which keeps investor attention focused on upcoming earnings and management commentary. PR Newswire article
- Neutral Sentiment: The company was mentioned in articles highlighting BAC as a long-term Berkshire Hathaway holding and a dividend stock to own forever, which reinforces its reputation as a stable large-cap financial name. Yahoo Finance article
- Negative Sentiment: The SEC fined Bank of America’s Merrill Lynch unit $7.5 million for failures in suspicious activity reporting, adding a modest but real regulatory overhang. Quiver Quant article
- Negative Sentiment: Separate reporting on the SEC settlement and compliance shortcomings could weigh on sentiment by reminding investors of ongoing oversight risk at the wealth-management unit. Yahoo Finance article
Analysts Set New Price Targets
BAC has been the subject of several research analyst reports. Jefferies Financial Group lifted their price target on shares of Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Daiwa Securities Group upped their price target on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Autonomous Res reduced their price objective on Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Truist Financial increased their target price on Bank of America from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Friday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $59.00 price target on shares of Bank of America in a research report on Thursday, April 16th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $61.60.
Bank of America Stock Performance
The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $404.31 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 0.98 and a beta of 1.19. The company’s 50 day moving average price is $53.45 and its 200-day moving average price is $52.71.
Bank of America (NYSE:BAC – Get Free Report) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts forecast that Bank of America Corporation will post 4.47 EPS for the current fiscal year.
Bank of America Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a $0.28 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 2.0%. Bank of America’s dividend payout ratio (DPR) is 27.72%.
Insider Activity at Bank of America
In other news, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction that occurred 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 owned 1,373,397 shares in the company, valued at $72,803,774.97. The trade was a 8.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Bank of America
Several large investors have recently made changes to their positions in BAC. Brighton Jones LLC grew its position in Bank of America by 30.0% during the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after buying an additional 25,143 shares during the period. Sivia Capital Partners LLC raised its position in Bank of America by 40.5% in the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after acquiring an additional 6,174 shares during the period. Jump Financial LLC grew its position in shares of Bank of America by 38.4% during the 2nd quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock valued at $3,108,000 after acquiring an additional 18,227 shares during the period. Nebula Research & Development LLC purchased a new stake in shares of Bank of America during the 2nd quarter worth approximately $1,396,000. Finally, Vivaldi Capital Management LP raised its holdings in shares of Bank of America by 4.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 355 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.
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.
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