Bank of America (NYSE:BAC) Shares Down 2.5% – Time to Sell?

Posted by Brian Himes on Jul 10th, 2026

Shares of Bank of America Corporation (NYSE:BAC) traded down 2.5% during trading on Wednesday . The stock traded as low as $58.30 and last traded at $58.3840. Approximately 29,485,274 shares traded hands during trading, a decline of 24% from the average daily volume of 39,026,746 shares. The stock had previously closed at $59.86.

Key Headlines Impacting Bank of America

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

Positive Sentiment: Bank of America’s own consumer data showed spending rose 6.3%, the fastest pace in four years, with wage growth broad-based across all income groups. That suggests resilient consumer demand, which could support card spending and fee-driven revenue. BofA Consumer Chief: Spending Jumps 6.3% With Wage Growth Across “All Income Groups”
Positive Sentiment: Financial stocks are seeing fresh inflows, with Bank of America noting the sector attracted its biggest fund inflow since January, a sign that investors are rotating back into banks ahead of earnings season. Financial funds steal the spotlight with biggest inflow since January, Bofa says
Positive Sentiment: Analysts and traders are increasingly focused on BAC’s upcoming Q2 results, with commentary suggesting strong bank earnings could help lift financial ETFs and reinforce optimism around Bank of America’s revenue and EPS trends. Bank Earnings Look Strong Ahead of Q2: ETFs in Focus
Positive Sentiment: Bank of America Securities continues to highlight attractive opportunities in major financial and growth names, reinforcing the bank’s active role in market commentary and capital-markets activity. Bank of America Reports Q2 Earnings Next Week. What Investors Should Expect.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Bank of America from $57.50 to $62.50 and gave the stock an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods increased their target price on Bank of America from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Autonomous Res dropped their price target on Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Jefferies Financial Group boosted their price target on Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Oppenheimer lowered Bank of America from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.19.

Check Out Our Latest Stock Analysis on Bank of America

Bank of America Stock Performance

The stock has a 50 day simple moving average of $54.36 and a 200 day simple moving average of $52.93. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The stock has a market cap of $423.49 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 0.97 and a beta of 1.17.

Bank of America (NYSE:BAC – Get Free Report) last released its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. The firm had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. On average, equities analysts expect that Bank of America Corporation will post 4.51 earnings per share for the current year.

Bank of America Dividend Announcement

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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, June 5th. Bank of America’s dividend payout ratio is presently 27.72%.

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 1,373,397 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Bank of America

Several large investors have recently made changes to their positions in the company. Abound Financial LLC bought a new position in shares of Bank of America in the 4th quarter valued at $26,000. Wiser Advisor Group LLC bought a new stake in shares of Bank of America during the 3rd quarter worth $27,000. Legacy Bridge LLC boosted its stake in Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after buying an additional 330 shares in the last quarter. CrossGen Wealth LLC bought a new position in Bank of America in the fourth quarter valued at about $30,000. Finally, Joseph Group Capital Management acquired a new position in Bank of America during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Company Profile

(Get Free Report)

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.