Bank of America (NYSE:BAC) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Bank of America (NYSE:BAC) had its price target upped by equities researchers at Jefferies Financial Group from $60.00 to $65.00 in a research note issued on Thursday,MarketScreener reports. The firm currently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 20.54% from the company’s previous close.

Several other research firms also recently weighed in on BAC. Erste Group Bank downgraded Bank of America from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Daiwa Securities Group reduced their target price on shares of Bank of America from $62.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. UBS Group reduced their target price on shares of Bank of America from $67.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Oppenheimer boosted their target price on shares of Bank of America from $58.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Wolfe Research downgraded shares of Bank of America from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.90.

Bank of America Stock Performance

BAC stock opened at $53.92 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.80. The business has a 50-day moving average price of $50.45 and a 200 day moving average price of $52.25. The company has a market capitalization of $385.31 billion, a P/E ratio of 13.35, a PEG ratio of 0.92 and a beta of 1.23. Bank of America has a 1-year low of $36.49 and a 1-year high of $57.55.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. As a group, equities research analysts forecast that Bank of America will post 3.7 EPS for the current fiscal year.

Insider Activity

In other news, insider Bernard A. Mensah sold 94,000 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 170,184 shares in the company, valued at $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James P. Demare sold 83,832 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the transaction, the insider owned 307,240 shares in the company, valued at approximately $15,362,000. This trade represents a 21.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 227,832 shares of company stock worth $11,094,960 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bank of America

Hedge funds have recently modified their holdings of the stock. Abound Financial LLC acquired a new position in shares of Bank of America during the fourth quarter valued at about $26,000. Legacy Bridge LLC increased its holdings in shares of Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 330 shares in the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Bank of America during the third quarter valued at about $27,000. CrossGen Wealth LLC acquired a new position in shares of Bank of America during the fourth quarter valued at about $30,000. Finally, Collier Financial acquired a new position in shares of Bank of America during the third quarter valued at about $30,000. Institutional investors and hedge funds 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: Q1 results beat expectations: BAC reported a “monster” quarter with revenue up ~7% and adjusted EPS $1.11, above consensus, driven by broad-based growth and strong capital markets performance — the core reason investors bid the stock up. Bank of America Posts Monster Quarter
• Positive Sentiment: Multiple analysts raised price targets/ratings after the beat (Goldman, Jefferies, Evercore, Argus, Keefe Bruyette & Woods, HSBC, RBC and others), lifting sentiment and providing technical catalyst for further buying. Goldman Sachs raises price target
• Positive Sentiment: KBW reiterated/initiated a Buy (outperform) on BAC, adding institutional endorsement that can attract fund flows. KBW Buy on BAC
• Positive Sentiment: Strategic win: Bank of America rolled out an AI tool for its ~18,000 financial advisors — a sign management is investing in scalable, fee‑generating capabilities that can improve retention and cross‑sell over time. AI tool for advisers
• Neutral Sentiment: Capital/ liability management: BAC announced the redemption of €1.5B of senior notes due 2027 (to be redeemed May 4) — shows active maturity management but will use capital; impact depends on funding and rates. Redemption of senior notes
• Neutral Sentiment: Preferred dividends declared for multiple series with upcoming record/payment dates — routine corporate action that matters to preferred holders but is not a surprise for common equity investors. Preferred dividends declared

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.