Bank of America (NYSE:BAC) Stock Gets Price Target Cut from Citigroup

Posted by Francis Steltz on Oct 18th, 2026

Bank of America (NYSE:BAC) had its price objective lowered by Citigroup from $66.00 to $60.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other research analysts have also commented on BAC. Barclays lowered their price target on Bank of America from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Thursday. HSBC started coverage on shares of Bank of America in a research note on Monday, September 28th. They set a “buy” rating and a $65.00 price objective on the stock. Rothschild & Co Redburn set a $72.00 price objective on shares of Bank of America in a report on Tuesday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada decreased their target price on shares of Bank of America from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday. Twenty research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.52.

View Our Latest Research Report on Bank of America

Bank of America Stock Down 0.8%

BAC opened at $51.28 on Thursday. Bank of America has a 12 month low of $46.12 and a 12 month high of $65.22. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $358.59 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.83 and a beta of 1.21. The stock’s 50 day moving average price is $59.05 and its 200 day moving average price is $56.69.

Bank of America (NYSE:BAC – Get Free Report) last announced its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.02). Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The business had revenue of $29.96 billion for the quarter, compared to the consensus estimate of $30.58 billion. During the same period in the previous year, the firm earned $1.06 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. As a group, research analysts predict that Bank of America will post 4.54 earnings per share for the current year.

Bank of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.5%. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, September 4th. Bank of America’s payout ratio is currently 30.40%.

Hedge Funds Weigh In On Bank of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. boosted its position in shares of Bank of America by 3.6% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 168 shares in the last quarter. Orca Wealth Management LLC grew its stake in shares of Bank of America by 0.5% in the 2nd quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider’s stock worth $1,999,000 after purchasing an additional 179 shares during the last quarter. Financial Consulate Inc. grew its stake in shares of Bank of America by 4.0% in the 2nd quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 181 shares during the last quarter. Bedel Financial Consulting Inc. raised its holdings in shares of Bank of America by 1.1% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider’s stock worth $938,000 after purchasing an additional 184 shares in the last quarter. Finally, GatePass Capital LLC raised its holdings in shares of Bank of America by 3.6% in the 1st quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 190 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Key Headlines Impacting Bank of America

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

Positive Sentiment: Analyst support and potential earnings recovery: Baird upgraded BAC to Outperform with a $62 price target, while other analysts maintained Buy or Outperform ratings despite reducing targets. Management also projected at least 8% net interest income growth in 2027, supported by loan and deposit expansion. Baird Upgrades Bank of America Stock Despite a Soft Quarter
Positive Sentiment: Regulatory remediation is progressing: Bank of America said it has completed substantial work required under a consent order, potentially helping reduce longer-term compliance uncertainty. The bank’s CEO also described the U.S. economy as resilient and growing. Bank of America says it has completed a lot of work on consent order
Neutral Sentiment: Preferred dividends declared: The board authorized regular cash dividends on multiple preferred-stock series, payable in November and December. The announcement supports the bank’s capital-distribution profile but does not represent a new increase in BAC common-stock dividends. Bank of America Declares Preferred Stock Dividends
Negative Sentiment: Q3 earnings missed expectations: BAC reported adjusted earnings of $1.08 per share versus a $1.10 consensus, while revenue also fell short. A $1.2 billion anti-money-laundering and sanctions penalty reduced earnings, and expenses grew faster than revenue; weaker fixed-income trading and settlement costs added pressure. Bank of America Stock Sell-Off Looks Like a Buying Opportunity
Negative Sentiment: Compliance and litigation overhang: Senator Elizabeth Warren criticized the penalty as insufficient, while several law firms announced investigations into potential securities claims and fiduciary-duty issues. These developments could increase legal costs and prolong reputational concerns. Rosen Law Firm Investigation

About Bank of America

(Get Free Report)

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.