Bank of America (NYSE:BAC) Shares Down 3.3% – Here’s What Happened

Posted by Stanley Muller on Nov 7th, 2026

Bank of America Corporation (NYSE:BAC – Get Free Report) shares fell 3.3% during mid-day trading on Thursday. The company traded as low as $49.76 and last traded at $49.91. 60,581,174 shares traded hands during mid-day trading, an increase of 60% from the average session volume of 37,786,801 shares. The stock had previously closed at $51.63.

Key Bank of America News

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

Positive Sentiment: Bank of America may have room to grow revenue by offering more banking products to Merrill clients, supported by rising wealth balances and lending growth. Read article: BAC Sees Untapped Merrill Banking Potential
Neutral Sentiment: Consumer banking chief Holly O’Neill expressed optimism about AI’s potential for financial innovation, but the interview did not announce a specific initiative or financial target. Read article: Bank of America’s Holly O’Neill on AI
Negative Sentiment: A securities class action has been filed on behalf of investors who acquired BAC shares from August 1, 2025, through October 13, 2026. The suit alleges misleading statements; the claims have not been proven. The lead-plaintiff deadline is December 15, adding legal and reputational uncertainty. Read article: Securities class action notice
Negative Sentiment: Investor-law-firm notices also spotlight Senator Elizabeth Warren’s call for a Justice Department criminal investigation following the bank’s admission that it willfully violated federal anti-money-laundering laws. Further scrutiny could increase legal, compliance, and reputational risks. Read article: BAC investor alert on regulatory scrutiny

Analyst Ratings Changes

BAC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on Bank of America from $62.00 to $59.50 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Truist Financial lowered their price objective on shares of Bank of America from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, October 15th. Phillip Securities upgraded shares of Bank of America to a “strong-buy” rating in a research note on Friday, October 16th. Argus set a $70.00 price target on Bank of America in a research note on Wednesday, July 15th. Finally, Rothschild & Co Redburn set a $72.00 price target on shares of Bank of America in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and an average price target of $62.48.

Check Out Our Latest Analysis on Bank of America

Bank of America Price Performance

The company has a 50-day moving average of $55.24 and a two-hundred day moving average of $54.89. The stock has a market capitalization of $341.82 billion, a PE ratio of 11.77, a P/E/G ratio of 0.87 and a beta of 1.19. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82.

Bank of America (NYSE:BAC – Get Free Report) last posted its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.02). The business had revenue of $29.96 billion during the quarter, compared to analysts’ expectations of $30.58 billion. Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 EPS. Sell-side analysts predict that Bank of America Corporation will post 4.51 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be given a $0.32 dividend. The ex-dividend date is Friday, December 4th. This represents a $1.28 annualized dividend and a dividend yield of 2.6%. Bank of America’s dividend payout ratio (DPR) is presently 30.40%.

Hedge Funds Weigh In On Bank of America

Several hedge funds and other institutional investors have recently made changes to their positions in BAC. MSH Capital Advisors LLC lifted its position in shares of Bank of America by 5.1% during the 3rd quarter. MSH Capital Advisors LLC now owns 19,758 shares of the financial services provider’s stock valued at $1,075,000 after acquiring an additional 967 shares during the last quarter. Cornerstone Advisory LLC grew its holdings in shares of Bank of America by 6.3% in the 3rd quarter. Cornerstone Advisory LLC now owns 28,619 shares of the financial services provider’s stock worth $1,558,000 after acquiring an additional 1,684 shares during the last quarter. Wellington Grp LLC grew its holdings in shares of Bank of America by 50.5% in the 3rd quarter. Wellington Grp LLC now owns 26,327 shares of the financial services provider’s stock worth $1,433,000 after acquiring an additional 8,839 shares during the last quarter. Bernicke Wealth Management Ltd. acquired a new stake in shares of Bank of America during the third quarter worth $2,002,000. Finally, Vista Capital Partners Inc. acquired a new stake in shares of Bank of America during the third quarter worth $634,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Company Profile

(Get Free Report)

Bank of America Corporation is a financial services company serving consumers, businesses, institutional investors and government entities. Its offerings include checking and savings accounts, credit and debit cards, mortgages, auto loans and other lending, as well as payment and treasury services.

The company also provides investment and wealth management through Merrill and Bank of America Private Bank, and serves corporate and institutional clients with commercial banking, capital markets, trading and advisory services.

Bank of America traces its history to the Bank of Italy, founded in San Francisco in 1904 by Amadeo Peter Giannini.