Bank of America (NYSE:BAC) Price Target Raised to $57.00 at HSBC

Bank of America (NYSE:BAC) had its price target boosted by HSBC from $55.00 to $57.00 in a report released on Friday,MarketScreener reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. HSBC’s price target points to a potential upside of 2.08% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Dbs Bank upgraded Bank of America to a “moderate buy” rating in a research report on Wednesday, October 22nd. The Goldman Sachs Group upped their target price on Bank of America from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Truist Financial reduced their price objective on shares of Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Argus lifted their target price on shares of Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Finally, Barclays upped their price target on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.30.

Bank of America Stock Up 1.6%

Bank of America stock opened at $55.84 on Friday. The business’s 50-day moving average price is $54.32 and its 200 day moving average price is $51.74. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm has a market cap of $407.76 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29. Bank of America has a 52 week low of $33.06 and a 52 week high of $57.55.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $27.73 billion. During the same quarter last year, the company earned $0.82 EPS. The business’s revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Bank of America will post 3.7 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BAC. Brighton Jones LLC increased its stake 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 worth $4,785,000 after purchasing an additional 25,143 shares during the period. Sivia Capital Partners LLC increased its stake in Bank of America by 40.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 6,174 shares during the period. Clear Creek Financial Management LLC lifted its holdings in Bank of America by 8.0% during the 2nd quarter. Clear Creek Financial Management LLC now owns 9,413 shares of the financial services provider’s stock worth $445,000 after buying an additional 698 shares in the last quarter. Fulton Breakefield Broenniman LLC purchased a new position in Bank of America in the 2nd quarter valued at approximately $212,000. Finally, Leo Wealth LLC grew its stake in shares of Bank of America by 75.4% in the second quarter. Leo Wealth LLC now owns 13,187 shares of the financial services provider’s stock worth $624,000 after acquiring an additional 5,669 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America News Summary

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

• Positive Sentiment: Bank of America is reported to be revamping its credit-card product lineup with an AI-driven refresh aimed at boosting consumer profitability and keeping cards competitive; investors often view card product upgrades and steady dividends as incremental revenue and margin positives for big banks. AI?Driven Card Revamp and Steady Dividends
• Positive Sentiment: Bank of America announced the full redemption of its Series DD preferred stock, removing that claim on capital and modestly simplifying the bank’s capital structure — a move that can be neutral-to-positive for common shareholders by reducing preferred dividend obligations. Series DD Redemption
• Neutral Sentiment: Chief Investment Strategist Michael Hartnett’s call that mid?caps are the preferred play ahead of U.S. midterms (versus mega-cap tech) is coming from BoA research — useful for market positioning and likely to influence client flows but not an immediate driver of BAC’s fundamentals. Hartnett on Midcaps
• Neutral Sentiment: Bank of America Securities published several analyst ratings on other companies today (routine sell?side activity); this highlights the scale of BoA’s research business but is unlikely to move BAC shares directly. BofA Securities Analyst Notes
• Negative Sentiment: BoA research issued a blunt warning about the dollar’s next move — FX volatility or a stronger dollar can pressure trading revenues, corporate FX flows and market sentiment, adding an element of risk for bank revenues tied to markets activity. Dollar Warning
• Negative Sentiment: Reuters reports banks (including big U.S. banks) ramped up lobbying spend — while expected, higher regulatory engagement can signal greater policy risk and incremental costs for large banks. Increased Lobbying Spend

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.