Bank of America (NYSE:BAC) Upgraded to Buy at HSBC

Bank of America (NYSE:BAC) was upgraded by equities researchers at HSBC from a “hold” rating to a “buy” rating in a research report issued on Wednesday,Finviz reports. The brokerage currently has a $57.00 price target on the financial services provider’s stock. HSBC’s target price would indicate a potential upside of 16.98% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Jefferies Financial Group initiated coverage on Bank of America in a research note on Thursday, March 26th. They issued a “buy” rating and a $60.00 price target on the stock. Erste Group Bank cut Bank of America from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Wells Fargo & Company boosted their target price on Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. The Goldman Sachs Group reduced their price target on Bank of America from $67.00 to $57.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.67.

Bank of America Price Performance

Shares of NYSE BAC opened at $48.73 on Wednesday. Bank of America has a 1 year low of $33.06 and a 1 year high of $57.55. The stock has a market capitalization of $348.17 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.15 and a beta of 1.28. The company’s 50-day moving average is $50.85 and its 200 day moving average is $52.25. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80.

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

Insider Activity at Bank of America

In other news, insider Thomas M. Scrivener sold 50,000 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the transaction, the insider directly owned 227,973 shares in the company, valued at $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Demare sold 83,832 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the transaction, the insider directly owned 307,240 shares in the company, valued at $15,362,000. This trade represents a 21.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 227,832 shares of company stock worth $11,094,960. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bank of America

A number of hedge funds have recently bought and sold shares of BAC. J. Derek Lewis & Associates Inc. purchased a new position in shares of Bank of America in the 4th quarter worth approximately $1,298,000. Purpose Unlimited Inc. purchased a new stake in Bank of America during the 4th quarter valued at $65,000. Cornerstone Planning LLC purchased a new stake in Bank of America during the 4th quarter valued at $4,250,000. Bank of New Hampshire lifted its position in Bank of America by 1.8% in the fourth quarter. Bank of New Hampshire now owns 53,504 shares of the financial services provider’s stock worth $2,943,000 after buying an additional 956 shares during the last quarter. Finally, World Investment Advisors lifted its position in Bank of America by 45.1% in the fourth quarter. World Investment Advisors now owns 244,191 shares of the financial services provider’s stock worth $13,431,000 after buying an additional 75,920 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Jefferies highlights a favorable net interest income outlook for Bank of America — the firm projects 5%–7% net interest income growth over the next five years as fixed-rate assets reprice, supporting earnings power and dividend capacity. Jefferies Touts Bank of America Corporation (BAC) Interest Income Outlook
• Positive Sentiment: Wells Fargo issues a Buy on BAC — another large-bank analyst upgrade provides validation for BAC’s franchise and likely supports buying interest from institutional investors. Bank of America (BAC) Receives a Buy from Wells Fargo
• Positive Sentiment: Royal Caribbean partners with Bank of America to launch tri?branded Royal ONE credit cards — this deal expands consumer card volumes, co?brand revenue and potential customer engagement for BAC’s consumer?payments business. ROYAL CARIBBEAN GROUP ENHANCES TRAVEL LOYALTY, PARTNERS WITH BANK OF AMERICA TO LAUNCH ROYAL ONE™ AND ROYAL ONE PLUS™ CREDIT CARDS
• Positive Sentiment: Regulatory tailwind: reports that the Fed is set to loosen certain capital rules could boost big banks’ ability to lend and return capital, a structural benefit for large, diversified lenders like BAC. Fed Set to Loosen Capital Rules: A Boost for Goldman’s Expansion
• Neutral Sentiment: Debate over relative bank picks — coverage comparing JPMorgan and Bank of America as top banking stocks for 2026 signals sector interest but is not a direct catalyst for BAC’s fundamentals. JPMorgan or Bank of America: Jefferies Names the Top Banking Stock to Buy for 2026
• Neutral Sentiment: Valuation conversation: articles questioning whether BAC is attractively priced after recent weakness provide context for investors weighing entry points, but they summarize metrics rather than new fundamental changes. Is Bank Of America (BAC) Attractively Priced After Recent Share Price Weakness?
• Negative Sentiment: Large shareholder selling: filings and reporting indicate Warren Buffett/Berkshire reduced its Bank of America stake materially in recent quarters — that sizable selling pressure from a marquee holder can weigh on sentiment and supply/demand dynamics. Warren Buffett Went Out With a Bang by Selling 50% of His Bank of America Stake and Piling Into One of the Hottest Oil Stocks on Wall Street
• Negative Sentiment: Security incident probe: French authorities are investigating a thwarted bomb attempt outside a Bank of America location, raising short?term operational and reputational concerns (limited direct financial impact but a headline risk). ‘They use proxies’: France probes possible Iran link to thwarted bomb attack outside of a Bank of America

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.