Bank of America (NYSE:BAC) Trading Up 3.2% – Time to Buy?

Shares of Bank of America Corporation (NYSE:BAC) were up 3.2% during trading on Thursday . The stock traded as high as $54.33 and last traded at $54.0570. Approximately 50,876,779 shares traded hands during mid-day trading, an increase of 28% from the average daily volume of 39,673,023 shares. The stock had previously closed at $52.40.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America plans to launch a new cross-border real-time payments tool in the third quarter, which could deepen relationships with corporate and institutional clients while improving payment speed, tracking, and cost efficiency. Bank of America to Launch Cross-Border Real-Time Payments, Expanding Global Payment Choice
• Positive Sentiment: Analyst sentiment remains constructive, with reports noting that 84% of the 25 analysts covering BAC rate it a Buy and that the average price target implies more than 20% upside. Here’s Why Bank of America Corporation (BAC) is Among the Best Low Cost Stocks
• Positive Sentiment: Bank of America’s wealth-management arm, Merrill, was recognized across three 2026 Barron’s rankings, reinforcing the franchise’s strength in private wealth and advisory services. Merrill Advisors and Teams Earn Recognition Across Three 2026 Barron’s Lists
• Neutral Sentiment: Financial stocks were broadly higher in Thursday afternoon trading, providing a favorable sector tailwind for BAC. Sector Update: Financial Stocks Rise Thursday Afternoon
• Neutral Sentiment: Reuters reported that Bank of America is participating in flashy events tied to the upcoming SpaceX IPO, which highlights dealmaking activity but does not yet indicate a direct financial impact. Wall Street banks and CEOs promote SpaceX in flashy events with BofA, Morgan Stanley, JPM events planned
• Negative Sentiment: Jim Cramer’s remarks on BAC were cautious, saying there may be “something that’s not that great happening there,” which could temper sentiment around the stock. Jim Cramer on Bank of America: “There’s Something That’s Not That Great Happening There”

Analyst Upgrades and Downgrades

Several analysts recently commented on BAC shares. Evercore reduced their target price on Bank of America from $70.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. The Goldman Sachs Group upped their target price on Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. reduced their target price on Bank of America from $61.50 to $57.50 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Argus upped their target price on Bank of America from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, Autonomous Res cut their price target on Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.06.

Bank of America Price Performance

The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The business has a fifty day simple moving average of $51.40 and a 200-day simple moving average of $52.28. The stock has a market capitalization of $383.62 billion, a P/E ratio of 13.38, a PEG ratio of 0.89 and a beta of 1.18.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. Bank of America’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts expect that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s dividend payout ratio is presently 27.72%.

Insider Buying and Selling

In other news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bernard A. Mensah sold 94,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total value of $4,412,360.00. Following the transaction, the insider directly owned 170,184 shares in the company, valued at $7,988,436.96. The trade was a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bank of America

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Bank of America by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock valued at $35,809,225,000 after buying an additional 23,351,183 shares during the last quarter. Capital World Investors raised its position in Bank of America by 11.0% in the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock valued at $7,448,816,000 after buying an additional 14,275,810 shares during the last quarter. Norges Bank purchased a new stake in Bank of America in the 4th quarter valued at $4,774,210,000. Bank of New York Mellon Corp increased its position in shares of Bank of America by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock valued at $3,169,062,000 after purchasing an additional 2,929,779 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Bank of America by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock valued at $2,958,110,000 after purchasing an additional 1,105,833 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

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.