Bank of America (NYSE:BAC) Trading Up 1.1% Following Analyst Upgrade

Bank of America Corporation (NYSE:BAC)’s stock price traded up 1.1% on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $62.50 to $68.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Bank of America traded as high as $61.93 and last traded at $61.7550. 24,441,034 shares changed hands during trading, a decline of 37% from the average daily volume of 38,541,918 shares. The stock had previously closed at $61.07.

BAC has been the subject of a number of other reports. Wells Fargo & Company lifted their target price on Bank of America from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. UBS Group raised their price target on Bank of America from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Truist Financial boosted their price objective on Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. The Goldman Sachs Group upped their price objective on Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Finally, Citigroup increased their target price on Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction 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 sale, the insider owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

More Bank of America News

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

• Positive Sentiment: JPMorgan raises BAC price target: JPMorgan upgraded Bank of America to “Overweight” and lifted its price target from $62.50 to $68.00, implying additional upside and reinforcing positive Wall Street sentiment.
• Positive Sentiment: Higher earnings expectations: Erste Group increased its Bank of America EPS forecasts to $4.64 for 2026 and $5.20 for 2027, citing improved earnings prospects. The estimates are broadly in line with consensus for 2026 and above consensus for 2027. Erste Group raises Bank of America earnings estimates
• Positive Sentiment: Financial-sector rotation: Investors have been reallocating money from high-priced AI and semiconductor stocks into financials, which have benefited from strong investment-banking activity, AI-related financing fees, solid Q2 results and comparatively modest valuations. BAC trades at roughly 13–14 times earnings and recently raised its dividend by 14% to $0.32 per share. Bank stocks and financial-sector rotation
• Positive Sentiment: AI adoption may support profitability: A recent valuation analysis argues that Bank of America remains reasonably priced despite its substantial three-year rally. Increased use of AI in operations and client services could improve efficiency and support future earnings growth. Bank of America valuation and AI expansion analysis
• Neutral Sentiment: Strong recent fundamentals: Bank of America’s latest quarterly report exceeded expectations, with EPS of $1.21 versus $1.13 expected and revenue of $31.56 billion versus $30.78 billion expected. Consumer spending also remained resilient, providing support for near-term operating performance.
• Negative Sentiment: Federal Reserve uncertainty remains a risk: Wall Street analysts criticized Fed Chair Kevin Warsh’s explanation for holding rates steady despite persistent inflation. Uncertainty over the timing and direction of future rate decisions could increase volatility for BAC and pressure bank stocks’ recent leadership. Wall Street reaction to the Fed decision

Institutional Trading of Bank of America

A number of institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in shares of Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock worth $4,785,000 after buying an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Bank of America by 40.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock valued at $1,013,000 after acquiring an additional 6,174 shares during the last quarter. Jump Financial LLC boosted its position in shares of Bank of America by 38.4% during the 2nd quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock valued at $3,108,000 after purchasing an additional 18,227 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in Bank of America during the second quarter valued at approximately $1,396,000. Finally, Vivaldi Capital Management LP boosted its holdings in Bank of America by 4.2% during the second quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock worth $417,000 after buying an additional 355 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Trading Up 1.1%

The firm has a 50 day moving average price of $57.08 and a two-hundred day moving average price of $53.45. The firm has a market capitalization of $438.25 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.00 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. The firm had revenue of $31.56 billion for the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 EPS. On average, equities research analysts expect that Bank of America Corporation will post 4.67 EPS for the current fiscal year.

Bank of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.32 dividend. The ex-dividend date is Friday, September 4th. This is an increase from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America’s dividend payout ratio is currently 29.36%.

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.