Shares of Bank of America Corporation (NYSE:BAC) have been given an average recommendation of “Moderate Buy” by the twenty-seven brokerages that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $61.0208.
A number of research analysts have commented on BAC shares. The Goldman Sachs Group raised their target price on shares of Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Erste Group Bank downgraded shares of Bank of America from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Jefferies Financial Group raised their target price on shares of Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Oppenheimer raised their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Finally, Piper Sandler lifted their price objective on shares of Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th.
Bank of America Trading Up 1.3%
Bank of America (NYSE:BAC – Get Free Report) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. The business had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. Equities analysts forecast that Bank of America will post 4.46 EPS for the current fiscal year.
Bank of America Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America’s payout ratio is presently 27.72%.
Insider Transactions at Bank of America
In other news, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the transaction, the insider owned 227,973 shares of the company’s stock, valued at $11,357,614.86. The trade was a 17.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction that occurred 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 approximately $15,362,000. The trade was a 21.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 227,832 shares of company stock valued at $11,094,960 in the last 90 days. Insiders own 0.27% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the company. Whipplewood Advisors LLC grew its position in shares of Bank of America by 1,893.9% in the 1st quarter. Whipplewood Advisors LLC now owns 977 shares of the financial services provider’s stock worth $48,000 after buying an additional 928 shares during the last quarter. Range Financial Group LLC grew its position in Bank of America by 5.0% during the 1st quarter. Range Financial Group LLC now owns 9,204 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 436 shares during the last quarter. Main Street Research LLC grew its position in Bank of America by 7.4% during the 1st quarter. Main Street Research LLC now owns 11,943 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 825 shares during the last quarter. Mosaic Family Wealth Partners LLC grew its position in Bank of America by 0.5% during the 1st quarter. Mosaic Family Wealth Partners LLC now owns 39,730 shares of the financial services provider’s stock worth $1,937,000 after purchasing an additional 195 shares during the last quarter. Finally, Money Concepts Capital Corp grew its position in Bank of America by 65.2% during the 1st quarter. Money Concepts Capital Corp now owns 8,199 shares of the financial services provider’s stock worth $400,000 after purchasing an additional 3,235 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.
Key Bank of America News
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Prominent bullish endorsement from Jim Cramer calling BofA “a plain out buy,” which can drive short‑term retail and momentum flows. Jim Cramer Believes “Bank of America’s Way Too Cheap, It Should Be Bought”
- Positive Sentiment: Bank extended its large co‑brand credit card deal with Alaska Air—its biggest co‑brand partnership—which supports card revenue visibility; the article also highlights sizable share buybacks ($18.66B over the prior 12 months), a direct capital return that boosts EPS and supports the share price. BAC Stock In Focus After Multi-Year Alaska Air Extension
- Positive Sentiment: ETF/flow dynamics: coverage notes that BAC is being watched by Russell 1000 ETF activity — passive/quant flows can prop up large-cap bank shares when indexes or rebalance activity favor them. Bank Of America Stock Climbs As Russell 1000 ETF Watches
- Neutral Sentiment: Research franchise highlights — BofA analysts continue to move ratings/targets across large coverage names (examples: upward moves on Western Digital and Caterpillar, and coverage actions on other consumer names). This underscores BofA’s investment‑banking/markets footprint but is an indirect driver of the bank’s stock. Bank of America Points to Supply-Demand Imbalance Favoring Western Digital (WDC)
- Neutral Sentiment: Macro/content pieces from BofA (e.g., bold silver price scenarios) showcase research insights but don’t directly change bank fundamentals; they are more about the firm’s sightlines than immediate BAC earnings. Silver Prices Have Pulled Back, But Bank of America Predicts They Could Soar to $309 Before the End of 2026. How?
- Positive Sentiment: Management/advice narratives: BofA’s own market commentary (e.g., telling investors to ignore “sell in May” and hold) can bolster investor confidence and reduce seasonality‑driven selling. Bank of America advises investors to ignore the ‘sell in May and go away’ axiom and hold strong this year. Here’s why
- Negative Sentiment: Credit‑market watch: BofA research warns non‑traded private credit BDC redemption requests likely peak in Q2, signaling stress/liquidity pressures in parts of the credit market — a factor to monitor because worsening credit conditions could eventually pressure bank provisions and lending demand. Private credit BDC redemption requests likely to peak in Q2 2026 – BofA
- Neutral Sentiment: Operational strategy note: coverage mentions a renewed focus on branches (branch‑opening spree article) — a strategic choice that may raise near‑term costs but could support deposit and local lending growth over time. This major bank is going on a branch-opening spree
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.
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