Bank of America (NYSE:BAC) Trading Up 1% – Time to Buy?

Bank of America Corporation (NYSE:BAC) shares shot up 1% on Tuesday . The stock traded as high as $58.01 and last traded at $57.97. 29,783,677 shares changed hands during trading, a decline of 24% from the average session volume of 39,440,918 shares. The stock had previously closed at $57.37.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America’s latest Homebuyer Insights Report found that 53% of respondents now say buying a home is better than renting, the first majority reading since 2023. That suggests improving consumer confidence around housing and could support mortgage, lending, and consumer banking activity. Article Title
• Positive Sentiment: BofA also said lower-income households are closing the spending gap with higher-income consumers, which could indicate a healthier, broader consumer backdrop and better credit conditions than feared for the bank’s retail business. Article Title
• Neutral Sentiment: Separate BofA research raised targets on Micron, Qualcomm, ASML and other chip names, arguing AI demand could drive a major semiconductor upcycle. This is not a direct driver for BAC, but it reflects BofA’s generally constructive stance on market growth themes. Article Title
• Negative Sentiment: BofA’s economists turned more hawkish on the Federal Reserve, now expecting three rate hikes in 2026 and no cuts until 2028. Higher-for-longer rates could pressure broader economic activity and increase market volatility, even though banks can sometimes benefit from wider lending spreads. Article Title

Analyst Ratings Changes

Several equities analysts have recently issued reports on BAC shares. Jefferies Financial Group boosted their price objective on Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a report on Friday, April 24th. Citigroup lifted their price target on Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday. Daiwa Securities Group upped their price objective on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Finally, Robert W. Baird raised their price objective on shares of Bank of America from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.23.

Bank of America Trading Up 1.0%

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 company has a 50 day moving average of $53.00 and a two-hundred day moving average of $52.56. The stock has a market cap of $411.39 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 0.95 and a beta of 1.18.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) 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 the consensus estimate of $29.72 billion. During the same quarter in the prior year, the business posted $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 anticipate that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid 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 yield of 1.9%. Bank of America’s dividend payout ratio (DPR) is currently 27.72%.

Insiders Place Their Bets

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the completion of the transaction, the insider directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Bank of America

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Bank of America during the fourth quarter valued at approximately $4,774,210,000. Capital International Investors purchased a new stake in shares of Bank of America during the fourth quarter worth approximately $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Bank of America by 640.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock worth $2,399,798,000 after purchasing an additional 40,235,201 shares in the last quarter. Vanguard Group Inc. raised its stake 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 purchasing an additional 23,351,183 shares during the last quarter. Finally, Cardano Risk Management B.V. lifted its holdings in Bank of America by 914.5% in the 4th quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider’s stock valued at $1,380,239,000 after purchasing an additional 22,621,546 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

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.