Brokerages Set Bank of America Corporation (NYSE:BAC) Price Target at $64.08

Shares of Bank of America Corporation (NYSE:BAC) have been given a consensus rating of “Moderate Buy” by the twenty-seven analysts that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and twenty-one have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $64.0833.

Several equities research analysts have commented on BAC shares. Citigroup boosted their price objective on Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Truist Financial lifted their price target on Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Oppenheimer cut Bank of America from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Morgan Stanley increased their price objective on Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Finally, Royal Bank Of Canada raised their price objective on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America joined 20 financial institutions forming a company that plans to issue a U.S.-dollar stablecoin in 2027. The initiative could strengthen BAC’s position in digital payments and blockchain-based financial services, although any revenue benefit is longer term. Bank of America (BAC), What Is Behind The Fresh Attention?
• Positive Sentiment: Unusual options activity showed investors purchasing 362,697 BAC call options, 172% above average daily volume. The activity signals heightened bullish speculation, though options positioning can increase volatility and does not guarantee fundamental upside.
• Positive Sentiment: Brokerage coverage continues to lean favorable, with analysts assigning BAC a consensus “Moderate Buy” rating. The constructive view supports the stock’s recent momentum. Bank of America Corporation Given Consensus Recommendation of Moderate Buy
• Neutral Sentiment: BAC announced plans to redeem $2 billion of U.S.-dollar senior notes and CAD1.425 billion of Canadian-dollar senior notes on September 15. The transactions represent routine liability management and may improve funding efficiency, but they are not expected to materially change near-term earnings. Bank of America Announces U.S. Note Redemptions
• Negative Sentiment: A technical-market warning noted that Wall Street positioning in BAC and broader equities has reached an extreme. That raises the risk of profit-taking or a pullback despite the bank’s recent outperformance. Bank of America’s New Warning Should Concern Stock Investors

Bank of America Stock Performance

BAC opened at $62.64 on Thursday. The firm’s fifty day simple moving average is $61.64 and its two-hundred day simple moving average is $55.21. Bank of America has a 52-week low of $46.12 and a 52-week high of $65.22. The company has a market cap of $438.03 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.00 and a beta of 1.15. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The business had revenue of $31.56 billion during the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 earnings per share. Equities analysts anticipate that Bank of America will post 4.68 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.32 dividend. This is an increase from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 4th. Bank of America’s payout ratio is 25.69%.

Hedge Funds Weigh In On Bank of America

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Turim 21 Investimentos Ltda. acquired a new position in shares of Bank of America during the 2nd quarter worth approximately $25,000. Abound Financial LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at approximately $26,000. Wiser Advisor Group LLC purchased a new position in Bank of America during the third quarter worth approximately $27,000. Principia Wealth Advisory LLC lifted its position in Bank of America by 69.9% during the second quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock worth $30,000 after buying an additional 218 shares in the last quarter. Finally, CrossGen Wealth LLC acquired a new position in Bank of America during the fourth quarter worth $30,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

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.