Bank of America (NYSE:BAC) Shares Up 2.3% – Time to Buy?

Shares of Bank of America Corporation (NYSE:BAC) rose 2.3% on Monday. The company traded as high as $51.01 and last traded at $50.5710. 29,131,480 shares changed hands during trading, a decline of 23% from the average daily volume of 37,842,867 shares. The stock had previously closed at $49.42.

Trending Headlines about Bank of America

Investors following BAC have been watching these headlines:

• Positive Sentiment: A comparison of BAC and Wells Fargo says Bank of America has an edge on earnings growth and valuation, although Wells Fargo has stronger share-price performance and return on equity. Article: BAC vs. WFC: Which Banking Giant Offers Better Upside Potential?
• Neutral Sentiment: Bank of America’s view that inflation could leave the Federal Reserve open to a larger December rate hike may affect the broader banking outlook. Higher rates can have mixed effects for banks, influencing both interest income and borrowing conditions. Article: Fed May Be Falling Behind on Inflation, Bank of America Says
• Negative Sentiment: Several law firms are publicizing a securities class action on behalf of investors who bought BAC shares between August 1, 2025, and October 13, 2026. The notices cite a December 15, 2026 lead-plaintiff deadline; the allegations have not been established in court. Repeated litigation headlines could weigh on sentiment, though they do not by themselves indicate the case’s outcome. Article: Rosen Law Firm shareholder alert

Analysts Set New Price Targets

Several brokerages have recently weighed in on BAC. Jefferies Financial Group decreased their price target on Bank of America from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. HSBC assumed coverage on shares of Bank of America in a report on Monday, September 28th. They set a “buy” rating and a $65.00 price target for the company. Phillip Securities upgraded shares of Bank of America to a “strong-buy” rating in a research report on Friday, October 16th. Keefe, Bruyette & Woods decreased their price objective on shares of Bank of America from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Bank of America from $62.00 to $59.50 and set an “overweight” rating for the company in a research note on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.48.

Bank of America Trading Down 0.0%

The stock has a fifty day simple moving average of $54.78 and a 200 day simple moving average of $54.87. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $349.61 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 0.89 and a beta of 1.19.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.02). The company had revenue of $29.96 billion during the quarter, compared to analysts’ expectations of $30.58 billion. Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.06 earnings per share. On average, research analysts expect that Bank of America Corporation will post 4.51 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Friday, December 4th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, December 4th. Bank of America’s dividend payout ratio is currently 30.40%.

Institutional Trading of Bank of America

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fisher Asset Management LLC grew its holdings in Bank of America by 2.3% during the third quarter. Fisher Asset Management LLC now owns 60,605,657 shares of the financial services provider’s stock worth $3,298,766,000 after acquiring an additional 1,390,289 shares during the period. Legal & General Group Plc acquired a new stake in Bank of America in the 2nd quarter worth about $2,571,060,000. Amundi raised its stake in Bank of America by 12.5% in the 1st quarter. Amundi now owns 42,385,115 shares of the financial services provider’s stock valued at $2,066,274,000 after purchasing an additional 4,721,969 shares during the last quarter. Deutsche Bank AG acquired a new position in Bank of America during the second quarter worth about $2,359,172,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Bank of America in the second quarter valued at approximately $2,313,953,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

About Bank of America

Bank of America Corporation is a financial services company serving consumers, businesses, institutional investors and government entities. Its offerings include checking and savings accounts, credit and debit cards, mortgages, auto loans and other lending, as well as payment and treasury services. The company also provides investment and wealth management through Merrill and Bank of America Private Bank, and serves corporate and institutional clients with commercial banking, capital markets, trading and advisory services.