Bank of America (NYSE:BAC) Stock Price Target Lowered at Truist Financial

Key Points

• Truist Financial lowered Bank of America’s price target from $65 to $62 but maintained a “buy” rating, implying 13.82% potential upside from the stock’s $54.47 price.
• Analyst sentiment remains favorable overall: 20 analysts rate BAC a buy and six rate it a hold, producing a “Moderate Buy” consensus and an average price target of $64.22.
• Bank of America recently exceeded quarterly expectations, reporting $1.21 in earnings per share and $31.56 billion in revenue, up 19.6% year over year; institutional investors own 70.71% of the stock.

Bank of America (NYSE:BAC) had its price objective lowered by Truist Financial from $65.00 to $62.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Truist Financial's price objective indicates a potential upside of 13.82% from the company's current price.

BAC has been the topic of several other research reports. JPMorgan Chase & Co. increased their price objective on shares of Bank of America from $62.50 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a research note on Tuesday, July 21st. UBS Group upped their target price on Bank of America from $68.00 to $70.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Barclays increased their price target on Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Finally, Oppenheimer downgraded Bank of America from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Twenty equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Bank of America currently has an average rating of "Moderate Buy" and an average price target of $64.22.

Bank of America Stock Down 0.9%

BAC stock opened at $54.47 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. Bank of America has a 1-year low of $46.12 and a 1-year high of $65.22. The firm has a fifty day moving average price of $61.21 and a two-hundred day moving average price of $56.25. The firm has a market cap of $380.91 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.88 and a beta of 1.15.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company had revenue of $31.56 billion for the quarter, compared to analysts' expectations of $30.78 billion. During the same period in the prior year, the company earned $0.89 earnings per share. The firm's revenue was up 19.6% compared to the same quarter last year. Research analysts predict that Bank of America will post 4.66 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cim Investment Management Inc. raised its holdings in Bank of America by 340.7% during the second quarter. Cim Investment Management Inc. now owns 51,780 shares of the financial services provider's stock worth $2,950,000 after purchasing an additional 40,030 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Bank of America by 44.4% during the 2nd quarter. QRG Capital Management Inc. now owns 1,280,833 shares of the financial services provider's stock valued at $72,982,000 after purchasing an additional 393,875 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Bank of America by 89.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 356,717 shares of the financial services provider's stock valued at $20,326,000 after purchasing an additional 168,194 shares in the last quarter. Andra AP fonden increased its position in shares of Bank of America by 34.4% during the 2nd quarter. Andra AP fonden now owns 1,095,383 shares of the financial services provider's stock valued at $62,415,000 after purchasing an additional 280,365 shares during the period. Finally, Silicon Valley Capital Partners raised its stake in shares of Bank of America by 12.9% in the 2nd quarter. Silicon Valley Capital Partners now owns 239,576 shares of the financial services provider's stock worth $14,638,000 after buying an additional 27,283 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America’s Personal Retirement Strategy surpassed $100 billion in assets, while Merrill Managed exceeded $10 billion. The milestones indicate strong adoption of fee-generating, professionally managed retirement products and growing demand for personalized investment advice. Bank of America Personal Retirement Strategy Surpasses $100 Billion
• Positive Sentiment: The Federal Reserve is revamping bank stress tests to reduce volatility in capital requirements and improve planning visibility. A more predictable framework could support BAC’s capital planning, dividend policy and share-repurchase decisions. Fed Revamps Bank Stress Tests
• Positive Sentiment: Management will report third-quarter 2026 results on October 14. The event provides a near-term catalyst, particularly as analysts expect year-over-year earnings growth and investors assess revenue momentum, expenses and investment-banking activity. Bank of America to Report Third Quarter 2026 Financial Results
• Neutral Sentiment: Bank of America highlighted artificial-intelligence and semiconductor opportunities through analyst research and an upcoming technology summit. These efforts may strengthen relationships with technology companies and investors, but they are not expected to materially change near-term bank earnings. Bank of America Technology Innovation Summit
• Negative Sentiment: Merrill Lynch agreed to pay $39 million to settle claims that it paid near-zero interest on customers’ idle retirement-account cash. The settlement is manageable relative to BAC’s scale but adds legal and reputational pressure. Bank of America to Pay $39 Million Settlement
• Negative Sentiment: One valuation analysis argues BAC could be materially overvalued relative to the returns it generates on capital, particularly if substantial spending on AI and technology fails to produce stronger profits. That concern may limit upside after the stock’s multiyear advance. Bank of America Stock Could Be Below Fair Value

About Bank of America

Bank of America Corporation NYSE: BAC is a diversified financial services company serving individual consumers, small businesses, middle-market companies and large corporations. Its principal businesses include consumer banking, wealth and investment management, commercial banking, corporate and investment banking, and sales and trading.

Through its banking and financial services businesses, the company offers deposit accounts, credit cards, mortgages, home equity products, consumer and business loans, payment services, treasury management, brokerage services and investment advice.

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