JPMorgan Chase & Co. Has Lowered Expectations for Bank of America (NYSE:BAC) Stock Price

Key Points

• JPMorgan lowered Bank of America’s price target from $62.00 to $59.50 but maintained an “overweight” rating, implying about 18.9% upside from the prior close.
• Several other analysts also reduced their targets, though sentiment remains positive: MarketBeat reports a consensus “Moderate Buy” rating and an average target price of $62.70.
• Bank of America shares recently traded near $50, while the company’s latest quarterly earnings and revenue came in slightly below analyst expectations. Institutional investors own approximately 70.7% of the stock.

Bank of America (NYSE:BAC - Get Free Report) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $62.00 to $59.50 in a report released on Friday, Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 18.93% from the company's previous close.

Other analysts also recently issued reports about the stock. Truist Financial cut their price objective on shares of Bank of America from $62.00 to $58.00 and set a "buy" rating on the stock in a research report on Thursday, October 15th. Wells Fargo & Company decreased their target price on shares of Bank of America from $69.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, October 15th. Morgan Stanley dropped their price target on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, October 15th. HSBC assumed coverage on Bank of America in a report on Monday, September 28th. They set a "buy" rating and a $65.00 price target on the stock. Finally, Argus set a $70.00 price objective on Bank of America in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Bank of America currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.70.

Bank of America Stock Performance

Shares of Bank of America stock traded down $1.11 on Friday, reaching $50.03. 42,446,899 shares of the company were exchanged, compared to its average volume of 37,617,648. The firm has a market cap of $349.85 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 0.89 and a beta of 1.21. Bank of America has a 1-year low of $46.12 and a 1-year high of $65.22. 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 company's 50-day moving average is $56.44 and its two-hundred day moving average is $54.96.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share 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 analyst estimates of $30.58 billion. Bank of America had a return on equity of 12.15% and a net margin of 16.80%. Bank of America's quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 earnings per share. As a group, research analysts expect that Bank of America will post 4.52 earnings per share for the current fiscal year.

Institutional Trading of Bank of America

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc bought a new position in shares of Bank of America during the 2nd quarter valued at $2,571,060,000. Deutsche Bank AG bought a new stake in Bank of America in the second quarter worth $2,359,172,000. Bank of New York Mellon Corp bought a new stake in Bank of America in the second quarter worth $2,313,953,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Bank of America during the second quarter worth $939,807,000. Finally, Canada Pension Plan Investment Board acquired a new position in Bank of America during the second quarter worth $916,398,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America’s market commentary remains constructive on several growth initiatives. Analysts point to branch expansion and artificial-intelligence investments as potential drivers of deposit growth, stronger customer relationships and improved efficiency. Can BAC's Branch Expansion & AI Push Drive Long-Term Growth?
• Positive Sentiment: Bank of America expanded its physical banking presence by opening new financial centers in Wisconsin, supporting its long-term strategy to deepen retail relationships and gather deposits. Bank of America expands in-person reach with new financial centers in Wisconsin
• Neutral Sentiment: Bank of America’s investment strategists highlighted technology-company bonds as potentially more attractive than tech stocks, reflecting a broader shift toward credit and quality assets. The view may benefit the bank’s investment-banking and fixed-income businesses, but it does not directly change BAC’s earnings outlook. Tech Bonds Are 'Diamonds in the Rough': Bank of America's Hartnett Says
• Negative Sentiment: Senator Elizabeth Warren urged the Justice Department to investigate Bank of America and potentially its executives over alleged anti-money-laundering and sanctions violations. The pressure follows a reported $1.21 billion penalty and raises concerns about additional fines, remediation costs and reputational damage. Warren urges DOJ criminal probe of Bank of America over anti-money-laundering violations
• Negative Sentiment: Multiple law firms promoted a securities-fraud class action covering investors who purchased BAC shares from August 1, 2025, through October 13, 2026. The repeated notices and December 15, 2026 lead-plaintiff deadline reinforce near-term litigation overhang, although the allegations have not been adjudicated. ROSEN securities class action notice
• Negative Sentiment: Bank of America was also sued over its use of mandatory arbitration in employee disputes, adding another legal and compliance concern for investors. Bank of America sued over mandatory arbitration for employee disputes

Bank of America Company Profile

Bank of America Corporation NYSE: BAC is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company's consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.

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