Bank of America (NYSE:BAC) Price Target Raised to $63.00

Key Points

• UBS raised its price target on Bank of America to $63.00, implying about a 17.7% upside, and the stock carries a consensus rating of "Moderate Buy" with a mean target of $61.06 (22 Buys, 5 Holds).
• Bank of America beat Q1 expectations, reporting $1.11 EPS vs. $1.00 expected and revenue of $30.27 billion (up 10.7% YoY); the firm trades at a P/E of 13.25 with a market cap of roughly $379.8 billion.
• Insider activity is a headwind: insiders sold 227,832 shares (~$11.1M) over the past 90 days, and reports indicate Berkshire's Greg Abel has reduced his BAC holdings for a seventh consecutive quarter.

Bank of America (NYSE:BAC) had its price objective raised by research analysts at UBS Group from $62.00 to $63.00 in a report issued on Wednesday,MarketScreener reports. UBS Group's target price suggests a potential upside of 17.71% from the company's current price.

Several other equities analysts have also recently weighed in on BAC. Keefe, Bruyette & Woods lifted their price objective on Bank of America from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. Royal Bank Of Canada restated an "outperform" rating and issued a $59.00 target price on shares of Bank of America in a research report on Thursday, April 16th. Morgan Stanley cut their price target on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating for the company in a report on Tuesday, March 31st. Robert W. Baird boosted their price target on Bank of America from $56.00 to $58.00 and gave the stock a "neutral" rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group boosted their target price on Bank of America from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.06.

Bank of America Stock Performance

BAC stock traded down $0.08 during trading hours on Wednesday, hitting $53.52. 2,058,273 shares of the stock were exchanged, compared to its average volume of 39,354,512. Bank of America has a 12 month low of $41.25 and a 12 month high of $57.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $379.83 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.90 and a beta of 1.21. The company has a 50-day simple moving average of $50.39 and a two-hundred day simple moving average of $52.50.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. During the same quarter in the previous year, the business posted $0.90 earnings per share. Bank of America's quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts forecast that Bank of America will post 4.46 earnings per share for the current fiscal year.

Insider Transactions at Bank of America

In other Bank of America news, insider James P. Demare sold 83,832 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the sale, the insider owned 307,240 shares of the company's stock, valued at approximately $15,362,000. This represents a 21.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the completion of the transaction, the insider owned 170,184 shares in the company, valued at $7,988,436.96. This trade represents a 35.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 227,832 shares of company stock worth $11,094,960 over the last ninety days. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Bank of America

A number of hedge funds have recently bought and sold shares of the company. Abound Financial LLC bought a new position in shares of Bank of America in the 4th quarter worth about $26,000. Wiser Advisor Group LLC bought a new stake in Bank of America in the third quarter worth approximately $27,000. Legacy Bridge LLC lifted its stake in Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock valued at $28,000 after buying an additional 330 shares during the period. Marquette Asset Management LLC bought a new position in shares of Bank of America during the 3rd quarter worth approximately $30,000. Finally, Collier Financial acquired a new stake in shares of Bank of America during the 3rd quarter worth approximately $30,000. Institutional investors own 70.71% of the company's stock.

More Bank of America News

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

• Positive Sentiment: Zacks included BAC on a “sales growth” buy screen, highlighting investor interest from growth-oriented strategies that could lift demand for the stock. 3 Sales Growth Stocks to Buy Now as Markets Scale New Highs
• Positive Sentiment: Bank of America’s GovCon unit is supporting a strategic manufacturing initiative for defense drone/robotics production — a business development that can deepen corporate banking relationships with high‑margin government contractors. Advanced Manufacturing and Strategic Financing Solutions for Defense Drone and Robotics Production
• Positive Sentiment: Shareholders backed Bank of America’s leadership and governance at the annual meeting — a stability signal that reduces governance risk and supports investor confidence. Bank of America Shareholders Back Leadership and Governance Status Quo
• Neutral Sentiment: Bank of America continues to showcase its institutional franchise (conferences, research calls, corporate partnerships and Merrill advisor rankings), which supports fee revenue but is gradual in its impact on near‑term EPS. Bank of America Convenes Global Leaders in Asia Pacific for its Breakthrough Technology Dialogue
• Neutral Sentiment: Bloomberg reports record hybrid bond issuance as companies tap cheap capital — a favorable funding backdrop for corporate clients but only an indirect/gradual benefit for BAC’s underwriting and corporate banking businesses. Hybrid Bond Sales Reach Record as Companies Pounce on Low Costs
• Neutral Sentiment: Macro pieces — a weaker dollar (Bloomberg) and volatile oil/geo‑political headlines — are driving market moves; these affect banks via rates, trading revenue and loan demand but don’t point to a clear directional impact on BAC today. Dollar Hits Lowest Since War Started on Report End Is Near
• Neutral Sentiment: Rising HELOC/home equity rates (Bankrate data) signal higher lending yields but could also damp consumer originations — a mixed read for net interest income and credit trends. HELOC, home equity rates spike higher
• Negative Sentiment: Notable headwind: Berkshire’s Greg Abel appears to have sold BAC for a 7th consecutive quarter, signaling a continued large shareholder reduction that can weigh on sentiment and shares given Berkshire’s size and influence. Warren Buffett's Successor, Greg Abel, Appears to Have Sold Shares of Bank of America for a 7th Consecutive Quarter

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.

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