Bank of America (NYSE:BAC) Stock Price Up 1.5% - Still a Buy?

Key Points

• Bank of America shares rose 1.5% on Friday, trading near $56 after a recent pullback in volume, with the stock still well above its 50-day and 200-day moving averages.
• Recent fundamentals look solid: the bank beat Q1 earnings expectations, grew revenue 10.7% year over year, and analysts continue to lean positive with a consensus rating of Moderate Buy and a target around $61.
• Shareholder returns remain steady as BAC declared a quarterly dividend of $0.28 per share, while a recent insider sale and a DOJ subpoena report add some cautionary overhang.

Bank of America Corporation (NYSE:BAC) rose 1.5% on Friday . The company traded as high as $56.19 and last traded at $55.9630. Approximately 29,913,733 shares traded hands during trading, a decline of 24% from the average daily volume of 39,343,758 shares. The stock had previously closed at $55.16.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Analysts and commentary highlighted BAC’s strong Q1 results, robust deposit base, and improving revenue prospects in markets and wealth management, supporting the case for continued momentum. Bank Of America (BAC) Stock Valuation After Strong Q1 Results And Upgraded Markets Revenue Outlook
• Positive Sentiment: Bank of America announced regular preferred-stock dividend declarations, reinforcing its capital-return profile and signaling balance-sheet stability. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Positive Sentiment: One report noted that Erste Group raised its FY2027 EPS estimate for BAC, suggesting some analysts see earnings power improving over time. Bank of America Corporation
• Neutral Sentiment: BofA’s own market commentary warned investors that optimism is elevated and that an AI-driven bubble may be vulnerable, but these views are more about the broader market than BAC’s fundamentals. Bank of America Sends a Stark Warning on the S&P 500
• Negative Sentiment: A DOJ subpoena report tied BAC to a sweeping bank industry probe into customer account closures, which could create legal, regulatory, and reputational overhang. JPMorgan, Bank of America receive subpoena from DOJ
• Negative Sentiment: Another article argued BAC has been going sideways and lagging the S&P 500 over the past six months, which may temper enthusiasm despite recent gains. 3 Reasons to Sell BAC and 1 Stock to Buy Instead

Analyst Ratings Changes

BAC has been the subject of several research analyst reports. Autonomous Res decreased their target price on Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, April 6th. Truist Financial raised their price target on Bank of America from $57.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Jefferies Financial Group upped their price objective on shares of Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Daiwa Securities Group increased their price objective on shares of Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Finally, Oppenheimer raised their target price on shares of Bank of America from $58.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Twenty-two equities research 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.06.

Bank of America Stock Performance

The company has a fifty day moving average of $52.16 and a two-hundred day moving average of $52.39. The firm has a market capitalization of $397.15 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 0.92 and a beta of 1.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.11. The firm had revenue of $30.27 billion for the quarter, compared to analysts' expectations of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.90 EPS. As a group, equities research analysts predict that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a yield of 2.0%. Bank of America's payout ratio is currently 27.72%.

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the sale, the insider directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Bank of America

A number of hedge funds have recently added to or reduced their stakes in BAC. Abound Financial LLC bought a new position in shares of Bank of America in the fourth quarter worth $26,000. Wiser Advisor Group LLC bought a new stake in Bank of America during the third quarter worth about $27,000. Legacy Bridge LLC lifted its position in Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after purchasing an additional 330 shares during the period. CrossGen Wealth LLC acquired a new stake in Bank of America during the fourth quarter worth about $30,000. Finally, Joseph Group Capital Management acquired a new stake in Bank of America during the fourth quarter worth about $32,000. Institutional investors own 70.71% of the company's stock.

About Bank of America

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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