Bank of America (NYSE:BAC) Trading Down 1.6% - Here's What Happened

Key Points

• Bank of America shares fell 1.6% on Tuesday, trading as low as $56.84 before ending near $56.97, with volume below its recent average.
• Analyst sentiment remains mostly positive, with several firms raising price targets and the consensus rating still at “Moderate Buy” with a $61.60 target.
• Investors are watching both earnings and regulatory headlines: the company will report second-quarter 2026 results on July 14, while the SEC recently fined Merrill Lynch $7.5 million over suspicious activity reporting failures.

Bank of America Corporation (NYSE:BAC)'s share price traded down 1.6% during trading on Tuesday . The company traded as low as $56.84 and last traded at $56.9730. Approximately 34,664,783 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 39,273,090 shares. The stock had previously closed at $57.88.

More Bank of America News

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

• Positive Sentiment: Morgan Stanley raised its price target on Bank of America to $67 from $61 and maintained an Overweight rating, signaling confidence in the bank’s upside potential. Benzinga article
• Positive Sentiment: Bank of America analysts also issued upbeat research on sectors like semiconductors, which can reflect positively on the firm’s market-research influence and broader investment-banking outlook. TipRanks article
• Neutral Sentiment: Bank of America confirmed it will report second-quarter 2026 results on July 14, which keeps investor attention focused on upcoming earnings and management commentary. PR Newswire article
• Neutral Sentiment: The company was mentioned in articles highlighting BAC as a long-term Berkshire Hathaway holding and a dividend stock to own forever, which reinforces its reputation as a stable large-cap financial name. Yahoo Finance article
• Negative Sentiment: The SEC fined Bank of America’s Merrill Lynch unit $7.5 million for failures in suspicious activity reporting, adding a modest but real regulatory overhang. Quiver Quant article
• Negative Sentiment: Separate reporting on the SEC settlement and compliance shortcomings could weigh on sentiment by reminding investors of ongoing oversight risk at the wealth-management unit. Yahoo Finance article

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Autonomous Res decreased their price target on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Monday, April 6th. Argus boosted their price objective on Bank of America from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. The Goldman Sachs Group increased their price objective on Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Oppenheimer cut Bank of America from an "outperform" rating to a "market perform" rating in a research note on Tuesday. Finally, Truist Financial lifted their target price on Bank of America from $61.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $61.60.

Bank of America Stock Down 1.6%

The stock's fifty day simple moving average is $53.45 and its 200-day simple moving average is $52.71. The stock has a market cap of $404.31 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.98 and a beta of 1.19. 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 issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 earnings per share. As a group, research analysts forecast that Bank of America Corporation will post 4.47 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

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

Insider Buying and Selling at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares of the company's stock, 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 SEC, which can be accessed through the SEC website. Insiders own 0.27% of the company's stock.

Institutional Trading of Bank of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock worth $4,785,000 after acquiring an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Bank of America by 40.5% during the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider's stock worth $1,013,000 after purchasing an additional 6,174 shares during the period. Jump Financial LLC increased its holdings in Bank of America by 38.4% in the second quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider's stock worth $3,108,000 after purchasing an additional 18,227 shares in the last quarter. Nebula Research & Development LLC acquired a new position in Bank of America in the second quarter valued at approximately $1,396,000. Finally, Vivaldi Capital Management LP boosted its holdings in shares of Bank of America by 4.2% during the 2nd quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider's stock worth $417,000 after buying an additional 355 shares in the last quarter. Institutional investors and hedge funds 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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