Bank of America (NYSE:BAC) Trading Down 1.9% - Here's Why

Key Points

• Bank of America shares fell 1.9% to $61.94 in Thursday trading, with volume below its average.
• Wall Street remains generally positive, with 21 Buy ratings and six Holds producing a “Moderate Buy” consensus and a $64.08 average price target.
• The bank recently exceeded quarterly earnings and revenue estimates, while raising its quarterly dividend to $0.32 per share, equivalent to a 2.1% annual yield.

Bank of America Corporation (NYSE:BAC)'s stock price traded down 1.9% during trading on Thursday . The company traded as low as $61.81 and last traded at $61.94. Approximately 34,105,978 shares were traded during trading, a decline of 9% from the average daily volume of 37,386,266 shares. The stock had previously closed at $63.17.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America and PNC tied for first place in Keynova Group’s 2026 Mortgage-Home Equity Scorecard, underscoring BAC’s competitive digital lending experience and potential to strengthen customer relationships. Home Lenders Enhance Digital Impact with Accelerated Closing and Funding, Relationship Value-Adds and Visual Consumer-Education Content
• Positive Sentiment: BAC appointed new Asia-Pacific industrials investment-banking leaders, including Yuta Komori as regional chair and Meng Gao and Masashi Toda as co-heads. The move could support growth in an important corporate and investment-banking market. Bank of America names new Asia Pacific industrials banking leadership team
• Positive Sentiment: Bank of America’s research remains influential across markets, including bullish views on Nvidia, software stocks and copper miners. This supports the visibility of its research and investment-banking franchise, although it does not directly improve BAC’s earnings. Bank of America Thinks Nvidia Stock Could Go 50% Higher

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Evercore set a $63.00 price target on Bank of America and gave the stock an "outperform" rating in a research report on Monday, July 6th. Morgan Stanley lifted their price objective on Bank of America from $61.00 to $67.00 and gave the company an "overweight" rating in a report on Monday, June 29th. JPMorgan Chase & Co. increased their target price on Bank of America from $62.50 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Argus set a $70.00 price target on Bank of America in a research report on Wednesday, July 15th. Finally, Robert W. Baird boosted their price target on Bank of America from $58.00 to $62.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Bank of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.08.

Bank of America Stock Performance

The stock has a fifty day simple moving average of $60.35 and a two-hundred day simple moving average of $54.56. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $433.13 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 1.03 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $30.78 billion. During the same period in the prior year, the company earned $0.89 EPS. Bank of America's revenue for the quarter was up 19.6% on a year-over-year basis. Analysts expect that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. This is a positive change from Bank of America's previous quarterly dividend of $0.28. Bank of America's dividend payout ratio is currently 29.36%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BAC. Turim 21 Investimentos Ltda. acquired a new stake in shares of Bank of America during the second quarter valued at about $25,000. Abound Financial LLC bought a new stake in shares of Bank of America in the 4th quarter valued at about $26,000. Wiser Advisor Group LLC acquired a new stake in shares of Bank of America in the third quarter valued at about $27,000. CrossGen Wealth LLC acquired a new position in shares of Bank of America in the fourth quarter worth approximately $30,000. Finally, Joseph Group Capital Management bought a new stake in Bank of America in the fourth quarter valued at approximately $32,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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