Bank of America (NYSE:BAC) Trading Up 3.2% - Time to Buy?

Key Points

• Bank of America shares rose 3.2% on Thursday, trading as high as $54.33 on heavier-than-average volume, reflecting positive near-term momentum in the stock.
• The biggest catalyst was a new cross-border real-time payments tool slated for launch in the third quarter, which could improve speed and cost efficiency for corporate and institutional clients.
• Analyst sentiment remains upbeat: 22 analysts rate BAC a Buy, with a consensus price target of $61.06, while recent reports from RBC, Daiwa, KBW, and Goldman Sachs all raised or reaffirmed constructive ratings and targets.

Bank of America Corporation (NYSE:BAC)'s stock price was up 3.2% during mid-day trading on Thursday . The company traded as high as $54.33 and last traded at $54.0570. Approximately 50,876,779 shares were traded during mid-day trading, an increase of 28% from the average daily volume of 39,673,023 shares. The stock had previously closed at $52.40.

Bank of America News Summary

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

• Positive Sentiment: Bank of America plans to launch a new cross-border real-time payments tool in the third quarter, which could deepen relationships with corporate and institutional clients while improving payment speed, tracking, and cost efficiency. Bank of America to Launch Cross-Border Real-Time Payments, Expanding Global Payment Choice
• Positive Sentiment: Analyst sentiment remains constructive, with reports noting that 84% of the 25 analysts covering BAC rate it a Buy and that the average price target implies more than 20% upside. Here’s Why Bank of America Corporation (BAC) is Among the Best Low Cost Stocks
• Positive Sentiment: Bank of America’s wealth-management arm, Merrill, was recognized across three 2026 Barron’s rankings, reinforcing the franchise’s strength in private wealth and advisory services. Merrill Advisors and Teams Earn Recognition Across Three 2026 Barron’s Lists
• Neutral Sentiment: Financial stocks were broadly higher in Thursday afternoon trading, providing a favorable sector tailwind for BAC. Sector Update: Financial Stocks Rise Thursday Afternoon
• Neutral Sentiment: Reuters reported that Bank of America is participating in flashy events tied to the upcoming SpaceX IPO, which highlights dealmaking activity but does not yet indicate a direct financial impact. Wall Street banks and CEOs promote SpaceX in flashy events with BofA, Morgan Stanley, JPM events planned
• Negative Sentiment: Jim Cramer’s remarks on BAC were cautious, saying there may be “something that’s not that great happening there,” which could temper sentiment around the stock. Jim Cramer on Bank of America: “There’s Something That’s Not That Great Happening There”

Analysts Set New Price Targets

A number of research analysts have issued reports on BAC shares. Royal Bank Of Canada restated an "outperform" rating and issued a $59.00 price objective on shares of Bank of America in a research note on Thursday, April 16th. Daiwa Securities Group upped their price objective on Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Keefe, Bruyette & Woods upped their price objective on Bank of America from $63.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a research note on Friday, April 24th. Finally, The Goldman Sachs Group upped their price objective on Bank of America from $58.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on 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 Price Performance

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 business has a 50-day moving average price of $51.40 and a 200 day moving average price of $52.28. The stock has a market cap of $383.62 billion, a PE ratio of 13.38, a PEG ratio of 0.89 and a beta of 1.18.

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 EPS for the quarter, beating analysts' consensus estimates 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 business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. As a group, research analysts forecast that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a dividend of $0.28 per share. 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 2.1%. Bank of America's dividend payout ratio is 27.72%.

Insider Transactions at Bank of America

In related news, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction dated 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 sale, the insider owned 170,184 shares of the company's stock, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Geoffrey S. Greener sold 126,756 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the transaction, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Bank of America

A number of institutional investors have recently added to or reduced their stakes in the business. DecisionMap Wealth Management LLC grew its holdings in shares of Bank of America by 4.7% during the fourth quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider's stock worth $223,000 after purchasing an additional 182 shares during the last quarter. Money Concepts Capital Corp grew its holdings in shares of Bank of America by 3.8% during the fourth quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock worth $273,000 after purchasing an additional 182 shares during the last quarter. Holistic Financial Partners grew its holdings in shares of Bank of America by 2.4% during the fourth quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock worth $434,000 after purchasing an additional 183 shares during the last quarter. Operose Advisors LLC grew its holdings in shares of Bank of America by 0.9% during the fourth quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock worth $1,123,000 after purchasing an additional 185 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. grew its holdings in shares of Bank of America by 1.0% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider's stock worth $1,092,000 after purchasing an additional 187 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

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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