Erste Group Bank Estimates Bank of America FY2026 Earnings

Key Points

• Erste Group Bank slightly raised its FY2026 EPS estimate for Bank of America to $4.47 from $4.46, while keeping a Hold rating. The new estimate is essentially in line with the broader consensus of $4.48 per share.
• Bank of America has recently seen a wave of positive analyst action, including higher price targets from Jefferies, Morgan Stanley, Piper Sandler, JPMorgan, and Argus. Overall, the stock carries a Moderate Buy consensus with an average target price of $61.60.
• The company also posted solid quarterly results, beating earnings and revenue expectations, and it paid a $0.28 quarterly dividend for a 2.0% yield. Its shares recently traded near $56.97, close to the 12-month high of $59.19.

Bank of America Corporation (NYSE:BAC - Free Report) - Stock analysts at Erste Group Bank lifted their FY2026 earnings per share estimates for shares of Bank of America in a research report issued on Thursday, June 25th. Erste Group Bank analyst H. Engel now forecasts that the financial services provider will post earnings per share of $4.47 for the year, up from their prior forecast of $4.46. Erste Group Bank currently has a "Hold" rating on the stock. The consensus estimate for Bank of America's current full-year earnings is $4.48 per share.

BAC has been the topic of several other reports. Jefferies Financial Group boosted their target price 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. Morgan Stanley raised their price target on shares of Bank of America from $61.00 to $67.00 and gave the stock an "overweight" rating in a report on Monday. Piper Sandler lifted their price target on shares of Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. lowered their price objective on Bank of America from $61.50 to $57.50 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Finally, Argus upped their price target on Bank of America from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $61.60.

Bank of America Price Performance

Bank of America stock opened at $56.97 on Wednesday. Bank of America has a 12-month low of $44.75 and a 12-month high of $59.19. The stock has a market cap of $404.31 billion, a P/E ratio of 14.10, a PEG ratio of 0.97 and a beta of 1.18. The company has a 50-day moving average price of $53.51 and a 200 day moving average price of $52.73. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $30.27 billion for the quarter, compared to analysts' expectations of $29.72 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The company's revenue was up 10.7% compared to the same quarter last year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, June 5th. Bank of America's dividend payout ratio (DPR) is 27.72%.

Insider Transactions at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the transaction, the insider directly 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bank of America

Hedge funds have recently bought and sold shares of the company. Handelsbanken Fonder AB grew its holdings in shares of Bank of America by 53.0% during the fourth quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider's stock worth $254,625,000 after purchasing an additional 1,603,080 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of Bank of America by 11.2% in the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 677,919 shares of the financial services provider's stock valued at $34,974,000 after purchasing an additional 68,093 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Bank of America by 3.4% in the 4th quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider's stock valued at $2,497,655,000 after purchasing an additional 1,487,809 shares during the last quarter. Certuity LLC boosted its position in shares of Bank of America by 5.1% in the 3rd quarter. Certuity LLC now owns 523,113 shares of the financial services provider's stock valued at $26,987,000 after purchasing an additional 25,268 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Bank of America by 2.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,905,348 shares of the financial services provider's stock valued at $159,794,000 after purchasing an additional 71,307 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America News Summary

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 kept an Overweight rating, reinforcing a bullish Wall Street view of BAC’s earnings power and valuation upside. Morgan Stanley raises price target on Bank of America
• Positive Sentiment: Separate coverage continued to point to Bank of America as a long-term holding and highlighted favorable positioning versus other megabanks, which can support investor sentiment around the stock. Bank Of America Corp (BAC) Is A Long Time Berkshire Hathaway Holding
• Positive Sentiment: Bank of America also received coverage tied to a constructive view on markets and chip-sector demand, signaling that its research franchise is still producing influential calls that can bolster the company’s market profile. Bank of America Details How ‘Micron/Anthropic Partnership’ Locks In ‘Greater Confidence in 2-3-Year Supply/Demand/Pricing Visibility’

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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