Bank of America (NYSE:BAC) had its price target upped by Keefe, Bruyette & Woods from $63.00 to $64.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 17.84% from the stock's current price.
Other analysts have also recently issued research reports about the company. The Goldman Sachs Group increased their target price on Bank of America from $57.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, April 6th. Jefferies Financial Group assumed coverage on Bank of America in a report on Thursday, March 26th. They set a "buy" rating and a $60.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on Bank of America from $61.50 to $57.50 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Autonomous Res reduced their target price on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Finally, Oppenheimer reduced their target price on shares of Bank of America from $63.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, March 27th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $59.65.
View Our Latest Stock Report on BAC
Bank of America Stock Performance
NYSE BAC opened at $54.31 on Thursday. The firm has a market cap of $388.08 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.93 and a beta of 1.23. The company has a 50 day moving average of $50.53 and a 200-day moving average of $52.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America has a 1-year low of $36.49 and a 1-year high of $57.55.
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 company had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The company's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. On average, equities analysts forecast that Bank of America will post 3.7 earnings per share for the current fiscal year.
Insider Transactions at Bank of America
In other news, insider James P. Demare sold 83,832 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total value of $4,191,600.00. Following the transaction, the insider directly owned 307,240 shares in the company, valued at $15,362,000. This trade represents a 21.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the completion of the sale, the insider owned 170,184 shares in the company, valued at $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 227,832 shares of company stock worth $11,094,960 in the last three months. Insiders own 0.27% of the company's stock.
Institutional Trading of Bank of America
Hedge funds have recently modified their holdings of the company. Permanent Capital Management LP acquired a new stake in Bank of America in the 3rd quarter valued at approximately $649,000. Meridian Wealth Management LLC grew its position in Bank of America by 54.6% in the third quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider's stock valued at $3,008,000 after purchasing an additional 20,591 shares in the last quarter. Lockheed Martin Investment Management Co. grew its position in Bank of America by 15.9% in the third quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider's stock valued at $32,482,000 after purchasing an additional 86,290 shares in the last quarter. World Equity Group Inc. grew its position in Bank of America by 21.8% in the third quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider's stock valued at $3,779,000 after purchasing an additional 13,119 shares in the last quarter. Finally, AdvisorShares Investments LLC bought a new position in Bank of America in the third quarter valued at $482,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.
Key Bank of America News
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Q1 beat on top and bottom lines: EPS $1.11 vs. ~$1.00 expected; revenue ~$30.3B beat estimates. Net income and EPS rose year-over-year, supporting the near-term earnings outlook. Read More.
- Positive Sentiment: Trading and wealth businesses powered the quarter — equities revenue jumped sharply and wealth/AUM flows were strong (helping fee income and recurring revenue). Those businesses offset some pressure in fixed-income and boosted overall profits. Read More.
- Positive Sentiment: Capital returns add to shareholder appeal: the company reported sizable buybacks/dividend deployment, which supports EPS and investor sentiment. Read More.
- Neutral Sentiment: Analysts note BAC trades at a discount to large-bank peers and argue the valuation gap could close if earnings momentum continues — a potential re-rating catalyst but not guaranteed. Read More.
- Neutral Sentiment: Management tone from the earnings call emphasized “strong momentum” and resilient consumer spending, which reassures investors but leaves exposure to macro swings. Read More.
- Negative Sentiment: Risks remain: fixed‑income trading underperformed relative to equities, and the bank cautioned about evolving macro/geopolitical risks that could pressure future revenue or credit. Read More.
- Negative Sentiment: Investor sentiment has cooled in surveys (BofA survey showing lowered growth expectations), which could weigh on risk appetite and future fee volumes if conditions deteriorate. Read More.
About Bank of America
(
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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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