Q3 EPS Estimates for Bank of America Cut by Seaport Res Ptn

Key Points

• Seaport Res Ptn has revised down its Q3 2026 earnings estimates for Bank of America, anticipating earnings of $1.17 per share, down from $1.18.
• Despite the earnings revision, several analysts are increasing their price targets, with Wolfe Research raising their target from $57 to $58 and Morgan Stanley from $66 to $67.
• Bank of America recently reported a quarterly earnings of $1.06 per share, exceeding analysts' expectations and achieving a revenue of $28.09 billion, up by 10.8% compared to the previous year.

Bank of America Corporation (NYSE:BAC - Free Report) - Analysts at Seaport Res Ptn lowered their Q3 2026 earnings estimates for shares of Bank of America in a research report issued to clients and investors on Monday, October 20th. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will earn $1.17 per share for the quarter, down from their previous forecast of $1.18. The consensus estimate for Bank of America's current full-year earnings is $3.70 per share.

A number of other research firms have also recently weighed in on BAC. Wolfe Research upped their price target on Bank of America from $57.00 to $58.00 and gave the stock an "outperform" rating in a report on Tuesday, October 7th. Truist Financial upped their price target on Bank of America from $51.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Wall Street Zen raised shares of Bank of America from a "sell" rating to a "hold" rating in a research note on Sunday. Morgan Stanley raised their price target on shares of Bank of America from $66.00 to $67.00 and gave the company an "overweight" rating in a research note on Thursday, October 16th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $58.00 price target (up from $57.00) on shares of Bank of America in a research note on Thursday, October 16th. Twenty-one research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Bank of America presently has an average rating of "Moderate Buy" and an average target price of $57.23.

Bank of America Stock Performance

NYSE BAC opened at $51.52 on Wednesday. The stock has a market capitalization of $381.58 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.98 and a beta of 1.33. Bank of America has a twelve month low of $33.06 and a twelve month high of $52.88. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average of $50.31 and a 200 day moving average of $46.04.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.13. The company had revenue of $28.09 billion during the quarter, compared to analysts' expectations of $27.05 billion. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.Bank of America's quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 EPS.

Institutional Trading of Bank of America

Hedge funds have recently bought and sold shares of the business. Boston Common Asset Management LLC raised its holdings in Bank of America by 10.5% in the 2nd quarter. Boston Common Asset Management LLC now owns 259,680 shares of the financial services provider's stock valued at $12,288,000 after acquiring an additional 24,740 shares during the last quarter. Disciplined Investments LLC acquired a new stake in Bank of America in the 2nd quarter valued at about $217,000. Nicholas Hoffman & Company LLC. increased its holdings in shares of Bank of America by 121.0% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 62,041 shares of the financial services provider's stock worth $2,589,000 after buying an additional 33,963 shares during the last quarter. Sunbeam Capital Management LLC increased its holdings in shares of Bank of America by 7.3% during the 2nd quarter. Sunbeam Capital Management LLC now owns 6,476 shares of the financial services provider's stock worth $306,000 after buying an additional 439 shares during the last quarter. Finally, CCG Wealth Management LLC acquired a new stake in shares of Bank of America during the 2nd quarter worth approximately $287,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Insider Buying and Selling

In other Bank of America news, insider James P. Demare sold 148,391 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $45.57, for a total value of $6,762,177.87. Following the completion of the sale, the insider owned 223,407 shares in the company, valued at approximately $10,180,656.99. This represents a 39.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company's stock.

Bank of America announced that its Board of Directors has initiated a share buyback program on Wednesday, July 23rd that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 11.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Bank of America Company Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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