Seaport Res Ptn Comments on Bank of America Q3 Earnings

Key Points

• Seaport Res Ptn has raised its Q3 2026 EPS estimate for Bank of America to $1.18, up from the previous $1.17, while maintaining a consensus estimate of $3.70 for full-year earnings.
• Various analysts have recently issued ratings changes for Bank of America, with Erste Group Bank upgrading it to a "buy" rating and Wells Fargo increasing their price target from $56 to $60.
• Bank of America has initiated a $40 billion stock buyback plan, indicating strong confidence from management in the company's valuation.

Bank of America Corporation (NYSE:BAC - Free Report) - Equities researchers at Seaport Res Ptn raised their Q3 2026 earnings per share (EPS) estimates for Bank of America in a research report issued to clients and investors on Monday, October 6th. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will post earnings of $1.18 per share for the quarter, up from their prior forecast of $1.17. The consensus estimate for Bank of America's current full-year earnings is $3.70 per share. Seaport Res Ptn also issued estimates for Bank of America's Q4 2026 earnings at $1.18 EPS and FY2027 earnings at $5.25 EPS.

Other equities research analysts also recently issued research reports about the company. Erste Group Bank raised Bank of America from a "hold" rating to a "buy" rating in a research report on Friday. Robert W. Baird reissued a "neutral" rating and set a $52.00 price target on shares of Bank of America in a research report on Friday, June 27th. Hsbc Global Res downgraded Bank of America from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Wall Street Zen raised Bank of America from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Wells Fargo & Company upped their target price on Bank of America from $56.00 to $60.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Nineteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $53.38.

Bank of America Price Performance

BAC stock opened at $50.36 on Tuesday. The stock has a 50-day moving average price of $49.42 and a two-hundred day moving average price of $45.35. Bank of America has a 12-month low of $33.06 and a 12-month high of $52.88. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 1.14. The company has a market cap of $373.01 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.03. Bank of America had a return on equity of 10.25% and a net margin of 14.81%.The firm had revenue of ($22,273.00) million during the quarter, compared to the consensus estimate of $26.79 billion. During the same quarter in the previous year, the business earned $0.83 earnings per share. The firm's quarterly revenue was up 4.3% compared to the same quarter last year.

Bank of America announced that its Board of Directors has initiated a stock buyback plan on Wednesday, July 23rd that permits the company to buyback $40.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 11.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Bank of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. This is a positive change from Bank of America's previous quarterly dividend of $0.26. The ex-dividend date was Friday, September 5th. Bank of America's payout ratio is presently 32.75%.

Insider Activity at Bank of America

In related news, insider James P. Demare sold 148,391 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $45.57, for a total value of $6,762,177.87. Following the transaction, the insider owned 223,407 shares in the company, valued at approximately $10,180,656.99. The trade was a 39.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Brighton Jones LLC raised its stake in Bank of America by 30.0% during the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock valued at $4,785,000 after buying an additional 25,143 shares in the last quarter. Park Avenue Securities LLC raised its stake in Bank of America by 12.6% during the first quarter. Park Avenue Securities LLC now owns 175,983 shares of the financial services provider's stock valued at $7,344,000 after buying an additional 19,727 shares in the last quarter. Central Bank & Trust Co. acquired a new stake in Bank of America during the first quarter valued at approximately $223,000. Single Point Partners LLC raised its stake in Bank of America by 306.1% during the first quarter. Single Point Partners LLC now owns 27,631 shares of the financial services provider's stock valued at $1,153,000 after buying an additional 20,827 shares in the last quarter. Finally, AHL Investment Management Inc. raised its stake in Bank of America by 5.4% during the first quarter. AHL Investment Management Inc. now owns 5,953 shares of the financial services provider's stock valued at $248,000 after buying an additional 303 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

About Bank of America

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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