Bank of America (BAC) Stock Forecast, Price & News

17 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Bank of America in the last year. There are currently 2 sell ratings, 6 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" BAC shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in BAC, but not buy additional shares or sell existing shares.
View BAC analyst ratings or view top-rated stocks.

17 Wall Street analysts have issued 12 month price objectives for Bank of America's shares. Their BAC share price forecasts range from $27.50 to $49.00. On average, they predict the company's share price to reach $35.98 in the next twelve months. This suggests a possible upside of 30.2% from the stock's current price.
View analysts price targets for BAC or view top-rated stocks among Wall Street analysts.

Bank of America's stock was trading at $33.12 at the start of the year. Since then, BAC stock has decreased by 16.5% and is now trading at $27.64.
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Bank of America saw a drop in short interest in August. As of August 15th, there was short interest totaling 53,270,000 shares, a drop of 25.9% from the July 31st total of 71,880,000 shares. Based on an average trading volume of 44,420,000 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.7% of the company's stock are sold short.
View Bank of America's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, October 17th 2023.
View our BAC earnings forecast.

Bank of America will be holding an earnings conference call on Tuesday, October 17th at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link.

Bank of America Co. (NYSE:BAC) released its quarterly earnings data on Tuesday, July, 18th. The financial services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.04. The financial services provider had revenue of $25.20 billion for the quarter, compared to analyst estimates of $24.98 billion. Bank of America had a trailing twelve-month return on equity of 12.01% and a net margin of 19.97%. Bank of America's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the business posted $0.73 earnings per share.
Read the conference call transcript.

Bank of America declared a quarterly dividend on Wednesday, July 19th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.24 per share on Friday, September 29th. This represents a $0.96 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Thursday, August 31st. This is an increase from the stock's previous quarterly dividend of $0.22.
Read our dividend analysis for BAC.

ETFs with the largest weight of Bank of America (NYSE:BAC) stock in their portfolio include First Trust Nasdaq Bank ETF (FTXO), Invesco KBW Bank ETF (KBWB), iShares U.S. Financial Services ETF (IYG), Invesco S&P 500 Enhanced Value ETF (SPVU), iShares U.S. Financials ETF (IYF), Financial Select Sector SPDR Fund (XLF), Fidelity MSCI Financials Index ETF (FNCL) and iMGP Berkshire Dividend Growth ETF (BDVG).

Bank of America (NYSE:BAC) pays an annual dividend of $0.96 per share and currently has a dividend yield of 3.36%. The company has been increasing its dividend for 3 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 27.59%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BAC will have a dividend payout ratio of 29.72% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for BAC.

10,089 employees have rated Bank of America Chief Executive Officer Brian T. Moynihan on Glassdoor.com. Brian T. Moynihan has an approval rating of 92% among the company's employees. This puts Brian T. Moynihan in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Bank of America investors own include JPMorgan Chase & Co. (JPM), AT&T (T), Micron Technology (MU), General Electric (GE), Intel (INTC), Citigroup (C), Alibaba Group (BABA), NVIDIA (NVDA), Walt Disney (DIS) and Wells Fargo & Company (WFC).

Bank of America trades on the New York Stock Exchange (NYSE) under the ticker symbol "BAC."

Bank of America's stock is owned by a variety of retail and institutional investors. Top institutional investors include Geode Capital Management LLC (1.60%), Bank Julius Baer & Co. Ltd Zurich (1.23%), Northern Trust Corp (0.83%), Charles Schwab Investment Management Inc. (0.50%), Dimensional Fund Advisors LP (0.48%) and Parnassus Investments LLC (0.47%). Insiders that own company stock include Andrew M Sieg, Dean C Athanasia, Frank P Bramble, James P Demare, Matthew M Koder, Of America Corp /De/ Bank and Thong M Nguyen.
View institutional ownership trends.

Shares of BAC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of BAC stock can currently be purchased for approximately $27.64.

Bank of America (NYSE:BAC) has a market capitalization of $219.64 billion and generates $115.05 billion in revenue each year. The financial services provider earns $27.53 billion in net income (profit) each year or $3.48 on an earnings per share basis.

The company employs 217,000 workers across the globe.

Bank of America's mailing address is 100 N. TRYON STREET, CHARLOTTE NC, 28255. The official website for the company is www.bankofamerica.com. The financial services provider can be reached via phone at (704) 386-5681, via email at i_r@bankofamerica.com, or via fax at 704-386-8009.