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

17 Wall Street 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 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 brokerages have issued 1-year target prices for Bank of America's stock. Their BAC share price forecasts range from $27.50 to $48.00. On average, they predict the company's share price to reach $35.92 in the next year. This suggests a possible upside of 31.2% 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 beginning of 2023. Since then, BAC shares have decreased by 17.3% and is now trading at $27.38.
View the best growth stocks for 2023 here.

Bank of America saw a increase in short interest during the month of September. As of September 15th, there was short interest totaling 59,910,000 shares, an increase of 14.6% from the August 31st total of 52,280,000 shares. Based on an average trading volume of 41,290,000 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.8% of the shares of the 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) posted its quarterly earnings results on Tuesday, July, 18th. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.84 by $0.04. The financial services provider earned $25.20 billion during the quarter, compared to the consensus estimate 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%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 earnings per share.
Read the conference call transcript.

Bank of America announced a quarterly dividend on Wednesday, July 19th. Investors of record on Friday, September 1st will be given a dividend of $0.24 per share on Friday, September 29th. This represents a $0.96 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend 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 3.52%. 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 29.81% 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."

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 $27.38.

Bank of America (NYSE:BAC) has a market capitalization of $217.57 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.