Bank of America (NYSE:BAC) Trading Down 2.4% – Here’s What Happened

Bank of America Corporation (NYSE:BAC)’s stock price was down 2.4% on Wednesday . The stock traded as low as $60.91 and last traded at $61.0930. 37,598,267 shares traded hands during trading, a decline of 3% from the average session volume of 38,635,629 shares. The stock had previously closed at $62.62.

Key Bank of America News

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: JPMorgan raised its price target for Bank of America from $62.50 to $68.00 and upgraded its view to “overweight,” implying meaningful upside from recent trading levels. Benzinga analyst price-target report
• Positive Sentiment: Erste Group increased its FY2026 EPS forecast for BAC to $4.64 from $4.53 and its FY2027 estimate to $5.20 from $5.13. The revisions indicate improving expectations for the bank’s earnings outlook, although the FY2026 estimate is broadly in line with consensus. Bank of America earnings estimates
• Positive Sentiment: Bank of America has also been identified as a potential beneficiary of artificial-intelligence adoption, with strategists projecting margin expansion through 2027 as technology investments improve efficiency.
• Neutral Sentiment: The bank launched an expanded Travel Center powered by Rocket Travel by Agoda, offering nearly one million travel options and more flexible payment and rewards features. The initiative could support customer engagement, but its near-term effect on revenue is unclear. Bank of America Travel Center announcement
• Neutral Sentiment: Bank of America’s reported ownership stake in Umicore has hovered around the 3% disclosure threshold after multiple crossings. The filing is primarily regulatory and does not appear material to BAC’s operating outlook.
• Negative Sentiment: Bank stocks broadly retreated from recent records before the Fed meeting. Concerns that policymakers could keep rates higher—or potentially raise rates—have increased volatility and encouraged profit-taking across the financial sector, pressuring BAC along with JPMorgan, Morgan Stanley, Goldman Sachs, Citi and Wells Fargo. Bank stocks retreat ahead of Fed meeting

Wall Street Analyst Weigh In

BAC has been the subject of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research note on Tuesday, July 21st. Jefferies Financial Group restated a “buy” rating and set a $75.00 price target on shares of Bank of America in a report on Tuesday, July 14th. Autonomous Res reduced their price objective on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Piper Sandler increased their price objective on shares of Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Finally, Daiwa Securities Group boosted their target price on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Bank of America Price Performance

The business’s fifty day moving average is $56.89 and its 200-day moving average is $53.41. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market cap of $433.55 billion, a PE ratio of 14.01, a P/E/G ratio of 1.00 and a beta of 1.17.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.13 by $0.08. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. On average, research analysts predict that Bank of America Corporation will post 4.65 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.32 dividend. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America’s payout ratio is presently 25.69%.

Insider Activity at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Bank of America

Large investors have recently bought and sold shares of the company. Abound Financial LLC purchased a new position in shares of Bank of America during the 4th quarter valued at $26,000. Wiser Advisor Group LLC bought a new position in shares of Bank of America during the 3rd quarter worth $27,000. Legacy Bridge LLC increased its holdings in Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 330 shares during the last quarter. CrossGen Wealth LLC purchased a new stake in Bank of America in the 4th quarter worth about $30,000. Finally, Joseph Group Capital Management bought a new stake in Bank of America in the 4th quarter valued at about $32,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

About Bank of America

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.