Bank of America Corporation (NYSE:BAC) Receives $62.60 Consensus Target Price from Brokerages

Bank of America Corporation (NYSE:BAC) has received an average recommendation of “Moderate Buy” from the twenty-seven analysts that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $63.7708.

Several equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Morgan Stanley boosted their target price on shares of Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Keefe, Bruyette & Woods upped their target price on shares of Bank of America from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research note on Friday, April 24th. Finally, HSBC lifted their price target on shares of Bank of America from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, April 16th.

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 sale, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
• Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
• Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
• Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo

Bank of America Stock Performance

Shares of BAC opened at $61.18 on Wednesday. The company has a 50-day simple moving average of $55.30 and a two-hundred day simple moving average of $53.13. 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 capitalization of $434.16 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. Bank of America has a one year low of $44.75 and a one year high of $62.12.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 EPS. On average, analysts anticipate that Bank of America will post 4.64 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is presently 25.69%.

Bank of America Company Profile

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.