Oppenheimer Has Lowered Expectations for Bank of America (NYSE:BAC) Stock Price

Bank of America (NYSE:BAC) had its price target cut by stock analysts at Oppenheimer from $63.00 to $58.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price target would suggest a potential upside of 20.45% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. HSBC upped their target price on shares of Bank of America from $55.00 to $57.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. Barclays boosted their price target on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. The Goldman Sachs Group cut their price objective on Bank of America from $67.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday. TD Cowen reduced their price objective on Bank of America from $66.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. lifted their target price on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.67.

Bank of America Stock Performance

Shares of Bank of America stock opened at $48.15 on Friday. The stock has a market capitalization of $344.07 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.19 and a beta of 1.28. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50-day moving average of $51.15 and a 200 day moving average of $52.28. Bank of America has a 12 month low of $33.06 and a 12 month high of $57.55.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Bank of America will post 3.7 earnings per share for the current year.

Insider Transactions at Bank of America

In related news, insider James P. Demare sold 83,832 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the transaction, the insider owned 307,240 shares in the company, valued at approximately $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of the transaction, the insider directly owned 170,184 shares in the company, valued at $7,988,436.96. This trade represents a 35.58% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 227,832 shares of company stock valued at $11,094,960. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Bank of America

Several hedge funds and other institutional investors have recently made changes to their positions in BAC. Abound Financial LLC purchased a new stake in shares of Bank of America in the fourth quarter valued at about $26,000. Legacy Bridge LLC grew its holdings in shares of Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after buying an additional 330 shares during the last quarter. Wiser Advisor Group LLC acquired a new position in Bank of America in the 3rd quarter valued at about $27,000. Steph & Co. raised its stake in Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 379 shares during the last quarter. Finally, CrossGen Wealth LLC purchased a new stake in Bank of America during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America News Summary

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

• Positive Sentiment: Jefferies upgraded BAC to a “strong-buy” / new coverage with a $60 price target, highlighting upside from the bank’s franchise and positioning. This upgrade is a direct catalyst for buying interest. Read More.
• Positive Sentiment: Merrill and Bank of America Private Bank rolled out an AI‑Powered Meeting Journey for advisors — a firmwide efficiency and client‑engagement tool that can reduce advisor prep/follow-up time and potentially increase advisory wallet share and operating leverage. Read More.
• Positive Sentiment: Bank of America formed a Private Capital M&A Group to help private equity firms exit investments — a strategic move to win fee‑generating advisory mandates and capture PE exit flow if deal activity accelerates. Read More.
• Neutral Sentiment: A recent report notes BofA is balancing costs from an Epstein settlement while rolling out new AI advisor tools — the settlement is a one‑off drag but the AI deployments may deliver recurring efficiency gains over time. Read More.
• Neutral Sentiment: Broader-sector context: financials (XLF) remain under pressure YTD but are being pitched as a buy‑low opportunity; sector flows and net interest margin trends will continue to influence BAC performance alongside company‑specific news.
• Negative Sentiment: Goldman Sachs cut its Bank of America price target from $67 to $57 (maintaining a Buy), which could cap near‑term upside and put some pressure on the stock until new fundamentals or guidance justify higher targets. Read More.

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.