The Goldman Sachs Group Cuts Bank of America (NYSE:BAC) Price Target to $57.00

Bank of America (NYSE:BAC) had its target price decreased by The Goldman Sachs Group from $67.00 to $57.00 in a research note published on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the financial services provider’s stock.

A number of other research analysts also recently commented on BAC. HSBC increased their target price on Bank of America from $55.00 to $57.00 and gave the company a “hold” rating in a research report on Friday, February 6th. Barclays upped their price target on shares of Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, January 27th. Royal Bank Of Canada lifted their price objective on shares of Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Finally, Morgan Stanley reduced their target price on shares of Bank of America from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. Twenty-one analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.87.

Bank of America Price Performance

NYSE:BAC opened at $48.74 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $348.25 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.17 and a beta of 1.28. Bank of America has a 12 month low of $33.06 and a 12 month high of $57.55. The business’s 50-day moving average is $51.24 and its 200 day moving average is $52.30.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same quarter last year, the business posted $0.82 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities research analysts forecast that Bank of America will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be given a $0.28 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a yield of 2.3%. Bank of America’s dividend payout ratio (DPR) is currently 29.24%.

Insiders Place Their Bets

In other Bank of America news, insider James P. Demare sold 83,832 shares of Bank of America 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 directly owned 307,240 shares of the company’s stock, valued at $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the transaction, the insider owned 227,973 shares in the company, valued at $11,357,614.86. This trade represents a 17.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 227,832 shares of company stock valued at $11,094,960 over the last three months. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bank of America

Several hedge funds have recently added to or reduced their stakes in BAC. Abound Financial LLC bought a new position in shares of Bank of America during the fourth quarter valued at approximately $26,000. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America in the third quarter worth approximately $27,000. Steph & Co. lifted its stake in shares of Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 379 shares during the last quarter. Legacy Bridge LLC boosted its holdings 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 acquiring an additional 330 shares during the period. Finally, Marquette Asset Management LLC purchased a new position in Bank of America during the 3rd quarter valued at $30,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America News Roundup

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

• Positive Sentiment: BofA sets up a private-capital M&A team to advise on private-equity exits — a direct revenue opportunity from advisory fees as PE managers look to sell or recap assets; the hire signals the bank is chasing fee pools in private markets. Article Title
• Positive Sentiment: Market notes and wire stories highlighting BAC’s outperformance vs. the broader market provide short-term bullish momentum and may attract active flows into the name. Article Title
• Neutral Sentiment: BofA’s research team has been active — initiating and upgrading coverage on AI-infrastructure names (CoreWeave, Nebius) and reinstating coverage on Oracle — which bolsters the firm’s sell-side profile but is indirect for BAC’s fundamentals. Strong research can help trading and investment-banking pipelines over time. Article Title Article Title
• Neutral Sentiment: Analyst and market commentary about the financial sector (XLF) frames BAC as a core bank exposure in a deeply underperformed sector — that could support longer-term flows if sector rotation resumes, but broader NIM and mortgage headwinds remain. (Sector context: watch rates/NIM and loan growth.)
• Neutral Sentiment: Expectations for BAC’s upcoming quarterly report are for modest earnings growth; preview coverage and “what to expect” pieces are keeping the name on investors’ radars but don’t change near-term fundamentals absent surprises. Article Title
• Negative Sentiment: An outside bearish price forecast from Goldman Sachs was published, which could weigh on sentiment and prompt some profit-taking or cautious positioning by institutional investors. Article Title

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.