Truist Financial Cuts Bank of America (NYSE:BAC) Price Target to $60.00

Bank of America (NYSE:BAC) had its price objective cut by Truist Financial from $62.00 to $60.00 in a research note published on Thursday morning, MarketBeat Ratings reports. They currently have a buy rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the company. Seaport Global Securities increased their target price on Bank of America from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Morgan Stanley decreased their target price on shares of Bank of America from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Robert W. Baird upped their price target on shares of Bank of America from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. The Goldman Sachs Group lifted their price target on shares of Bank of America from $58.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.74.

Bank of America Stock Up 0.8%

Shares of NYSE BAC opened at $53.02 on Thursday. The firm has a market cap of $387.18 billion, a P/E ratio of 13.84 and a beta of 1.29. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.80. Bank of America has a 1 year low of $33.06 and a 1 year high of $57.55. The firm’s 50 day moving average price is $54.17 and its 200 day moving average price is $51.22.

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 for the quarter, topping analysts’ consensus estimates 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 company had revenue of $28.53 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same quarter in the prior year, the company posted $0.82 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bank of America will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 5th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, December 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America’s payout ratio is presently 29.24%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quaker Wealth Management LLC lifted its position in Bank of America by 246.5% during the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 880 shares in the last quarter. Wiser Advisor Group LLC acquired a new stake in Bank of America in the third quarter valued at approximately $27,000. RMG Wealth Management LLC purchased a new stake in shares of Bank of America during the second quarter valued at approximately $28,000. Steph & Co. lifted its position in shares of Bank of America by 224.3% during the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 379 shares in the last quarter. Finally, CGC Financial Services LLC lifted its position in shares of Bank of America by 585.4% during the second quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 521 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Q4 results showed broad strength — beats on EPS and revenue driven by net interest income (NII) and Global Markets; management reiterated NII growth for 2026, underpinning earnings momentum. Bank Of America: Buy The Pullback On NII Strength
• Positive Sentiment: Several Wall Street firms raised or reaffirmed targets/ratings after the quarter (Goldman Sachs and Argus among them), reflecting analyst confidence in BAC’s earnings power and valuation upside. Goldman Raises Target on BAC Argus Raises Target on BAC
• Positive Sentiment: Independent research and brokerages remain broadly bullish — Evercore ISI and others have kept Outperform/Buy stances and price targets above current levels, which supports medium‑term upside expectations. Evercore ISI Remains Bullish on BAC (InsiderMonkey)
• Neutral Sentiment: Board declared regular preferred‑stock dividend payments for multiple series (routine cash distributions for preferred/depositary shareholders); this affects preferred holders more than common equity. Bank of America Declares Preferred Stock Dividends (PR Newswire)
• Neutral Sentiment: BofA’s research desk published sector calls (e.g., 3 metals names to watch), which highlights the bank’s franchise strength in research but has limited direct impact on BAC’s stock performance. 3 Metals Stocks Bank of America Is Bullish on for 2026
• Negative Sentiment: CEO warnings about interest‑bearing stablecoins potentially pulling up to $6T from bank deposits raise medium‑term funding and lending risks — a structural threat that could increase funding costs and reduce loanable deposits if regulation permits yield‑paying crypto products. Bank of America CEO warns stablecoins could pull $6T (Cointelegraph)
• Negative Sentiment: Political/regulatory headlines — proposals to cap credit‑card interest rates (reported in recent coverage) have pressured bank sector multiples and prompted short‑term selloffs despite solid fundamentals. This macro/policy overhang is a key reason some investors sold into the earnings news. Bank Stocks Get Punished After Earnings—Is Valuation the Real Problem? (MarketBeat)

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.