Bank of America (NYSE:BAC) Price Target Raised to $65.00

Bank of America (NYSE:BAC) had its price target hoisted by Truist Financial from $64.00 to $65.00 in a research note issued to investors on Wednesday, Marketbeat reports. The firm currently has a buy rating on the financial services provider’s stock.

BAC has been the subject of several other research reports. Evercore set a $63.00 price target on Bank of America and gave the stock an “outperform” rating in a report on Monday, July 6th. Wells Fargo & Company raised their price objective on Bank of America from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday. Autonomous Res cut their price objective on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. HSBC upped their target price on shares of Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Finally, Morgan Stanley increased 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. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.77.

Bank of America Price Performance

BAC stock opened at $61.18 on Wednesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.81 and a current ratio of 0.83. The business has a 50-day simple moving average of $55.30 and a two-hundred day simple moving average of $53.15. The company has a market capitalization of $434.16 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. Bank of America has a 52-week low of $44.75 and a 52-week high of $62.12.

Bank of America (NYSE:BAC) last issued 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. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $30.78 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. Research analysts expect that Bank of America will post 4.64 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is 27.72%.

Insiders Place Their Bets

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $72,803,774.97. The trade was 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. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bank of America

A number of hedge funds have recently made changes to their positions in the business. Abound Financial LLC bought a new stake in Bank of America in the fourth quarter worth about $26,000. Legacy Bridge LLC grew its position in shares of 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. Wiser Advisor Group LLC bought a new position in shares of Bank of America during the 3rd quarter valued at approximately $27,000. CrossGen Wealth LLC bought a new position in shares of Bank of America during the 4th quarter valued at approximately $30,000. Finally, Joseph Group Capital Management purchased a new stake in shares of Bank of America during the 4th quarter worth approximately $32,000. 70.71% of the stock is currently owned by institutional investors.

Trending Headlines about 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 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.