Bank of America (NYSE:BAC) Hits New 12-Month High – Here’s Why

Bank of America Corporation (NYSE:BAC)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $64.00 and last traded at $63.7370, with a volume of 7659072 shares. The stock had previously closed at $63.17.

Bank of America News Summary

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

• Positive Sentiment: Bank of America announced an $250 billion infrastructure initiative to mobilize financing, investment and advisory capital for U.S. digital, energy, power and core infrastructure projects through July 2027. The plan could expand lending, investment-banking and advisory revenue while strengthening the bank’s relationships with government and corporate clients. Management said the program could support tens of thousands of jobs and improve U.S. energy security and competitiveness. Bank of America Launches $250 Billion Infrastructure Finance Initiative
• Positive Sentiment: Erste Group raised its Bank of America EPS forecasts to $4.65 for fiscal 2026 and $5.25 for fiscal 2027, with the latter above the current consensus estimate of $4.68 for the current year. Higher earnings expectations support the bullish case for BAC, although the 2026 estimate remains slightly below consensus. Bank of America Earnings Estimate Revision
• Positive Sentiment: Wall Street sentiment toward BAC remains broadly favorable as stronger trading activity, capital-markets conditions and investment-banking prospects support the bank’s earnings outlook. BofA’s positive research calls on Nvidia and other technology companies may also benefit its investment-banking and financing franchise. Wall Street Sentiment on Bank of America
• Neutral Sentiment: Bank of America is tightening lending standards for data-center projects because of permitting delays, community opposition and environmental concerns. The move could reduce near-term exposure to risky AI infrastructure projects, but it may also limit loan growth if data-center demand remains strong. Bank of America Tightens Data Center Lending Standards

Analysts Set New Price Targets

BAC has been the topic of several research analyst reports. HSBC upped their target price on Bank of America from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Keefe, Bruyette & Woods increased their price target on Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price target on shares of Bank of America from $62.50 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Citigroup lifted their price target on Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, The Goldman Sachs Group boosted their price objective on Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.08.

Bank of America Stock Up 0.2%

The company’s 50 day simple moving average is $59.11 and its 200-day simple moving average is $54.05. The firm has a market capitalization of $447.30 billion, a PE ratio of 14.67, a PEG ratio of 1.02 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83.

Bank of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.32 per share. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America’s dividend payout ratio is 25.69%.

Institutional Investors Weigh In On Bank of America

Several hedge funds have recently bought and sold shares of BAC. Turim 21 Investimentos Ltda. purchased a new stake in Bank of America in the second quarter worth approximately $25,000. Abound Financial LLC bought a new stake in shares of Bank of America in the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America in the 3rd quarter valued at $27,000. CrossGen Wealth LLC bought a new position in shares of Bank of America during the 4th quarter valued at $30,000. Finally, Joseph Group Capital Management purchased a new position in Bank of America in the 4th quarter worth $32,000. 70.71% of the stock is currently owned by institutional investors.

About Bank of America

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.