Bank of America (NYSE:BAC) Shares Down 1.7% – Time to Sell?

Bank of America Corporation (NYSE:BAC) shares dropped 1.7% during trading on Wednesday . The stock traded as low as $62.98 and last traded at $63.1690. 23,823,233 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 37,405,813 shares. The stock had previously closed at $64.23.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America tied with PNC for first place in Keynova Group’s 2026 Mortgage–Home Equity Scorecard, highlighting the strength of its digital mortgage and home-equity experience. The recognition may support customer retention and future loan origination activity. Home Lenders Enhance Digital Impact With Accelerated Closing and Funding
• Neutral Sentiment: Bank of America appointed Yuta Komori as chair of Asia Pacific Global Industrials Investment Banking and named Meng Gao and Masashi Toda as co-heads. The changes reinforce the bank’s focus on expanding its Asia-Pacific investment-banking franchise, but are unlikely to materially affect near-term earnings. Bank of America Names New Asia Pacific Industrials Banking Leadership Team
• Neutral Sentiment: Bank of America committed $250,000 to the American Red Cross for wildfire relief across the Pacific Northwest and western mountain states. The donation supports the company’s corporate reputation but has no meaningful financial impact. BofA Directs $250,000 to American Red Cross to Support Fire Recovery
• Negative Sentiment: Bank of America was among six banks agreeing to an $86.4 million settlement resolving allegations of manipulation in the Mexican bond market. Although the total cost will be shared among the banks, the settlement adds legal and regulatory expense and may weigh on sentiment toward BAC. Major US Banks Agree to $86.4M Settlement in Mexican Bond-Rigging Case
• Negative Sentiment: A recent valuation analysis rated BAC a “Hold,” arguing that its current valuation already assumes a roughly 16% terminal return on tangible common equity. That leaves less room for upside if interest rates, credit quality or investment-banking conditions weaken. Bank of America: Current Price Already Requires a 16% Terminal ROTCE

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Jefferies Financial Group restated a “buy” rating and set a $75.00 price objective on shares of Bank of America in a research report on Tuesday, July 14th. Argus set a $70.00 price target on Bank of America in a report on Wednesday, July 15th. Evercore set a $63.00 price objective on shares of Bank of America and gave the stock an “outperform” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. increased their target price on shares of Bank of America from $62.50 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Robert W. Baird upped their price target on shares of Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Twenty-one 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $64.08.

Bank of America Price Performance

The firm has a market capitalization of $441.73 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.03 and a beta of 1.17. The stock’s 50 day simple moving average is $60.18 and its 200 day simple moving average is $54.49. 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 (NYSE:BAC) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.Bank of America’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 earnings per share. As a group, analysts expect that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.

Bank of America Increases Dividend

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

Institutional Trading of Bank of America

A number of hedge funds have recently added to or reduced their stakes in the business. Field & Main Bank purchased a new position in Bank of America during the 2nd quarter valued at about $1,409,000. Archer Investment Corp bought a new position in shares of Bank of America during the second quarter valued at approximately $1,675,000. Kingsview Wealth Management LLC increased its holdings in Bank of America by 0.8% during the second quarter. Kingsview Wealth Management LLC now owns 129,349 shares of the financial services provider’s stock valued at $7,370,000 after buying an additional 1,024 shares during the period. Kimelman & Baird LLC purchased a new position in Bank of America during the second quarter valued at approximately $44,772,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in Bank of America in the second quarter worth approximately $1,206,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

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.