Bank of America (NYSE:BAC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Bank of America (NYSE:BAC) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $58.00 to $61.00 in a note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 6.79% from the company’s current price.

Several other research analysts have also commented on the stock. Seaport Global Securities raised their price target on shares of Bank of America from $59.00 to $66.00 and gave the company a “buy” rating in a report on Monday, October 6th. Daiwa Capital Markets raised their target price on Bank of America from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Phillip Securities increased their price objective on shares of Bank of America from $50.00 to $56.00 in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research note on Thursday, October 30th. Finally, TD Cowen upped their target price on shares of Bank of America from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Twenty-three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and an average price target of $59.68.

Bank of America Stock Up 2.1%

Shares of NYSE:BAC opened at $57.12 on Tuesday. The company has a market capitalization of $417.13 billion, a P/E ratio of 15.58 and a beta of 1.29. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. Bank of America has a 52-week low of $33.06 and a 52-week high of $57.55. The stock’s fifty day simple moving average is $53.88 and its 200-day simple moving average is $50.76.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.13. The business had revenue of $5.35 billion for the quarter, compared to analyst estimates of $27.05 billion. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. As a group, equities research analysts forecast that Bank of America will post 3.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Nova Wealth Management Inc. boosted its holdings in Bank of America by 75.2% in the second quarter. Nova Wealth Management Inc. now owns 529 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 227 shares during the period. Quaker Wealth Management LLC grew its position in shares of 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 valued at $25,000 after buying an additional 880 shares during the last quarter. Wiser Advisor Group LLC bought a new position in Bank of America in the third quarter worth about $27,000. RMG Wealth Management LLC acquired a new position in Bank of America in the second quarter valued at approximately $28,000. Finally, Steph & Co. grew its holdings 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 valued at $28,000 after purchasing an additional 379 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Wells Fargo raised its price target on BAC to $65 and kept an Overweight rating, signaling analyst conviction and supporting bullish investor sentiment. This upgrade can attract buyers and frame upside potential for the stock. Wells Fargo adjusts price target on Bank of America to $65
• Positive Sentiment: Bank of America announced it will allow its advisers to recommend Bitcoin ETFs to clients — a product/policy shift that can boost trading volumes, advisory fees and AUM tied to crypto products, and positions BAC competitively in wealth management. Bank of America Opens the Door for Advisers to Recommend Bitcoin ETFs
• Positive Sentiment: Supporting the crypto push, Bank of America strategists recommended a 4% Bitcoin allocation for investors — messaging that may drive client interest in crypto allocations and related products that generate fees. Investors Should Hold 4% Bitcoin in Portfolio, Says Bank of America
• Positive Sentiment: Market flows and sentiment pieces show moderately bullish activity in BAC (coverage noted shares rising), which can amplify momentum as algos and funds follow price/flow signals. Moderately bullish activity in Bank of America with shares up 2.73%
• Neutral Sentiment: Valuation checks: recent write-ups assess BAC’s valuation after share-price momentum — useful for medium-term investors but not an immediate catalyst. Watch earnings, margins and net interest income for follow-through. Assessing Bank of America (BAC) Valuation
• Neutral Sentiment: Operational note: CEO said the bank hired ~2,000 recent Gen Z grads from a large applicant pool — positive for talent pipeline and digital focus, but not an immediate earnings driver. Bank of America CEO says he hired 2,000 recent Gen Z grads
• Neutral Sentiment: Broader market commentary (Zacks Analyst Blog) includes Bank of America among daily coverage items — useful context but not a direct BAC-specific catalyst. The Zacks Analyst Blog Meta, Bank of America, The Procter & Gamble, Espey and NeurAxis

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.