Zacks Research Boosts Earnings Estimates for Bank of America

Bank of America Corporation (NYSE:BAC) – Investment analysts at Zacks Research lifted their Q2 2026 earnings per share (EPS) estimates for Bank of America in a research note issued on Wednesday, November 5th. Zacks Research analyst Team now forecasts that the financial services provider will post earnings per share of $1.02 for the quarter, up from their prior forecast of $1.01. The consensus estimate for Bank of America’s current full-year earnings is $3.70 per share. Zacks Research also issued estimates for Bank of America’s Q1 2027 earnings at $1.00 EPS and Q3 2027 earnings at $1.32 EPS.

Other analysts have also issued research reports about the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research note on Thursday, October 30th. 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 note on Monday, October 6th. The Goldman Sachs Group reduced their target price on Bank of America from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $58.00 target price (up previously from $57.00) on shares of Bank of America in a research note on Thursday, October 16th. Finally, Dbs Bank upgraded Bank of America to a “moderate buy” rating in a research note on Wednesday, October 22nd. Twenty-three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.59.

Bank of America Stock Down 2.1%

Shares of BAC opened at $52.44 on Thursday. The company has a market cap of $382.94 billion, a PE ratio of 14.29, a P/E/G ratio of 1.99 and a beta of 1.34. The business has a fifty day moving average of $51.22 and a 200 day moving average of $47.35. Bank of America has a 52-week low of $33.06 and a 52-week high of $53.99. 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 (NYSE:BAC) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.13. The company had revenue of $28.09 billion during the quarter, compared to the consensus estimate of $27.05 billion. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.Bank of America’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share.

Bank of America announced that its board has approved a share buyback program on Wednesday, July 23rd that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 11.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. Bank of America’s dividend payout ratio (DPR) is presently 30.52%.

Institutional Investors Weigh In On Bank of America

A number of institutional investors have recently added to or reduced their stakes in the stock. Centerpoint Advisors LLC boosted its holdings in Bank of America by 14.5% in the third quarter. Centerpoint Advisors LLC now owns 2,727 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 346 shares in the last quarter. AlTi Global Inc. boosted its holdings in Bank of America by 4.0% in the third quarter. AlTi Global Inc. now owns 55,398 shares of the financial services provider’s stock worth $2,858,000 after acquiring an additional 2,106 shares in the last quarter. Profund Advisors LLC boosted its holdings in Bank of America by 21.5% in the third quarter. Profund Advisors LLC now owns 92,174 shares of the financial services provider’s stock worth $4,755,000 after acquiring an additional 16,327 shares in the last quarter. Western Wealth Management LLC boosted its holdings in Bank of America by 1.1% in the third quarter. Western Wealth Management LLC now owns 91,277 shares of the financial services provider’s stock worth $4,709,000 after acquiring an additional 958 shares in the last quarter. Finally, REAP Financial Group LLC boosted its holdings in Bank of America by 8.8% in the third quarter. REAP Financial Group LLC now owns 5,363 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 435 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

About Bank of America

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.