Bank of America Corporation (NYSE:BAC)’s stock price shot up 1.2% on Wednesday . The company traded as high as $53.61 and last traded at $53.3850. 30,694,791 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 40,021,355 shares. The stock had previously closed at $52.74.
Trending Headlines about Bank of America
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Launching a no‑fee, expanded loyalty program that will make more than 30 million clients newly eligible — widens cross‑sell opportunity for credit cards, banking and Merrill investing relationships, which can boost fee income and customer retention. New BofA Rewards™ Program to Reach Millions More Clients with Expanded Benefits
- Positive Sentiment: Bank of America Private Bank launched an art consulting service for wealthy clients — a fee‑generating advisory product that can support higher‑margin client relationships and increase demand for art‑backed lending. Bank of America Launches Art Consulting Service
- Positive Sentiment: Recent quarterly results showed an EPS beat and double‑digit revenue growth year‑over‑year, supporting the bank’s earnings momentum and valuation multiple (PE ~13.9) — a fundamental underpinning for the stock’s strength.
- Neutral Sentiment: Analyst pieces and dividend commentary (e.g., Zacks) highlight BAC’s yield and payout profile for income investors, which sustains interest but is not a near‑term catalyst. Bank of America (BAC) Could Be a Great Choice
- Neutral Sentiment: Bank of America’s market research (fund manager surveys) is getting attention for insights on AI and capex; interesting for macro positioning but indirectly relevant to BAC’s stock. AI Spending Bubble Fear Just Hit An All-Time High, BofA Survey Shows
- Neutral Sentiment: Bank of America crossed a disclosure threshold by lifting a stake in Galapagos above 5% — a portfolio move that’s informational but not a direct driver for BAC’s share price. Bank of America Lifts Stake in Galapagos Above 5% Transparency Threshold
- Negative Sentiment: Berkshire Hathaway trimmed its stake in Bank of America, which can be interpreted as a signal that a major investor is reducing exposure and may add downward pressure or investor caution. Berkshire Pares Stakes in Apple and BofA, Adds New York Times Position
- Negative Sentiment: CEO compensation rose following earnings growth — a governance item that may draw investor scrutiny and temper sentiment for some shareholders. Bank of America CEO Brian Moynihan sees compensation rise following earnings growth
Analyst Upgrades and Downgrades
BAC has been the topic of several research reports. Wells Fargo & Company upped their price target on shares of Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. JPMorgan Chase & Co. boosted their target price on shares of Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. TD Cowen decreased their price target on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. Barclays raised their price target on shares of Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Wall Street Zen raised Bank of America from a “sell” rating to a “hold” rating in a report on Saturday. Twenty-two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $60.30.
Bank of America Trading Up 1.2%
The company has a market capitalization of $389.84 billion, a P/E ratio of 13.94, a PEG ratio of 1.28 and a beta of 1.29. The business has a 50 day moving average price of $54.38 and a 200 day moving average price of $52.16. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15.
Bank of America (NYSE:BAC – Get Free Report) last issued its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 earnings per share. Analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current year.
Bank of America Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, March 6th. Bank of America’s dividend payout ratio is 29.24%.
Institutional Investors Weigh In On Bank of America
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Bank of America by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock valued at $35,809,225,000 after acquiring an additional 23,351,183 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Bank of America by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 148,176,755 shares of the financial services provider’s stock worth $6,982,863,000 after purchasing an additional 403,652 shares during the last quarter. Capital World Investors raised its position in Bank of America by 11.0% during the third quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock worth $7,448,816,000 after acquiring an additional 14,275,810 shares in the last quarter. Norges Bank bought a new stake in Bank of America in the second quarter valued at approximately $5,091,641,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Bank of America by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock worth $3,169,062,000 after buying an additional 2,929,779 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.
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.
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