Bank of America (NYSE:BAC) Given New $58.00 Price Target at Oppenheimer

Bank of America (NYSE:BAC) had its price objective cut by stock analysts at Oppenheimer from $63.00 to $58.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s target price would indicate a potential upside of 20.45% from the stock’s current price.

A number of other analysts also recently commented on BAC. Jefferies Financial Group initiated coverage on shares of Bank of America in a report on Thursday. They set a “buy” rating and a $60.00 price objective on the stock. CICC Research assumed coverage on Bank of America in a report on Wednesday, January 14th. They issued an “outperform” rating and a $62.00 price target on the stock. Wall Street Zen raised Bank of America from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Morgan Stanley decreased their target price on Bank of America from $68.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. Finally, The Goldman Sachs Group dropped their price target on Bank of America from $67.00 to $57.00 and set a “buy” rating for the company in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.67.

Bank of America Stock Performance

Shares of BAC opened at $48.15 on Friday. The stock has a market capitalization of $344.07 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.19 and a beta of 1.28. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America has a 1 year low of $33.06 and a 1 year high of $57.55. The company’s fifty day moving average is $51.15 and its two-hundred day moving average is $52.28.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same quarter last year, the business earned $0.82 EPS. The business’s revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts predict that Bank of America will post 3.7 earnings per share for the current year.

Insider Transactions at Bank of America

In related news, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the sale, the insider owned 170,184 shares of the company’s stock, valued at $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the sale, the insider owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. This represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 227,832 shares of company stock valued at $11,094,960 over the last three months. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Bank of America

A number of hedge funds have recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after purchasing an additional 25,143 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Bank of America by 40.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 6,174 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Bank of America in the 2nd quarter worth $289,000. Patrick M Sweeney & Associates Inc. raised its position in shares of Bank of America by 0.6% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 126,360 shares of the financial services provider’s stock worth $6,183,000 after buying an additional 714 shares during the period. Finally, Level Four Advisory Services LLC boosted its holdings in Bank of America by 5.0% in the second quarter. Level Four Advisory Services LLC now owns 182,569 shares of the financial services provider’s stock valued at $8,639,000 after acquiring an additional 8,628 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Jefferies upgraded BAC to a “strong-buy” / new coverage with a $60 price target, highlighting upside from the bank’s franchise and positioning. This upgrade is a direct catalyst for buying interest. Read More.
• Positive Sentiment: Merrill and Bank of America Private Bank rolled out an AI‑Powered Meeting Journey for advisors — a firmwide efficiency and client‑engagement tool that can reduce advisor prep/follow-up time and potentially increase advisory wallet share and operating leverage. Read More.
• Positive Sentiment: Bank of America formed a Private Capital M&A Group to help private equity firms exit investments — a strategic move to win fee‑generating advisory mandates and capture PE exit flow if deal activity accelerates. Read More.
• Neutral Sentiment: A recent report notes BofA is balancing costs from an Epstein settlement while rolling out new AI advisor tools — the settlement is a one‑off drag but the AI deployments may deliver recurring efficiency gains over time. Read More.
• Neutral Sentiment: Broader-sector context: financials (XLF) remain under pressure YTD but are being pitched as a buy‑low opportunity; sector flows and net interest margin trends will continue to influence BAC performance alongside company‑specific news.
• Negative Sentiment: Goldman Sachs cut its Bank of America price target from $67 to $57 (maintaining a Buy), which could cap near‑term upside and put some pressure on the stock until new fundamentals or guidance justify higher targets. Read More.

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.