Bank of America (NYSE:BAC) Shares Up 1.4% – Still a Buy?

Bank of America Corporation (NYSE:BAC) shares shot up 1.4% during mid-day trading on Tuesday . The stock traded as high as $54.62 and last traded at $54.3570. 31,571,022 shares changed hands during trading, a decline of 20% from the average session volume of 39,513,949 shares. The stock had previously closed at $53.63.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America said its markets business could exceed the initial forecast of 15% revenue growth in Q2, helped by strength in equities trading. Reuters: Bank of America could exceed 15% market revenue growth in Q2
• Positive Sentiment: The bank is pushing ahead with digital payments initiatives, including cross-border real-time payments and participation in a tokenized deposit network, which may improve its long-term competitive position. Yahoo Finance: Bank of America’s Real-Time Payments and Tokenized Deposits Push Could Be A Game Changer For BAC
• Positive Sentiment: Bank of America also announced a high-visibility FIFA World Cup 2026 sponsorship campaign, which reinforces brand exposure ahead of a major global event. PR Newswire: BofA Kicks Off FIFA World Cup 2026
• Neutral Sentiment: Management comments from the Morgan Stanley US Financials Conference added incremental color, but no major new financial guidance was highlighted in the transcript headline. Seeking Alpha: Bank of America Presents at Morgan Stanley US Financials Conference 2026 Transcript
• Negative Sentiment: BofA’s own strategists warned that many “bear market signposts” are flashing red and suggested investors consider taking profits, which can weigh on sentiment around the firm’s market outlook commentary. Yahoo Finance: BofA warns investors to take profits as 70% of the bank’s bear market signals flash red

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BAC. Erste Group Bank downgraded shares of Bank of America from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $59.00 price target on shares of Bank of America in a research note on Thursday, April 16th. Autonomous Res cut their price target on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Wall Street Zen raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, The Goldman Sachs Group increased their price target on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.06.

Bank of America Stock Performance

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. The company has a market cap of $385.75 billion, a PE ratio of 13.45, a P/E/G ratio of 0.91 and a beta of 1.19. The stock’s 50 day simple moving average is $51.73 and its two-hundred day simple moving average is $52.32.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. During the same quarter last year, the firm posted $0.90 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, research analysts anticipate that Bank of America Corporation will post 4.45 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is currently 27.72%.

Insiders Place Their Bets

In other news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bernard A. Mensah sold 94,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the completion of the transaction, the insider directly owned 170,184 shares in the company, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Bank of America

A number of hedge funds have recently made changes to their positions in BAC. Abound Financial LLC acquired a new stake in Bank of America during the 4th quarter valued at $26,000. Wiser Advisor Group LLC acquired a new stake in Bank of America during the 3rd quarter valued at $27,000. Legacy Bridge LLC grew its holdings in Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 330 shares in the last quarter. CrossGen Wealth LLC acquired a new stake in Bank of America during the 4th quarter valued at $30,000. Finally, Joseph Group Capital Management acquired a new stake in Bank of America during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

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.