Bank of America (NYSE:BAC) Price Target Raised to $72.00

Bank of America (NYSE:BAC) had its price objective boosted by Barclays from $71.00 to $72.00 in a report issued on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Daiwa Securities Group upped their target price on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Morgan Stanley lifted their price target on shares of Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Piper Sandler boosted their price objective on shares of Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. upped their price objective on shares of Bank of America from $57.50 to $62.50 and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, Robert W. Baird increased their target price on shares of Bank of America from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $63.77.

Bank of America Price Performance

BAC opened at $61.18 on Wednesday. The stock has a 50-day moving average price of $55.30 and a 200-day moving average price of $53.15. Bank of America has a 12-month low of $44.75 and a 12-month high of $62.12. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $434.16 billion, a P/E ratio of 14.03, a PEG ratio of 0.99 and a beta of 1.17.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.13 by $0.08. The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company’s revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 EPS. Equities analysts predict that Bank of America will post 4.64 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is presently 27.72%.

Insider Transactions at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Bank of America

Institutional investors have recently made changes to their positions in the stock. Ballast Inc. grew its holdings in shares of Bank of America by 65.6% in the second quarter. Ballast Inc. now owns 14,875 shares of the financial services provider’s stock worth $848,000 after purchasing an additional 5,894 shares during the last quarter. Regent Peak Wealth Advisors LLC raised its holdings in Bank of America by 4.2% during the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 14,073 shares of the financial services provider’s stock valued at $802,000 after buying an additional 564 shares during the last quarter. Tema ETFs LLC raised its holdings in Bank of America by 10.7% during the 2nd quarter. Tema ETFs LLC now owns 136,391 shares of the financial services provider’s stock valued at $7,772,000 after buying an additional 13,195 shares during the last quarter. GenWealth Group Inc. purchased a new stake in Bank of America during the 2nd quarter valued at $206,000. Finally, Dagco Inc. boosted its position in Bank of America by 337.2% during the 2nd quarter. Dagco Inc. now owns 9,330 shares of the financial services provider’s stock valued at $532,000 after buying an additional 7,196 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America News Summary

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

• Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
• Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
• Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
• Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo

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.