Bank of America (NYSE:BAC) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Bank of America (NYSE:BAC) from a hold rating to a sell rating in a research note released on Monday.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods lifted their price objective on Bank of America from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Phillip Securities boosted their price objective on shares of Bank of America from $50.00 to $56.00 in a research note on Tuesday, October 21st. Daiwa Capital Markets raised their target price on shares of Bank of America from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Finally, Citigroup lifted their target price on shares of Bank of America from $58.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Twenty-three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and an average target price of $59.27.

Bank of America Stock Up 1.6%

Shares of NYSE BAC opened at $56.84 on Monday. The stock has a market capitalization of $415.04 billion, a PE ratio of 15.49 and a beta of 1.29. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The firm has a fifty day moving average of $53.88 and a 200-day moving average of $50.76. Bank of America has a 52-week low of $33.06 and a 52-week high of $57.55.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.13. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The business had revenue of $5.35 billion for the quarter, compared to analyst estimates of $27.05 billion. During the same period last year, the company posted $0.81 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts anticipate that Bank of America will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 5th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.12 dividend on an annualized basis and a yield of 2.0%. Bank of America’s dividend payout ratio is currently 30.52%.

Hedge Funds Weigh In On Bank of America

A number of institutional investors have recently made changes to their positions in the business. Riverview Capital Advisers LLC increased its stake in shares of Bank of America by 4.2% in the third quarter. Riverview Capital Advisers LLC now owns 4,686 shares of the financial services provider’s stock worth $242,000 after buying an additional 188 shares during the last quarter. Shepherd Financial Partners LLC grew its holdings in Bank of America by 0.3% during the 3rd quarter. Shepherd Financial Partners LLC now owns 60,279 shares of the financial services provider’s stock worth $3,110,000 after acquiring an additional 189 shares in the last quarter. William B. Walkup & Associates Inc. increased its position in shares of Bank of America by 1.4% in the 3rd quarter. William B. Walkup & Associates Inc. now owns 14,020 shares of the financial services provider’s stock worth $723,000 after purchasing an additional 192 shares during the last quarter. Albion Financial Group UT increased its position in shares of Bank of America by 1.6% in the 3rd quarter. Albion Financial Group UT now owns 13,031 shares of the financial services provider’s stock worth $672,000 after purchasing an additional 205 shares during the last quarter. Finally, Motive Wealth Advisors raised its stake in shares of Bank of America by 3.6% in the 3rd quarter. Motive Wealth Advisors now owns 5,910 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 205 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Wells Fargo raised its price target on BAC to $65 and keeps an “overweight” rating, implying material upside from current levels and lending third‑party validation to the stock’s rally. Wells Fargo price target raise
• Positive Sentiment: Research and guidance from BofA around Bitcoin products is being interpreted as a growth opportunity: the firm has signaled advisers can now recommend Bitcoin ETFs and BofA published a view that portfolios should hold ~4% Bitcoin. That stance could boost fee income, wealth advisory activity and client AUM if adoption widens. BofA advisers and Bitcoin ETFs BofA 4% Bitcoin allocation
• Neutral Sentiment: Intraday market action shows moderately bullish trading interest in BAC, reflecting momentum and higher volume rather than a single fundamental catalyst. MSN: Moderately bullish activity
• Neutral Sentiment: Analysts and commentators are reassessing BAC valuation after recent share‑price momentum — positive ratings and higher targets support upside, but valuation reviews could cap short‑term gains if multiples look stretched. Yahoo: Assessing BAC valuation
• Neutral Sentiment: CEO Brian Moynihan’s hiring push for Gen‑Z grads (2,000 hires from 200,000 applicants) is a positive PR / workforce development story but is unlikely to move the stock materially in the near term. Fortune: BofA hiring Gen Z grads

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.