Bank of America (NYSE:BAC) Trading Down 1.9% – Here’s Why

Bank of America Corporation (NYSE:BAC) traded down 1.9% on Thursday . The company traded as low as $61.81 and last traded at $61.94. 34,105,978 shares changed hands during trading, a decline of 9% from the average daily volume of 37,386,266 shares. The stock had previously closed at $63.17.

More Bank of America News

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

• Positive Sentiment: Bank of America and PNC tied for first place in Keynova Group’s 2026 Mortgage-Home Equity Scorecard, underscoring BAC’s competitive digital lending experience and potential to strengthen customer relationships. Home Lenders Enhance Digital Impact with Accelerated Closing and Funding, Relationship Value-Adds and Visual Consumer-Education Content
• Positive Sentiment: BAC appointed new Asia-Pacific industrials investment-banking leaders, including Yuta Komori as regional chair and Meng Gao and Masashi Toda as co-heads. The move could support growth in an important corporate and investment-banking market. Bank of America names new Asia Pacific industrials banking leadership team
• Positive Sentiment: Bank of America’s research remains influential across markets, including bullish views on Nvidia, software stocks and copper miners. This supports the visibility of its research and investment-banking franchise, although it does not directly improve BAC’s earnings. Bank of America Thinks Nvidia Stock Could Go 50% Higher

Analyst Ratings Changes

Several research firms have recently weighed in on BAC. Truist Financial lifted their price objective on Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Evercore set a $63.00 price objective on shares of Bank of America and gave the stock an “outperform” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods boosted their target price on shares of Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Argus set a $70.00 price objective on shares of Bank of America in a report on Wednesday, July 15th. Finally, Robert W. Baird increased their price target on Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.08.

Bank of America Price Performance

The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The business’s fifty day moving average price is $60.35 and its 200-day moving average price is $54.56. The stock has a market capitalization of $433.13 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.03 and a beta of 1.17.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The company had revenue of $31.56 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 for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the company earned $0.89 earnings per share. On average, research analysts forecast that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This is an increase from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 2.1%. Bank of America’s dividend payout ratio (DPR) is currently 29.36%.

Hedge Funds Weigh In On Bank of America

Institutional investors and hedge funds have recently bought and sold shares of the company. Turim 21 Investimentos Ltda. purchased a new position in shares of Bank of America in the second quarter worth about $25,000. Abound Financial LLC purchased a new stake in shares of Bank of America during the 4th quarter valued at approximately $26,000. Wiser Advisor Group LLC bought a new position in Bank of America in the 3rd quarter worth approximately $27,000. CrossGen Wealth LLC bought a new position in Bank of America in the 4th quarter worth approximately $30,000. Finally, Joseph Group Capital Management purchased a new position in Bank of America in the 4th quarter valued at approximately $32,000. 70.71% of the stock is owned by institutional investors.

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.