Zacks Research Boosts Earnings Estimates for Bank of America

Bank of America Corporation (NYSE:BAC) – Investment analysts at Zacks Research increased their Q2 2026 earnings per share estimates for Bank of America in a research note issued on Wednesday, November 5th. Zacks Research analyst Team now anticipates that the financial services provider will post earnings per share of $1.02 for the quarter, up from their previous estimate of $1.01. The consensus estimate for Bank of America’s current full-year earnings is $3.70 per share. Zacks Research also issued estimates for Bank of America’s Q1 2027 earnings at $1.00 EPS and Q3 2027 earnings at $1.32 EPS.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.13. The business had revenue of $28.09 billion during the quarter, compared to analysts’ expectations of $27.05 billion. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share.

A number of other analysts have also recently commented on the company. Erste Group Bank upgraded Bank of America from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Royal Bank Of Canada boosted their price target on Bank of America from $53.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Evercore ISI boosted their price target on Bank of America from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research report on Thursday, October 30th. Finally, Argus boosted their price target on Bank of America from $53.00 to $58.00 in a research report on Friday, October 17th. Twenty-three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.59.

Bank of America Stock Down 2.1%

Bank of America stock opened at $52.44 on Thursday. The stock has a market capitalization of $382.94 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34. Bank of America has a 12 month low of $33.06 and a 12 month high of $53.99. The business has a 50 day simple moving average of $51.22 and a 200-day simple moving average of $47.35. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79.

Bank of America declared that its board has approved a share repurchase plan on Wednesday, July 23rd that allows the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 11.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, December 5th. Bank of America’s payout ratio is currently 30.52%.

Institutional Investors Weigh In On Bank of America

Several large investors have recently bought and sold shares of BAC. Nova Wealth Management Inc. increased its holdings in Bank of America by 75.2% during the 2nd quarter. Nova Wealth Management Inc. now owns 529 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 227 shares during the period. Quaker Wealth Management LLC increased its holdings in Bank of America by 246.5% during the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 880 shares during the period. RMG Wealth Management LLC purchased a new stake in Bank of America during the 2nd quarter worth about $28,000. Steph & Co. increased its holdings in shares of Bank of America by 224.3% in the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 379 shares during the last quarter. Finally, CGC Financial Services LLC increased its holdings in shares of Bank of America by 585.4% in the 2nd quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 521 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Company Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.