Bank of America (NYSE:BAC) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $61.50 to $57.50 in a research note issued to investors on Tuesday,MarketScreener reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 15.19% from the stock’s previous close.
Other research analysts have also recently issued reports about the stock. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Wednesday, April 1st. Morgan Stanley dropped their price objective on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. TD Cowen dropped their price objective on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Evercore decreased their target price on shares of Bank of America from $59.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Oppenheimer decreased their target price on shares of Bank of America from $63.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, March 27th. Twenty-three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $58.90.
Check Out Our Latest Stock Analysis on BAC
Bank of America Price Performance
Bank of America (NYSE:BAC – Get Free Report) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. Research analysts predict that Bank of America will post 3.7 earnings per share for the current year.
Insider Activity
In other news, 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 value of $4,412,360.00. Following the transaction, the insider owned 170,184 shares of the company’s stock, valued at approximately $7,988,436.96. This trade represents a 35.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas M. Scrivener sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the completion of the transaction, the insider directly owned 227,973 shares in the company, valued at approximately $11,357,614.86. This represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 227,832 shares of company stock valued at $11,094,960. Company insiders own 0.30% 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 the business. Vanguard Group Inc. increased its stake in Bank of America by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock worth $35,809,225,000 after buying an additional 23,351,183 shares during the period. Capital World Investors increased its stake in Bank of America by 11.0% during the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock worth $7,448,816,000 after buying an additional 14,275,810 shares during the period. Norges Bank purchased a new stake in Bank of America during the 4th quarter worth $4,774,210,000. Bank of New York Mellon Corp increased its stake in Bank of America by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock worth $3,169,062,000 after buying an additional 2,929,779 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Bank of America by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock worth $2,958,110,000 after buying an additional 1,105,833 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.
Key Bank of America News
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Bank of America was named the No. 1 global OCIO provider for nonprofits in 2025 — a win for recurring fee revenue and institutional credibility that supports long‑term noninterest income growth. Bank of America Named No. 1 Nonprofit OCIO Provider Globally in 2025
- Positive Sentiment: Goldman Sachs raised its price target to $58 (maintains Buy), boosting sentiment and giving analysts’ support for further upside versus current levels. Goldman Sachs adjusts price target on Bank of America to $58 from $57; maintains Buy
- Positive Sentiment: Coverage and media pieces note BAC has outpaced the broader market recently and that analyst upgrades are refocusing attention on its earnings track record, capital returns (dividends/buybacks) and valuation — factors likely driving short‑term buying. Bank of America (BAC) Outpaces Stock Market Gains: What You Should Know
- Neutral Sentiment: Evercore trimmed its price target to $55 but kept an Outperform rating — mixed signal (lower target vs. continued conviction), so watch analyst commentary for guidance. Evercore ISI adjusts price target on Bank of America to $55 from $59; maintains Outperform
- Neutral Sentiment: Autonomous lowered its target to $54 and kept a Neutral rating — another modest pullback in street targets but not a consensus downgrade. Autonomous adjusts price target on Bank of America to $54 from $62; maintains Neutral
- Neutral Sentiment: Bank of America research is in the news for macro views (India/Nifty forecasts, stagflation risks) — useful for global clients but only indirectly relevant to BAC’s own stock performance. BofA cites nearly 50 stocks that could perform well irrespective of geopolitical outcome
- Negative Sentiment: Analysts warn the interest‑rate tailwind is fading — Bank of America heads into Q1 results (expected Apr. 15) with still‑resilient NII but a risk that margin benefits slow if rates stabilize or fall, creating earnings sensitivity. This introduces short‑term earnings risk that could temper further upside. Bank of America (BAC) looks strong ahead of Q1 results but the rate tailwind is fading
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.
Further Reading
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