Bank of America (NYSE:BAC) Price Target Raised to $58.00

Bank of America (NYSE:BAC) had its price target raised by The Goldman Sachs Group from $57.00 to $58.00 in a research note released on Monday morning,MarketScreener reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on BAC. Wall Street Zen upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Argus increased their price objective on Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, January 15th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Wednesday, April 1st. Piper Sandler increased their price objective on Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Finally, JPMorgan Chase & Co. increased their price objective on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.10.

Bank of America Stock Up 3.2%

Shares of NYSE:BAC opened at $51.91 on Monday. The company has a fifty day moving average of $50.61 and a 200-day moving average of $52.19. The company has a market capitalization of $370.90 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.20 and a beta of 1.23. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. 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 announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. On average, equities analysts predict that Bank of America will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, March 6th. Bank of America’s dividend payout ratio is presently 29.24%.

Insider Buying and Selling at Bank of America

In other Bank of America news, insider James P. Demare sold 83,832 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the sale, the insider owned 307,240 shares of the company’s stock, valued at approximately $15,362,000. This represents a 21.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of the company’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 sale, the insider directly owned 227,973 shares in the company, valued at $11,357,614.86. This trade represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 227,832 shares of company stock valued at $11,094,960. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Bank of America

Institutional investors have recently bought and sold shares of the company. Abound Financial LLC bought a new stake in Bank of America during the fourth quarter valued at $26,000. Wiser Advisor Group LLC bought a new stake in Bank of America during the third quarter valued at $27,000. Steph & Co. boosted its position in Bank of America by 224.3% during the third 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. Legacy Bridge LLC boosted its position in Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 330 shares during the last quarter. Finally, Marquette Asset Management LLC bought a new stake in Bank of America during the third quarter valued at $30,000. Institutional investors own 70.71% of the company’s stock.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Regulatory draft could free capital — Analysts estimate U.S. banks might be able to release up to ~$320 billion under proposed draft rules, which would meaningfully boost capital available for buybacks/dividends and improve return metrics for big banks like BAC. US banks could release $320 billion…
• Positive Sentiment: Momentum: BAC has extended a multi-session winning streak, reflecting improving investor sentiment ahead of earnings and helping lift the stock. Bank of America extends winning streak…
• Positive Sentiment: Product traction: CashPro app usage rose ~20% and clients are authorizing large payment flows in real time — a sign of fee-generating commercial client engagement and digital product strength. CashPro App Usage Rises 20%…
• Positive Sentiment: Analyst upgrades / research credibility: HSBC recently upgraded BAC to Buy (PT $55) and other research activity highlights BofA’s role as a prominent sell‑side shop — supporting investor confidence. A Downgraded Target for Bank of America…
• Neutral Sentiment: Capital/debt action: BAC announced the redemption of $3.0B of 3.559% senior notes due April 2027 — straightforward liability management that modestly alters the debt schedule but is not a surprise. Bank of America Announces Redemption…
• Neutral Sentiment: Estimates and research: Erste Group nudged up FY2026/FY2027 EPS estimates for BAC — small upward revisions that support fundamentals heading into Q1 results (reporting April 15). Erste Group raises EPS estimates…
• Negative Sentiment: Mixed/trimmed price targets: Several banks (UBS, JPMorgan, Daiwa, Truist) have trimmed price targets recently (though many kept buy/overweight ratings), which can cap upside and increase short-term volatility. UBS adjusts price target on Bank of America…
• Negative Sentiment: Conflicting forecasts: Some outlets and firms issued pessimistic near‑term forecasts for BAC, adding noise to the tape and pressuring sentiment despite other supportive signals. Autonomous Res issues pessimistic forecast…

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.