Bank of America (NYSE:BAC) Sets New 12-Month High – Time to Buy?

Bank of America Corporation (NYSE:BAC)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $58.01 and last traded at $57.97, with a volume of 29775488 shares. The stock had previously closed at $57.37.

Key Stories Impacting Bank of America

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

• Positive Sentiment: BofA’s latest homebuyer survey found that 53% of respondents now favor buying a home over renting or moving in with family, the first majority preference since 2023. That could support Bank of America’s mortgage, consumer banking, and loan-demand outlook if housing activity improves. Article Title
• Positive Sentiment: BofA also raised its year-end view on Japanese equities, saying the Nikkei still has room to run in 2026. Calls like this reinforce the bank’s credibility as a global markets strategist and may be viewed favorably by investors. Article Title
• Positive Sentiment: BofA’s semiconductors team said AI could create another $1 trillion opportunity for chip stocks, a bullish message for a key growth area in capital markets and wealth-management client activity. Article Title
• Neutral Sentiment: The bank sharply shifted its Fed forecast, now expecting three rate hikes in 2026 and no rate cuts until 2028. This is a meaningful macro call, but its direct impact on BAC is mixed because higher rates can help net interest income while also increasing credit and funding concerns. Article Title
• Neutral Sentiment: Additional coverage highlighted BAC as a value stock candidate and noted Berkshire Hathaway’s long-term support, which may remind investors of the bank’s lower valuation versus peers, but does not appear to be a fresh catalyst. Article Title
• Negative Sentiment: BofA’s more hawkish inflation view implies the Federal Reserve may keep policy restrictive longer, which could pressure credit demand, borrowing activity, and economic growth if rates stay elevated. Article Title

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $59.00 target price on shares of Bank of America in a research report on Thursday, April 16th. Morgan Stanley decreased their price objective on Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Autonomous Res lowered their price objective on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Keefe, Bruyette & Woods raised their target price on shares of Bank of America from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Finally, Truist Financial boosted their price target on shares of Bank of America from $57.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.23.

Bank of America Price Performance

The stock has a fifty day moving average price of $53.00 and a 200-day moving average price of $52.56. The firm has a market capitalization of $411.39 billion, a PE ratio of 14.35, a P/E/G ratio of 0.95 and a beta of 1.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The firm had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. During the same period in the prior year, the business posted $0.90 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Sell-side analysts forecast that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, June 5th. Bank of America’s payout ratio is 27.72%.

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the sale, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by insiders.

Institutional Trading of Bank of America

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Abound Financial LLC acquired a new stake in Bank of America in the fourth quarter worth about $26,000. Legacy Bridge LLC raised its position in shares of Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 330 shares during the last quarter. Wiser Advisor Group LLC purchased a new position in shares of Bank of America in the 3rd quarter valued at approximately $27,000. CrossGen Wealth LLC acquired a new stake in Bank of America in the 4th quarter worth approximately $30,000. Finally, Joseph Group Capital Management purchased a new stake in Bank of America during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

About Bank of America

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.