Bank of America (NYSE:BAC) Research Coverage Started at HSBC

HSBC assumed coverage on shares of Bank of America (NYSE:BAC) in a report issued on Monday, Marketbeat reports. The brokerage issued a buy rating and a $65.00 price objective on the financial services provider’s stock.

Several other research firms also recently issued reports on BAC. Citigroup upped their price objective on Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. UBS Group raised their price objective on shares of Bank of America from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Argus set a $70.00 target price on shares of Bank of America in a research report on Wednesday, July 15th. Robert W. Baird increased their price target on Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Barclays raised their price target on Bank of America from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Twenty equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and an average price target of $64.35.

Bank of America Trading Down 0.9%

BAC opened at $54.47 on Monday. Bank of America has a 1-year low of $46.12 and a 1-year high of $65.22. The stock has a market capitalization of $380.91 billion, a PE ratio of 12.49, a PEG ratio of 0.88 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average price of $61.21 and a two-hundred day moving average price of $56.25.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company had revenue of $31.56 billion for the quarter, compared to analyst estimates of $30.78 billion. During the same period in the prior year, the business earned $0.89 earnings per share. Bank of America’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, equities analysts anticipate that Bank of America will post 4.66 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, September 4th. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s dividend payout ratio is 29.36%.

Hedge Funds Weigh In On Bank of America

Several hedge funds and other institutional investors have recently made changes to their positions in BAC. Turim 21 Investimentos Ltda. acquired a new position in shares of Bank of America during the 2nd quarter worth about $25,000. Abound Financial LLC acquired a new position in Bank of America during the fourth quarter worth approximately $26,000. Cherry Tree Wealth Management LLC increased its position in Bank of America by 167.6% during the second quarter. Cherry Tree Wealth Management LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after buying an additional 300 shares during the last quarter. Principia Wealth Advisory LLC raised its stake in Bank of America by 69.9% in the second quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock valued at $30,000 after buying an additional 218 shares during the period. Finally, Frazier Financial Advisors LLC bought a new stake in Bank of America in the second quarter valued at approximately $34,000. 70.71% of the stock is owned by institutional investors.

Bank of America News Summary

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

• Positive Sentiment: Bank of America’s corporate payments franchise continues to expand. Real-time payment transaction volume rose 48%, while transactions above $1 million increased 351%, signaling growing demand for the bank’s liquidity-management and business-payment services. BofA Clients Accelerate RTP Use
• Positive Sentiment: The bank will report third-quarter 2026 results on October 14. Recent expectations call for double-digit earnings growth, following its previous quarterly beat, when revenue rose 19.6% year over year and EPS exceeded consensus estimates. Bank of America to Report Third Quarter Results
• Neutral Sentiment: Bank of America is hosting its annual technology innovation summit on October 7, bringing together more than 500 technology companies, investors and bank executives. The event could support future partnerships and investment-banking opportunities, but it is not expected to have an immediate earnings impact. Bank of America Technology Innovation Summit
• Neutral Sentiment: Bank of America’s research remains constructive on financial stocks and the company continues to receive favorable analyst coverage. However, broader concerns about rising bond yields and market volatility may be limiting investor appetite for bank shares.
• Negative Sentiment: Merrill Lynch will pay $39 million to settle claims that brokerage customers received near-zero interest on idle cash in retirement accounts instead of market rates. The settlement is manageable relative to Bank of America’s size, but it adds legal and reputational pressure and highlights scrutiny of customer cash practices. Bank of America Merrill Lynch Customer Settlement

Bank of America Company Profile

Bank of America Corporation (NYSE:BAC) is a diversified financial services company serving individual consumers, small businesses, middle-market companies and large corporations. Its principal businesses include consumer banking, wealth and investment management, commercial banking, corporate and investment banking, and sales and trading.

Through its banking and financial services businesses, the company offers deposit accounts, credit cards, mortgages, home equity products, consumer and business loans, payment services, treasury management, brokerage services and investment advice.