Bank of America Corporation (NYSE:BAC) Stock Has Consensus Target Price of $62.82

Bank of America Corporation (NYSE:BAC) has received a consensus rating of “Moderate Buy” from the twenty-five ratings firms that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $62.82.

Several research firms have weighed in on BAC. Evercore set a $62.00 price target on Bank of America in a research report on Thursday, October 1st. UBS Group cut their price target on Bank of America from $70.00 to $67.00 and set a “buy” rating for the company in a report on Monday, October 5th. Phillip Securities upgraded Bank of America to a “strong-buy” rating in a research report on Friday, October 16th. Royal Bank Of Canada decreased their price objective on Bank of America from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Finally, Morgan Stanley dropped their price objective on Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, October 15th.

Institutional Investors Weigh In On Bank of America

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in Bank of America during the second quarter worth approximately $2,571,060,000. Amundi raised its holdings in Bank of America by 12.5% in the 1st quarter. Amundi now owns 42,385,115 shares of the financial services provider’s stock valued at $2,066,274,000 after acquiring an additional 4,721,969 shares during the last quarter. Deutsche Bank AG acquired a new position in Bank of America in the 2nd quarter valued at $2,359,172,000. Bank of New York Mellon Corp purchased a new position in shares of Bank of America during the 2nd quarter worth $2,313,953,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Bank of America by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider’s stock worth $1,517,599,000 after purchasing an additional 561,413 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America declared a quarterly dividend of $0.32 per share, or $1.28 annualized, representing a yield of approximately 2.5%. The payout provides ongoing income support for shareholders. Bank of America dividend report
• Positive Sentiment: Brokerages’ average price target remains above the current trading range at approximately $62.82, suggesting analysts still see potential upside despite recent target reductions. Bank of America average price target
• Neutral Sentiment: Bank of America issued 80,000 shares of new 7.200% Series WW preferred stock. The transaction can strengthen regulatory capital, although the high fixed dividend creates an additional funding cost. Bank of America issues Series WW preferred stock
• Neutral Sentiment: The company appointed Jim Fitterling and Bill Thomas to its board, expanding it from 12 to 14 directors. The appointments may improve oversight, but investors have not yet been given a clear financial impact. Bank of America board appointments
• Negative Sentiment: Multiple law firms are promoting securities-fraud class actions covering investors who purchased BAC securities between August 1, 2025 and October 13, 2026. The lead-plaintiff deadline is December 15, 2026, increasing headline and potential financial risk. Bank of America securities class action
• Negative Sentiment: Analysts cut Bank of America’s FY2026 EPS estimate to $4.35 from $4.55 and FY2027 estimate to $5.15 from $5.22. A separate valuation update reduced fair value to $63.14 from $67.33, reflecting concerns about regulatory penalties and earnings assumptions. Bank of America fair value estimate
• Negative Sentiment: Recent earnings fell short of expectations, with EPS of $1.08 versus $1.10 expected and revenue of $29.96 billion versus a $30.58 billion forecast. More than $1.2 billion in anti-money-laundering penalties and renewed questions about CEO Brian Moynihan’s future are adding to investor uncertainty.

Bank of America Trading Up 0.1%

Shares of BAC opened at $50.59 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $57.70 and a 200-day simple moving average of $56.80. Bank of America has a 1-year low of $46.12 and a 1-year high of $65.22. The stock has a market cap of $353.78 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.02). Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The company had revenue of $29.96 billion for the quarter, compared to analyst estimates of $30.58 billion. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts forecast that Bank of America will post 4.52 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Friday, December 4th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, December 4th. Bank of America’s dividend payout ratio is 30.40%.

Bank of America Company Profile

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.