Bank of America (NYSE:BAC) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Bank of America (NYSE:BAC) in a research report sent to investors on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $60.00 target price on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Evercore set a $59.00 price objective on Bank of America in a report on Thursday, January 15th. Daiwa Securities Group reduced their price objective on Bank of America from $66.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. Keefe, Bruyette & Woods lowered their target price on Bank of America from $64.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. Finally, Wolfe Research downgraded Bank of America from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.67.

Bank of America Trading Down 2.5%

BAC opened at $47.01 on Thursday. The company has a market cap of $335.93 billion, a P/E ratio of 12.27, a PEG ratio of 1.14 and a beta of 1.28. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The company’s 50 day moving average is $51.03 and its 200-day moving average is $52.27. Bank of America has a 1-year low of $33.06 and a 1-year high of $57.55.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. Equities research analysts predict that Bank of America will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were given a $0.28 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.4%. Bank of America’s payout ratio is 29.24%.

Insider Activity

In related news, insider Thomas M. Scrivener sold 50,000 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the transaction, the insider owned 227,973 shares in the company, valued at $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 directly owned 307,240 shares in the company, valued at $15,362,000. This trade represents a 21.44% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, 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 Inflows and Outflows

Several hedge funds have recently made changes to their positions in BAC. Brighton Jones LLC boosted its position in shares of Bank of America by 30.0% during the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after purchasing an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Bank of America by 40.5% in the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after purchasing an additional 6,174 shares in the last quarter. Richmond Investment Services LLC acquired a new position in Bank of America in the second quarter valued at approximately $275,000. Country Trust Bank lifted its stake in Bank of America by 200.4% in the second quarter. Country Trust Bank now owns 1,430 shares of the financial services provider’s stock valued at $68,000 after buying an additional 954 shares during the period. Finally, Vinva Investment Management Ltd boosted its holdings in shares of Bank of America by 44.6% during the 2nd quarter. Vinva Investment Management Ltd now owns 499,327 shares of the financial services provider’s stock worth $23,528,000 after buying an additional 153,993 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America News Roundup

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

• Positive Sentiment: Jefferies initiated coverage with a “Buy” and $60 price target, adding fresh bullish analyst support and suggesting ~27% upside from current levels. Read
• Positive Sentiment: Bank of America formed a Private Capital M&A group to advise private equity exits — a strategic move that can expand fee pools for the investment bank and help offset pressure in other areas. Article
• Positive Sentiment: Merrill and Bank of America Private Bank rolled out an AI‑Powered Meeting Journey to save advisors time and improve client workflows — a productivity/retention leaver for wealth management revenue. Press Release
• Neutral Sentiment: Corporate/social partnership: Watson Links and Bank of America expanded youth golf access — positive PR but limited near‑term revenue impact. PR
• Neutral Sentiment: Bank of America Securities continues active research coverage and reiterations on other companies (AstraZeneca, Arrowhead, Wave, etc.), highlighting the firm’s research franchise but with limited direct impact on BAC stock. Research Note
• Negative Sentiment: Oppenheimer cut its price target from $63 to $58 (still “Outperform”) — the lower target reduces upside expectations and can pressure the stock. Article
• Negative Sentiment: Goldman Sachs lowered its price target to $57 earlier this week — another analyst trim hitting sentiment after recent highs. Article
• Negative Sentiment: Coverage noted Bank of America “balances” costs from an Epstein settlement while advancing AI advisor tools — ongoing legal/settlement headlines can create headline risk and investor caution. Article

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.