Bank of America (NYSE:BAC) Trading 1.5% Higher – Here’s Why

Bank of America Corporation (NYSE:BAC)’s share price shot up 1.5% on Friday . The company traded as high as $56.19 and last traded at $55.9630. 29,913,733 shares traded hands during trading, a decline of 24% from the average session volume of 39,343,758 shares. The stock had previously closed at $55.16.

Key Bank of America News

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

• Positive Sentiment: Analysts and commentary highlighted BAC’s strong Q1 results, robust deposit base, and improving revenue prospects in markets and wealth management, supporting the case for continued momentum. Bank Of America (BAC) Stock Valuation After Strong Q1 Results And Upgraded Markets Revenue Outlook
• Positive Sentiment: Bank of America announced regular preferred-stock dividend declarations, reinforcing its capital-return profile and signaling balance-sheet stability. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Positive Sentiment: One report noted that Erste Group raised its FY2027 EPS estimate for BAC, suggesting some analysts see earnings power improving over time.
• Neutral Sentiment: BofA’s own market commentary warned investors that optimism is elevated and that an AI-driven bubble may be vulnerable, but these views are more about the broader market than BAC’s fundamentals. Bank of America Sends a Stark Warning on the S&P 500
• Negative Sentiment: A DOJ subpoena report tied BAC to a sweeping bank industry probe into customer account closures, which could create legal, regulatory, and reputational overhang. JPMorgan, Bank of America receive subpoena from DOJ
• Negative Sentiment: Another article argued BAC has been going sideways and lagging the S&P 500 over the past six months, which may temper enthusiasm despite recent gains. 3 Reasons to Sell BAC and 1 Stock to Buy Instead

Analysts Set New Price Targets

BAC has been the subject of several research analyst reports. Jefferies Financial Group boosted their price objective on shares of Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. UBS Group raised their target price on Bank of America from $62.00 to $63.00 in a report on Wednesday, May 6th. Daiwa Securities Group lifted their price target on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Autonomous Res dropped their price objective on Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Finally, HSBC lifted their target price on Bank of America from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus target price of $61.06.

Bank of America Stock Up 1.5%

The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s fifty day simple moving average is $52.16 and its two-hundred day simple moving average is $52.39. The stock has a market capitalization of $397.15 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 0.92 and a beta of 1.18.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same quarter in the previous year, the business earned $0.90 earnings per share. Bank of America’s revenue was up 10.7% compared to the same quarter last year. As a group, research analysts expect that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 2.0%. Bank of America’s payout ratio is presently 27.72%.

Insider Buying and Selling at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction dated Tuesday, May 5th. The stock was 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 owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

Institutional Trading of Bank of America

Several institutional investors have recently added to or reduced their stakes in the stock. Abound Financial LLC acquired a new position in shares of Bank of America in the 4th quarter worth approximately $26,000. Legacy Bridge LLC increased its position in shares of Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after buying an additional 330 shares during the period. Wiser Advisor Group LLC acquired a new stake in shares of Bank of America during the third quarter worth $27,000. CrossGen Wealth LLC bought a new position in Bank of America during the fourth quarter worth $30,000. Finally, Joseph Group Capital Management bought a new position in Bank of America during the fourth quarter worth $32,000. 70.71% of the stock is currently owned by institutional investors.

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.