Bank of America (NYSE:BAC) Price Target Raised to $68.00

Bank of America (NYSE:BAC) had its price target increased by JPMorgan Chase & Co. from $62.50 to $68.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also commented on BAC. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price target on shares of Bank of America in a research report on Tuesday, July 14th. HSBC raised their price target on Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Morgan Stanley raised their target price on shares of Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Finally, Citigroup lifted their price target on shares of Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $64.00.

Bank of America Trading Up 0.6%

BAC stock opened at $62.07 on Wednesday. Bank of America has a fifty-two week low of $44.75 and a fifty-two week high of $62.99. The firm has a market cap of $440.51 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The firm has a fifty day moving average price of $57.49 and a 200 day moving average price of $53.55. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83.

Bank of America Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, September 4th. Bank of America’s dividend payout ratio is 25.69%.

Insider Buying and Selling at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction 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. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bank of America

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Midland Wealth Advisors LLC lifted its holdings in shares of Bank of America by 4.6% in the 2nd quarter. Midland Wealth Advisors LLC now owns 12,232 shares of the financial services provider’s stock worth $697,000 after buying an additional 533 shares during the period. Sunpointe LLC increased its stake in shares of Bank of America by 101.2% during the second quarter. Sunpointe LLC now owns 30,312 shares of the financial services provider’s stock valued at $1,727,000 after buying an additional 15,244 shares during the period. Udine Wealth Management Inc. raised its holdings in shares of Bank of America by 1.6% in the second quarter. Udine Wealth Management Inc. now owns 232,035 shares of the financial services provider’s stock valued at $13,221,000 after acquiring an additional 3,587 shares in the last quarter. Quaker Wealth Management LLC lifted its stake in Bank of America by 100.0% in the second quarter. Quaker Wealth Management LLC now owns 1,052 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 526 shares during the period. Finally, Bogart Wealth LLC grew its holdings in Bank of America by 15.2% during the 2nd quarter. Bogart Wealth LLC now owns 3,228 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 425 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Analysts raised their outlook for BAC. JPMorgan reportedly expects Bank of America’s stock price to rise, while another analyst increased the FY2026 earnings-per-share estimate. These revisions reinforce expectations for stronger profitability and support the stock’s valuation. Bank of America stock price expected to rise FY2026 EPS estimate increased
• Positive Sentiment: Cybersecurity acquisition strengthens operational defenses. Bank of America plans to acquire U.K.-based information-security consultancy MDSec Consulting, subject to regulatory approval and expected to close in the fourth quarter of 2026. The deal is intended to bolster defenses against increasingly sophisticated AI-driven cyberattacks and ransomware. Financial terms were not disclosed, limiting the immediate earnings impact. Bank of America buys cybersecurity firm
• Positive Sentiment: Merrill Lynch is adding a sizable wealth-management team. A 14-person team managing approximately $13 billion in client assets is moving from Morgan Stanley’s Graystone Consulting. The recruitment could expand Merrill’s fee-based wealth-management revenue and deepen its affluent-client franchise. Merrill Lynch recruits $13 billion team
• Neutral Sentiment: Higher-for-longer interest rates present both benefits and risks. A hawkish Federal Reserve pause may support Bank of America’s net interest income, but prolonged high rates can pressure loan demand and increase credit-quality concerns. The broader market is also entering an uncertain August trading period, which could amplify volatility.
• Neutral Sentiment: Valuation remains a focus after substantial gains. One analysis says BAC still appears reasonably valued or discounted despite having more than doubled over three years. The stock is above both its 50-day and 200-day moving averages and near its annual high, suggesting strong momentum but also leaving shares more sensitive to disappointing results or guidance. Bank of America valuation and AI expansion

Bank of America Company Profile

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.