TD Cowen Boosts Bank of America (NYSE:BAC) Price Target to $66.00

Bank of America (NYSE:BAC) had its price target lifted by equities researchers at TD Cowen from $64.00 to $66.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target suggests a potential upside of 17.80% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on BAC. Wolfe Research cut shares of Bank of America from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Citigroup increased their target price on Bank of America from $58.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Morgan Stanley lowered their target price on shares of Bank of America from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, December 12th. Argus raised their price target on Bank of America from $53.00 to $58.00 in a research note on Friday, October 17th. Finally, Phillip Securities increased their price objective on Bank of America from $50.00 to $56.00 in a research report on Tuesday, October 21st. Twenty-three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.82.

Bank of America Stock Performance

Shares of BAC stock traded down $1.22 during trading hours on Wednesday, hitting $56.03. The company’s stock had a trading volume of 15,800,128 shares, compared to its average volume of 26,985,078. The company has a 50 day moving average of $53.97 and a 200 day moving average of $50.84. The stock has a market cap of $409.13 billion, a PE ratio of 15.26 and a beta of 1.29. Bank of America has a 12-month low of $33.06 and a 12-month high of $57.55. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.13. The company had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $27.05 billion. Bank of America had a net margin of 15.70% and a return on equity of 10.76%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 earnings per share. On average, sell-side analysts forecast that Bank of America will post 3.7 EPS for the current fiscal year.

Institutional Trading of Bank of America

A number of institutional investors and hedge funds have recently made changes to their positions in BAC. Nova Wealth Management Inc. boosted its position in Bank of America by 75.2% during the 2nd quarter. Nova Wealth Management Inc. now owns 529 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 227 shares during the period. Quaker Wealth Management LLC boosted its stake in Bank of America by 246.5% in the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 880 shares during the period. Wiser Advisor Group LLC purchased a new position in shares of Bank of America during the third quarter valued at $27,000. RMG Wealth Management LLC purchased a new stake in shares of Bank of America in the second quarter worth approximately $28,000. Finally, Steph & Co. boosted its stake in shares of Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after buying an additional 379 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Bank of America

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

• Positive Sentiment: Several brokerages raised BAC price targets or upgraded the stock this week, supporting upside sentiment and setting a higher valuation reference for investors. Bank of America price target raised to $64 from $58 at Goldman Sachs JPMorgan adjusts price target on Bank of America to $61 Wells Fargo Increases Bank of America Price Target to $65
• Positive Sentiment: Market reaction to recent analyst upgrades briefly pushed BAC to a 12‑month high and added momentum ahead of earnings. Bank of America Hits New 12-Month High Following Analyst Upgrade
• Neutral Sentiment: Bank of America confirmed it will report Q4 2025 results and host an investor call on January 14 — a key event that should drive near-term volatility as investors reposition ahead of the print. Bank of America to Report Fourth Quarter 2025 Financial Results and Host Investor Conference Call on January 14
• Neutral Sentiment: Bank of America’s research teams remain active with sector and stock recommendations (dividend/top-ideas lists, analyst notes across healthcare, energy, etc.), which sustain engagement but have mixed impacts on BAC itself. Bank of America Out With Q1 2026 Top US Ideas Dividend Picks
• Negative Sentiment: A Zacks preview argues BAC “doesn’t possess the right combination” of factors to deliver an earnings beat in the upcoming report, which can prompt conservative positioning and selling pressure ahead of the release. Bank of America (BAC) Earnings Expected to Grow: Should You Buy?

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.