Brokerages Set Bank of America Corporation (NYSE:BAC) Price Target at $60.30

Bank of America Corporation (NYSE:BAC) has received an average recommendation of “Moderate Buy” from the twenty-six analysts that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $60.3043.

Several equities research analysts have commented on the company. Barclays boosted their target price on Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. HSBC boosted their price objective on shares of Bank of America from $55.00 to $57.00 and gave the stock a “hold” rating in a research report on Friday, February 6th. Keefe, Bruyette & Woods reduced their target price on shares of Bank of America from $64.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. Argus lifted their price target on shares of Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, Evercore set a $59.00 price objective on shares of Bank of America in a research note on Thursday, January 15th.

Institutional Investors Weigh In On Bank of America

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC lifted its stake in Bank of America by 30.0% in 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 during the last quarter. Sivia Capital Partners LLC raised its stake 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 valued at $1,013,000 after buying an additional 6,174 shares during the period. Nicholson Wealth Management Group LLC bought a new stake in Bank of America in the second quarter valued at approximately $229,000. Kanawha Capital Management LLC lifted its position in shares of Bank of America by 5.7% in the second quarter. Kanawha Capital Management LLC now owns 21,293 shares of the financial services provider’s stock valued at $1,008,000 after buying an additional 1,143 shares during the last quarter. Finally, Curbstone Financial Management Corp boosted its stake in shares of Bank of America by 15.4% during the 2nd quarter. Curbstone Financial Management Corp now owns 28,512 shares of the financial services provider’s stock worth $1,349,000 after acquiring an additional 3,808 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Up 0.2%

Shares of BAC stock opened at $52.67 on Friday. The company has a market capitalization of $384.62 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 1.28 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 firm has a fifty day moving average of $54.38 and a 200-day moving average of $52.16. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15.

Bank of America (NYSE:BAC) last released its earnings results 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 firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. As a group, 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 business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is currently 29.24%.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Analysts and retail coverage are flagging BAC as undervalued after recent earnings beats and improved returns, supporting upside for the stock based on fundamentals and relative valuation. Assessing Bank Of America (BAC) Valuation As Recent Returns Show Mixed Momentum
• Positive Sentiment: Bank of America disclosed it raised its stake in biopharma Galapagos above the 5% transparency threshold, signaling active portfolio moves that could generate non-interest income or mark-to-market gains. Bank of America Lifts Stake in Galapagos Above 5% Transparency Threshold
• Neutral Sentiment: BofA’s widely watched fund manager survey shows record-high investor worry about corporate capex and extreme bearish positioning on the U.S. dollar—research that influences markets but is not an immediate earnings driver for BAC itself. BofA Survey Shows Investor Worry Over Capex Race at Record High
• Neutral Sentiment: BofA and market commentators warn AI adoption could create winners and losers among banks—an industry-level risk/opportunity that could affect BAC’s cost structure and competitive position over the medium term. AI Could Make Or Break Wall Street Banks, Experts Warn
• Negative Sentiment: Warren Buffett’s Berkshire Hathaway trimmed its position in Bank of America in the latest quarter, which can put downward pressure on the stock and signal a large, patient investor reducing exposure. Berkshire Pares Stakes in Apple and BofA, Adds New York Times Position
• Negative Sentiment: CEO Brian Moynihan’s compensation rose following stronger results—positive for retention but potentially a governance/headline risk that can attract investor scrutiny around pay-for-performance. Bank of America CEO Brian Moynihan sees compensation rise following earnings growth

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.