Bank of America Corporation (NYSE:BAC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Bank of America Corporation (NYSE:BAC) have been given an average recommendation of “Moderate Buy” by the twenty-seven research firms that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $61.3542.

Several research analysts have weighed in on BAC shares. Jefferies Financial Group upped their price target on Bank of America from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Oppenheimer upped their price target on Bank of America from $58.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research note on Friday, April 24th. The Goldman Sachs Group increased their target price on Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Morgan Stanley lowered their target price on Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st.

Bank of America News Summary

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

• Positive Sentiment: Citi raised its price target on Bank of America and kept a Buy rating, citing expectations for strong second-quarter results and reinforcing the view that BAC can deliver solid earnings growth. Bank of America (BAC) – Among the Top 10 Blue Chip Stocks with Growing Dividends
• Positive Sentiment: Barclays reaffirmed its Buy rating on BAC, adding to the bullish analyst backdrop and suggesting Wall Street still sees room for upside. Barclays Reaffirms Their Buy Rating on Bank of America (BAC)
• Positive Sentiment: Bank of America’s own research highlighted AI-driven semiconductor demand, projecting an additional $1 trillion in chip sales over five years, which supports a more constructive macro outlook for markets tied to technology spending and capital formation. BofA Sees AI Driving the Next $1 Trillion in Semiconductor Revenue
• Positive Sentiment: Reports that major banks passed the Fed stress test again and showed capital resilience may lift sentiment toward large money-center banks like BAC by reinforcing dividend and buyback flexibility. Fed Stress Test: JPM & Other Big Banks Pass Again, Show Resilience
• Neutral Sentiment: Other BofA commentary focused on housing trends, small- and mid-cap preferences, and wealthy-investor behavior, but these items are more market-color than direct catalysts for BAC shares. Bank of America sees major housing shift despite high mortgage rates
• Negative Sentiment: Bank of America also warned that the risk of a market correction is rising, a cautious tone that can temper enthusiasm for financial stocks even when fundamentals remain solid. Bank of America (BAC) Says Risks of a Market Correction Are Rising

Bank of America Trading Down 0.5%

Bank of America stock opened at $57.92 on Friday. The firm has a 50 day moving average of $53.36 and a 200 day moving average of $52.68. The firm has a market capitalization of $411.06 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 0.98 and a beta of 1.18. Bank of America has a 12-month low of $44.75 and a 12-month high of $59.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. The company had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. As a group, research analysts predict that Bank of America will post 4.47 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a $0.28 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. Bank of America’s dividend payout ratio (DPR) is currently 27.72%.

Insider Transactions at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction on 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 directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Bank of America

Hedge funds and other institutional investors have recently bought and sold shares of the business. Abound Financial LLC purchased a new stake in Bank of America in the fourth quarter worth $26,000. Legacy Bridge LLC boosted its position in Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 330 shares in the last quarter. Wiser Advisor Group LLC bought a new stake in Bank of America during the third quarter valued at about $27,000. CrossGen Wealth LLC bought a new stake in Bank of America during the fourth quarter valued at about $30,000. Finally, Joseph Group Capital Management acquired a new stake in Bank of America in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

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.