Bank of America (NYSE:BAC) Shares Up 1.3% – Here’s What Happened

Bank of America Corporation (NYSE:BAC) traded up 1.3% during mid-day trading on Wednesday . The company traded as high as $64.95 and last traded at $64.82. Approximately 27,310,732 shares traded hands during trading, a decline of 28% from the average daily volume of 37,752,070 shares. The stock had previously closed at $64.00.

Bank of America News Summary

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

• Positive Sentiment: Strategic India expansion: Bank of America agreed to acquire up to a 49.9% stake in Jio Credit, initially taking approximately 26.5%, in a deal valued at about $1.9 billion. The partnership with Jio Financial Services could give BAC access to India’s rapidly growing digital lending market and broaden its long-term growth profile. Bank of America to acquire 49.9% of India’s Jio Credit
• Positive Sentiment: $250 billion infrastructure financing initiative: BAC plans to deploy up to $250 billion by July 2027 toward U.S. digital and critical infrastructure projects, including data centers, power grids and pipelines. The initiative could generate additional lending, advisory and investment-banking revenue as AI-related infrastructure spending accelerates. Can Bank of America’s $250B Bet Pay Off?
• Positive Sentiment: Improved earnings outlook and valuation support: An analyst raised the fiscal 2026 EPS estimate for Bank of America. Separately, valuation analysis described BAC as potentially undervalued despite its strong three-year gain, supporting the view that the shares may still have upside if earnings continue to improve. FY2026 EPS Estimate for Bank of America Boosted by Analyst
• Neutral Sentiment: Interest-rate outlook remains mixed: A Bank of America economist continues to forecast three Federal Reserve rate hikes, arguing that inflationary pressure remains unresolved. Higher rates can support BAC’s net interest income, but prolonged tightening could weaken loan demand and increase economic and credit risks. BofA Exec Still Calls For 3 Fed Rate Hikes After July CPI
• Neutral Sentiment: Portfolio and research activity: Bank of America disclosed changes in stakes in several Turkish companies and continued publishing bullish research on AI and semiconductor markets. These actions demonstrate ongoing capital-markets activity but are unlikely to materially affect BAC’s near-term earnings or stock valuation.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price target on shares of Bank of America in a research note on Tuesday, July 14th. Evercore set a $63.00 price objective on Bank of America and gave the stock an “outperform” rating in a report on Monday, July 6th. The Goldman Sachs Group upped 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. Robert W. Baird increased their target price on Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada lifted their price target on Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and an average price target of $64.08.

Bank of America Stock Up 0.6%

The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The firm has a market cap of $450.99 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.03 and a beta of 1.17. The firm’s 50 day simple moving average is $59.56 and its two-hundred day simple moving average is $54.23.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm had revenue of $31.56 billion for the quarter, compared to analyst estimates of $30.78 billion. During the same quarter in the prior year, the business posted $0.89 EPS. The business’s revenue was up 19.6% compared to the same quarter last year. On average, equities analysts forecast that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.32 per share. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a yield of 2.0%. Bank of America’s dividend payout ratio is 29.36%.

Institutional Trading of Bank of America

A number of institutional investors have recently modified their holdings of BAC. Turim 21 Investimentos Ltda. acquired a new stake in Bank of America during the second quarter worth about $25,000. Abound Financial LLC acquired a new position in shares of Bank of America in the 4th quarter valued at approximately $26,000. Wiser Advisor Group LLC acquired a new position in shares of Bank of America in the 3rd quarter valued at approximately $27,000. CrossGen Wealth LLC bought a new stake in shares of Bank of America during the 4th quarter worth approximately $30,000. Finally, Joseph Group Capital Management bought a new stake in shares of Bank of America during the 4th quarter worth approximately $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.