Investment Analysts’ Recent Ratings Updates for Bank of America (BAC)

A number of firms have modified their ratings and price targets on shares of Bank of America (NYSE: BAC) recently:

• 1/17/2025 – Bank of America had its price target raised by analysts at Oppenheimer Holdings Inc. from $54.00 to $55.00. They now have an “outperform” rating on the stock.
• 1/17/2025 – Bank of America had its price target lowered by analysts at Evercore ISI from $53.00 to $51.00. They now have an “outperform” rating on the stock.
• 1/17/2025 – Bank of America had its price target lowered by analysts at Piper Sandler from $50.00 to $49.00. They now have a “neutral” rating on the stock.
• 1/17/2025 – Bank of America had its price target raised by analysts at Morgan Stanley from $54.00 to $56.00. They now have an “equal weight” rating on the stock.
• 1/17/2025 – Bank of America had its price target raised by analysts at Truist Financial Co. from $52.00 to $53.00. They now have a “buy” rating on the stock.
• 1/7/2025 – Bank of America was upgraded by analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating.
• 1/7/2025 – Bank of America was upgraded by analysts at HSBC Holdings plc from a “hold” rating to a “buy” rating. They now have a $50.00 price target on the stock.
• 1/7/2025 – Bank of America is now covered by analysts at Truist Financial Co.. They set a “buy” rating and a $52.00 price target on the stock.
• 1/7/2025 – Bank of America was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating. They now have a $53.00 price target on the stock, up previously from $43.00.
• 1/6/2025 – Bank of America had its price target raised by analysts at Barclays PLC from $53.00 to $58.00. They now have an “overweight” rating on the stock.
• 1/3/2025 – Bank of America had its price target lowered by analysts at Oppenheimer Holdings Inc. from $57.00 to $54.00. They now have an “outperform” rating on the stock.
• 12/9/2024 – Bank of America was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $55.00 price target on the stock, up previously from $48.00.

Bank of America Price Performance

Shares of NYSE:BAC traded up $0.11 during midday trading on Wednesday, hitting $46.82. The company’s stock had a trading volume of 5,697,507 shares, compared to its average volume of 35,361,105. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. The company has a market cap of $359.21 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The business’s 50 day simple moving average is $45.79 and its 200 day simple moving average is $42.82.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 earnings per share. On average, analysts forecast that Bank of America Co. will post 3.67 EPS for the current year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.22%. Bank of America’s dividend payout ratio is currently 32.30%.

Hedge Funds Weigh In On Bank of America

A number of hedge funds have recently made changes to their positions in BAC. Collier Financial acquired a new stake in shares of Bank of America during the fourth quarter worth approximately $25,000. Life Planning Partners Inc boosted its stake in Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 545,936 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Bank of America in the 3rd quarter worth $29,000. Highline Wealth Partners LLC lifted its holdings in shares of Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares during the period. Finally, Christopher J. Hasenberg Inc boosted its stake in Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.