Wells Fargo & Company Increases Bank of America (NYSE:BAC) Price Target to $65.00

Bank of America (NYSE:BAC) had its price target lifted by analysts at Wells Fargo & Company from $62.00 to $65.00 in a research report issued on Monday,MarketScreener reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 13.56% from the stock’s previous close.

BAC has been the topic of a number of other research reports. Argus increased their price target on shares of Bank of America from $53.00 to $58.00 in a research note on Friday, October 17th. Daiwa Capital Markets increased their target price on Bank of America from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Erste Group Bank upgraded Bank of America from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Dbs Bank upgraded Bank of America to a “moderate buy” rating in a research note on Wednesday, October 22nd. Finally, Wolfe Research lifted their price objective on Bank of America from $57.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Twenty-three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.86.

Bank of America Stock Up 0.6%

Shares of NYSE BAC opened at $57.24 on Monday. The stock has a market cap of $417.97 billion, a PE ratio of 15.60 and a beta of 1.29. 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 has a 12-month low of $33.06 and a 12-month high of $57.55. The company has a 50-day moving average of $53.97 and a 200 day moving average of $50.84.

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

Institutional Trading of Bank of America

Several institutional investors have recently modified their holdings of BAC. Sage Capital Advisors llc grew its stake in Bank of America by 4.0% during the fourth quarter. Sage Capital Advisors llc now owns 10,030 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 386 shares during the period. RDA Financial Network grew its position in shares of Bank of America by 1.5% during the 4th quarter. RDA Financial Network now owns 17,055 shares of the financial services provider’s stock worth $938,000 after buying an additional 247 shares during the period. General Partner Inc. grew its position in shares of Bank of America by 45.1% during the 4th quarter. General Partner Inc. now owns 15,866 shares of the financial services provider’s stock worth $873,000 after buying an additional 4,929 shares during the period. Doliver Advisors LP increased its stake in shares of Bank of America by 20.9% in the 4th quarter. Doliver Advisors LP now owns 15,276 shares of the financial services provider’s stock valued at $840,000 after acquiring an additional 2,640 shares in the last quarter. Finally, Canal Capital Management LLC lifted its position in shares of Bank of America by 7.2% during the 4th quarter. Canal Capital Management LLC now owns 4,723 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 319 shares during the period. Institutional investors own 70.71% of the company’s stock.

More Bank of America News

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

• Positive Sentiment: Multiple banks raised price targets and kept overweight/positive ratings, lifting sentiment and giving investors upside targets. Links: Read More., Read More., Read More.
• Positive Sentiment: Product/coverage expansion: BofA is allowing advisers to recommend Bitcoin ETFs — a move that can generate new fee income and attract client flows if adoption ramps. Read More.
• Positive Sentiment: Fundamentals: BAC’s most recent quarter beat EPS expectations and showed revenue growth and solid ROE, supporting valuation multiple expansion vs. regional peers. (Earnings detail from recent filings and consensus estimates.)
• Neutral Sentiment: Options and flow: Recent coverage highlights elevated options activity and moderately bullish positioning in BAC options — this can amplify intraday moves but is not a fundamental change. Read More.
• Neutral Sentiment: Research output: BofA analysts remain active with sector calls (airlines, healthcare, energy names) and public commentary (e.g., on SoFi M&A prospects). These notes drive market attention but are indirect for BAC equity performance. Read More., Read More.

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.