Bank of America (NYSE:BAC) Shares Up 2.9% Following Analyst Upgrade

Shares of Bank of America Corporation (NYSE:BAC) rose 2.9% on Friday after HSBC raised their price target on the stock from $55.00 to $57.00. HSBC currently has a hold rating on the stock. Bank of America traded as high as $56.87 and last traded at $56.54. Approximately 41,147,997 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 39,874,672 shares. The stock had previously closed at $54.94.

A number of other brokerages have also recently commented on BAC. Truist Financial lowered their target price on Bank of America from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 15th. Robert W. Baird increased their price objective on Bank of America from $52.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Dbs Bank raised shares of Bank of America to a “moderate buy” rating in a research note on Wednesday, October 22nd. Barclays raised their price target on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Finally, Daiwa Securities Group reduced their price objective on shares of Bank of America from $66.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.30.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Wall Street peers and BAC are boosting bonus pools by at least 10%, a market signal that investment‑banking and markets revenue was strong in 2025 — this supports investor confidence in BAC’s profitability and retention. JPMorgan, Goldman, Bank of America Boost Bonus Pools by at Least 10%
• Positive Sentiment: Reports that BofA plans to revamp credit‑card offerings and is leveraging AI to boost consumer profit have investors expecting higher card revenue and improved margins over time. Product revamps + steady dividends are a clear near‑term positive for bank earnings outlook. Bank of America to revamp credit cards to fuel consumer profit – report
• Positive Sentiment: HSBC nudged its BAC price target up to $57 from $55 (hold), a modest analyst backing that removes some near‑term downside uncertainty. HSBC adjusts price target on Bank of America to $57 from $55; maintains hold rating
• Neutral Sentiment: BofA announced full redemption of its Series DD preferred stock — a corporate capital action that simplifies the capital structure; impact depends on how the redemption is funded and future capital allocation. Bank of America Announces Full Redemption of Its Series DD Preferred Stock and Related Depositary Shares
• Neutral Sentiment: Strategist Michael Hartnett’s “Main Street over Davos” theme and calls to favor midcaps reflect positioning advice from BofA Research; useful for market positioning but not an immediate earnings catalyst for BAC itself. ‘Stay Long Detroit, Short Davos’: Why BofA’s Hartnett Sees A Main Street Boom Ahead Of The Midterms
• Negative Sentiment: BofA Institute flagged that middle‑class wage growth is stalling — a potential headwind for consumer spending, card volumes and loan performance if the trend persists. Bank of America Warns Middle Class Wages Are Stalling
• Negative Sentiment: BofA’s market strategist also warns that a two‑decade high in its “bull and bear” indicator could signal a market peak — an elevated macro risk that could pressure bank shares if broader risk appetite falls. Two‑decade high for Bank of America’s ‘bull and bear’ indicator points to stock‑market peak, strategist says

Institutional Trading of Bank of America

Several institutional investors have recently made changes to their positions in BAC. Quaker Wealth Management LLC increased its stake in Bank of America by 246.5% during the second quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 880 shares during the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Bank of America in the 3rd quarter valued at about $27,000. Steph & Co. grew its holdings in shares of Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 379 shares during the period. Legacy Bridge LLC grew its holdings in shares of Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 330 shares during the period. Finally, CGC Financial Services LLC increased its position in Bank of America by 585.4% during the 2nd quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 521 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Price Performance

The stock has a market cap of $412.88 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The company’s fifty day moving average is $54.38 and its 200 day moving average is $51.84.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. Bank of America’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.12 annualized dividend and a yield of 2.0%. Bank of America’s dividend payout ratio (DPR) is 29.24%.

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.