Bank of America (NYSE:BAC) Price Target Raised to $65.00 at Truist Financial

Bank of America (NYSE:BAC) had its target price hoisted by Truist Financial from $64.00 to $65.00 in a report issued on Wednesday morning, MarketBeat reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts have also issued reports on the stock. Evercore set a $63.00 target price on shares of Bank of America and gave the stock an “outperform” rating in a report on Monday, July 6th. Wells Fargo & Company raised their price objective on Bank of America from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup raised their price target on Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. The Goldman Sachs Group lifted their price target on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $75.00 price target on shares of Bank of America in a research note on Tuesday. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.77.

Bank of America Stock Performance

NYSE:BAC opened at $61.62 on Wednesday. The stock has a market cap of $437.31 billion, a P/E ratio of 14.13, a PEG ratio of 1.01 and a beta of 1.17. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. Bank of America has a twelve month low of $44.75 and a twelve month high of $62.03. The business’s 50-day moving average price is $54.93 and its two-hundred day moving average price is $53.05.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $30.78 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. As a group, equities analysts predict that Bank of America will post 4.51 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, June 5th. Bank of America’s dividend payout ratio is 27.72%.

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Bank of America

Institutional investors have recently bought and sold shares of the company. Abound Financial LLC purchased a new stake in Bank of America in the 4th quarter valued at approximately $26,000. Legacy Bridge LLC increased its holdings in Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 330 shares in the last quarter. Wiser Advisor Group LLC acquired a new stake in shares of Bank of America during the third quarter valued at $27,000. CrossGen Wealth LLC acquired a new stake in Bank of America during the fourth quarter worth approximately $30,000. Finally, Joseph Group Capital Management purchased a new position in shares of Bank of America during the 4th quarter worth $32,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America beat Q2 expectations, with EPS of $1.21 topping estimates and revenue rising sharply year over year, helped by stronger net interest income, trading, and investment banking. Bank of America Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Analysts raised targets after the earnings release, including Truist, KBW, Barclays, and Wells Fargo, signaling growing confidence in BAC’s earnings outlook and potential upside. These Analysts Boost Their Forecasts On Bank of America Following Upbeat Q2 Results
• Positive Sentiment: Management said the consumer is still spending, with travel, entertainment, gas, and other discretionary categories holding up, which supports loan demand and fee-generating activity. Bank of America Says Consumer Unit Earned Nearly $3.3 Billion as Spending Holds Up
• Positive Sentiment: BofA highlighted durable growth drivers on its earnings call, including rising NII, loan and deposit growth, operating leverage, and AI-driven productivity gains. Bank of America Q2 Earnings Call Points to Durable Growth Drivers
• Neutral Sentiment: Separate articles also noted broader optimism around the U.S. economy and financial stocks, which may be helping sentiment across the banking sector. Money Is Suddenly Rotating Into Financial Stocks. Here’s What’s Driving It — and Whether the Move Lasts.

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.