Bank of America (NYSE:BAC) Price Target Raised to $69.00 at Wells Fargo & Company

Bank of America (NYSE:BAC) had its price objective raised by Wells Fargo & Company from $67.00 to $69.00 in a report issued on Wednesday morning, Marketbeat Ratings reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on the company. Robert W. Baird boosted their target price on Bank of America from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research report on Friday, April 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price target on shares of Bank of America in a research report on Tuesday. UBS Group boosted their price objective on shares of Bank of America from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Piper Sandler upped their target price on Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.77.

Bank of America Trading Up 1.7%

NYSE:BAC opened at $61.62 on Wednesday. The company has a market cap of $437.31 billion, a PE ratio of 14.13, a PEG ratio of 1.01 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.81. Bank of America has a one year low of $44.75 and a one year high of $62.03. The firm has a 50-day moving average of $54.93 and a 200-day moving average of $53.05.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates of $30.78 billion. During the same period in the previous year, the company posted $0.89 EPS. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. As a group, equities research analysts expect 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. Shareholders of record on Friday, June 5th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. Bank of America’s dividend payout ratio (DPR) is 27.72%.

Insider Buying and Selling at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the company’s 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 completion of the sale, the insider owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Institutional Trading of Bank of America

Several institutional investors have recently added to or reduced their stakes in BAC. Handelsbanken Fonder AB increased its stake in Bank of America by 53.0% in the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock worth $254,625,000 after buying an additional 1,603,080 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Bank of America by 3.4% in the fourth quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider’s stock valued at $2,497,655,000 after acquiring an additional 1,487,809 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Bank of America by 2.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,905,348 shares of the financial services provider’s stock valued at $159,794,000 after acquiring an additional 71,307 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Bank of America by 9.9% in the fourth quarter. Ritholtz Wealth Management now owns 231,018 shares of the financial services provider’s stock worth $12,706,000 after acquiring an additional 20,819 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Bank of America by 217.4% during the fourth quarter. International Assets Investment Management LLC now owns 327,949 shares of the financial services provider’s stock worth $18,037,000 after purchasing an additional 224,627 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Bank of America

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.