Bank of America (NYSE:BAC) Given New $70.00 Price Target at Keefe, Bruyette & Woods

Bank of America (NYSE:BAC) had its price objective increased by Keefe, Bruyette & Woods from $67.00 to $70.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays boosted their price target on shares of Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday. Oppenheimer cut shares of Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Citigroup raised their price objective on shares of Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Truist Financial lifted their target price on shares of Bank of America from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.77.

Bank of America Stock Performance

Shares of NYSE:BAC opened at $61.62 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.81. The business’s fifty day moving average price is $54.93 and its two-hundred day moving average price is $53.05. Bank of America has a fifty-two week low of $44.75 and a fifty-two week high of $62.03. The stock has a market capitalization of $437.31 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.01 and a beta of 1.17.

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

Bank of America Announces Dividend

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

Insiders Place Their Bets

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction that occurred 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 approximately $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Bank of America

Several institutional investors and hedge funds have recently made changes to their positions in the business. Abound Financial LLC bought a new position in shares of Bank of America in the 4th quarter worth $26,000. Wiser Advisor Group LLC bought a new stake in Bank of America in the third quarter valued at about $27,000. Legacy Bridge LLC lifted its stake in Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after buying an additional 330 shares during the period. CrossGen Wealth LLC acquired a new position in Bank of America in the fourth quarter valued at about $30,000. Finally, Joseph Group Capital Management bought a new position in Bank of America during the fourth quarter worth about $32,000. 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: 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.

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.