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

06 Feb 2026, 22:00 by Mitch Edgeman · The Markets Daily

Shares of Bank of America Corporation (NYSE:BAC) rose 2.9% during trading 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 were traded during trading, an increase of 3% from the average daily volume of 39,874,672 shares. The stock had previously closed at $54.94.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company raised their price target on shares of Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Wolfe Research downgraded shares of Bank of America from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Phillip Securities increased their target price on Bank of America from $50.00 to $56.00 in a report on Tuesday, October 21st. Robert W. Baird increased their price target on Bank of America from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Twenty-two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.30.

View Our Latest Research Report on Bank of America

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

A number of hedge funds have recently made changes to their positions in the business. Quaker Wealth Management LLC increased its stake in shares of 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 purchasing an additional 880 shares during the period. Wiser Advisor Group LLC bought a new position in Bank of America in the third quarter valued at about $27,000. Steph & Co. lifted its stake in Bank of America by 224.3% in the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 379 shares during the last quarter. Legacy Bridge LLC boosted its position 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 in the last quarter. Finally, CGC Financial Services LLC grew its stake in shares of Bank of America by 585.4% during the second quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock worth $29,000 after buying an additional 521 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Up 2.9%

The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $412.88 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 1.35 and a beta of 1.29. The firm’s fifty day moving average price is $54.32 and its 200-day moving average price is $51.74.

Bank of America (NYSE:BAC – Get Free Report) last issued its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts expect 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. Investors of record on Friday, March 6th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, March 6th. Bank of America’s dividend payout ratio is presently 29.24%.

Bank of America Company Profile

(Get Free Report)

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.