Recent Investment Analysts’ Ratings Updates for Bank of America (BAC)

by · The Markets Daily

A number of research firms have changed their ratings and price targets for Bank of America (NYSE: BAC):

  • 1/7/2025 – Bank of America was upgraded by analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating.
  • 1/7/2025 – Bank of America was upgraded by analysts at HSBC Holdings plc from a “hold” rating to a “buy” rating. They now have a $50.00 price target on the stock.
  • 1/7/2025 – Bank of America is now covered by analysts at Truist Financial Co.. They set a “buy” rating and a $52.00 price target on the stock.
  • 1/7/2025 – Bank of America was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating. They now have a $53.00 price target on the stock, up previously from $43.00.
  • 1/6/2025 – Bank of America had its price target raised by analysts at Barclays PLC from $53.00 to $58.00. They now have an “overweight” rating on the stock.
  • 1/3/2025 – Bank of America had its price target lowered by analysts at Oppenheimer Holdings Inc. from $57.00 to $54.00. They now have an “outperform” rating on the stock.
  • 12/9/2024 – Bank of America was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $55.00 price target on the stock, up previously from $48.00.
  • 12/3/2024 – Bank of America had its price target raised by analysts at Keefe, Bruyette & Woods from $50.00 to $57.00. They now have an “outperform” rating on the stock.
  • 12/3/2024 – Bank of America had its price target raised by analysts at Piper Sandler from $44.00 to $50.00. They now have a “neutral” rating on the stock.

Bank of America Trading Up 3.2 %

NYSE BAC traded up $1.45 during mid-day trading on Wednesday, reaching $47.23. 56,462,036 shares of the stock were exchanged, compared to its average volume of 35,054,953. The business’s fifty day simple moving average is $45.69 and its 200 day simple moving average is $42.31. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $362.39 billion, a PE ratio of 17.17, a PEG ratio of 1.55 and a beta of 1.33. Bank of America Co. has a 1-year low of $31.27 and a 1-year high of $48.08.

Bank of America (NYSE:BAC – Get Free Report) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. The firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 earnings per share. On average, research analysts anticipate that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bank of America

Several hedge funds have recently modified their holdings of the stock. HB Wealth Management LLC raised its stake in Bank of America by 3.7% during the fourth quarter. HB Wealth Management LLC now owns 290,470 shares of the financial services provider’s stock worth $12,766,000 after purchasing an additional 10,479 shares during the period. Cherrydale Wealth Management LLC increased its holdings in shares of Bank of America by 4.1% during the 4th quarter. Cherrydale Wealth Management LLC now owns 10,027 shares of the financial services provider’s stock worth $441,000 after buying an additional 399 shares during the last quarter. Wallington Asset Management LLC raised its position in shares of Bank of America by 1.8% in the 4th quarter. Wallington Asset Management LLC now owns 268,208 shares of the financial services provider’s stock worth $11,788,000 after buying an additional 4,800 shares during the period. CGN Advisors LLC grew its position in Bank of America by 6.1% during the fourth quarter. CGN Advisors LLC now owns 7,535 shares of the financial services provider’s stock valued at $331,000 after acquiring an additional 431 shares during the period. Finally, Premier Path Wealth Partners LLC raised its holdings in shares of Bank of America by 1.0% in the 4th quarter. Premier Path Wealth Partners LLC now owns 44,631 shares of the financial services provider’s stock worth $1,962,000 after purchasing an additional 451 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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