Zacks Research Boosts Earnings Estimates for Bank of America

Bank of America Corporation (NYSE:BAC) – Equities researchers at Zacks Research boosted their Q2 2026 EPS estimates for shares of Bank of America in a research note issued to investors on Wednesday, November 5th. Zacks Research analyst Team now forecasts that the financial services provider will post earnings of $1.02 per share for the quarter, up from their prior forecast of $1.01. The consensus estimate for Bank of America’s current full-year earnings is $3.70 per share. Zacks Research also issued estimates for Bank of America’s Q1 2027 earnings at $1.00 EPS and Q3 2027 earnings at $1.32 EPS.

Other research analysts also recently issued reports about the company. Truist Financial upped their price target on Bank of America from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Wall Street Zen upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Daiwa Capital Markets increased their target price on Bank of America from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Citigroup lifted their price target on shares of Bank of America from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Robert W. Baird boosted their price target on shares of Bank of America from $52.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Twenty-three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $57.86.

Bank of America Price Performance

BAC stock opened at $53.22 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. The company’s 50-day moving average is $51.33 and its 200-day moving average is $47.51. The stock has a market capitalization of $388.62 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34. Bank of America has a 1 year low of $33.06 and a 1 year high of $53.99.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.13. Bank of America had a net margin of 15.70% and a return on equity of 10.76%. The business had revenue of $28.09 billion during the quarter, compared to analysts’ expectations of $27.05 billion. During the same period last year, the company posted $0.81 earnings per share. The business’s quarterly revenue was up 10.8% on a year-over-year basis.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 5th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th. Bank of America’s payout ratio is currently 30.52%.

Bank of America announced that its board has approved a share buyback program on Wednesday, July 23rd that allows the company to buyback $40.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 11.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Bank of America

Institutional investors and hedge funds have recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Bank of America by 30.0% in the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after acquiring an additional 25,143 shares in the last quarter. Trek Financial LLC boosted its position in Bank of America by 13.6% in the first quarter. Trek Financial LLC now owns 12,807 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 1,534 shares during the last quarter. Greenleaf Trust grew its stake in Bank of America by 3.2% in the 1st quarter. Greenleaf Trust now owns 156,145 shares of the financial services provider’s stock valued at $6,516,000 after purchasing an additional 4,799 shares during the period. Dogwood Wealth Management LLC increased its position in shares of Bank of America by 7.4% during the 1st quarter. Dogwood Wealth Management LLC now owns 16,002 shares of the financial services provider’s stock valued at $668,000 after purchasing an additional 1,107 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its position in shares of Bank of America by 55.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 2,805 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 1,004 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Company Profile

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.