Bank of America (NYSE:BAC) Shares Down 1.1% Following Analyst Downgrade

Shares of Bank of America Corporation (NYSE:BAC) were down 1.1% on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $62.00 to $59.50. JPMorgan Chase & Co. currently has an overweight rating on the stock. Bank of America traded as low as $49.45 and last traded at $49.4720. Approximately 46,406,530 shares were traded during trading, an increase of 23% from the average session volume of 37,662,445 shares. The stock had previously closed at $50.01.

A number of other research analysts have also weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a report on Monday, October 19th. Wells Fargo & Company dropped their target price on shares of Bank of America from $69.00 to $64.00 and set an “overweight” rating for the company in a report on Thursday, October 15th. Evercore set a $62.00 target price on shares of Bank of America in a research report on Thursday, October 1st. Truist Financial decreased their price target on shares of Bank of America from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, October 15th. Finally, Royal Bank Of Canada lowered their price target on shares of Bank of America from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.70.

Trending Headlines about Bank of America

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Some Wall Street analysts remain bullish on Bank of America despite its recent underperformance, suggesting potential upside based on valuation and longer-term earnings prospects. Are Wall Street Analysts Predicting Bank of America Stock Will Climb or Sink?
• Neutral Sentiment: Bank of America disclosed higher indirect ownership stakes in Turkey-based Euro Trend Yatırım Ortaklığı and Prizma Pres. These appear to be small, unrelated investment positions and are unlikely to materially affect BAC’s earnings or valuation. Bank of America Raises Indirect Euro Trend Stake to 3.011%
• Negative Sentiment: Multiple law firms publicized a securities class action involving investors who bought BAC shares between August 1, 2025, and October 13, 2026. The notices allege securities-law violations and highlight a December 15, 2026, lead-plaintiff deadline. The announcements are largely investor-solicitation notices rather than findings of wrongdoing, but they add legal and reputational overhang. Kaplan Fox Bank of America Class Action Notice
• Negative Sentiment: Bank of America economists warned that a sustained correction in artificial-intelligence investment could become a major risk to the global economy. A sharper technology downturn could pressure capital markets, loan demand and investment-banking activity, although this is a macroeconomic warning rather than a BAC-specific forecast. BofA Warns About AI Boom Risks
• Negative Sentiment: A separate report highlighted a pessimistic price outlook from JPMorgan Chase, reinforcing near-term analyst caution around BAC. JPMorgan Issues Pessimistic Forecast for Bank of America

Institutional Investors Weigh In On Bank of America

Hedge funds have recently modified their holdings of the company. Genesis Private Wealth LLC lifted its holdings in Bank of America by 46.7% in the third quarter. Genesis Private Wealth LLC now owns 9,291 shares of the financial services provider’s stock valued at $506,000 after acquiring an additional 2,959 shares during the last quarter. Brady Family Wealth LLC increased its stake in Bank of America by 0.6% during the third quarter. Brady Family Wealth LLC now owns 42,310 shares of the financial services provider’s stock worth $2,303,000 after acquiring an additional 243 shares during the last quarter. Platform Technology Partners increased its stake in Bank of America by 2.0% during the third quarter. Platform Technology Partners now owns 22,260 shares of the financial services provider’s stock worth $1,212,000 after acquiring an additional 440 shares during the last quarter. Quest 10 Wealth Builders Inc. increased its stake in Bank of America by 24.8% during the third quarter. Quest 10 Wealth Builders Inc. now owns 1,754 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 349 shares during the last quarter. Finally, Wealth Dimensions Group Ltd. raised its position in Bank of America by 17.5% in the third quarter. Wealth Dimensions Group Ltd. now owns 15,213 shares of the financial services provider’s stock valued at $828,000 after purchasing an additional 2,271 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.17. The company has a market cap of $345.95 billion, a PE ratio of 11.75, a P/E/G ratio of 0.87 and a beta of 1.21. The stock has a 50-day simple moving average of $56.44 and a 200 day simple moving average of $54.96.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.02). The business had revenue of $29.96 billion for the quarter, compared to analysts’ expectations of $30.58 billion. Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.06 earnings per share. Equities analysts expect that Bank of America Corporation will post 4.52 EPS for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Friday, December 4th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.6%. Bank of America’s dividend payout ratio (DPR) is presently 30.40%.

About Bank of America

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.