Zacks Research Raises Earnings Estimates for Bank of America

Bank of America Co. (NYSE:BAC) – Investment analysts at Zacks Research lifted their Q3 2025 earnings estimates for Bank of America in a report issued on Wednesday, November 13th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings of $0.89 per share for the quarter, up from their previous estimate of $0.84. The consensus estimate for Bank of America’s current full-year earnings is $3.27 per share.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.25 billion. During the same period in the previous year, the firm posted $0.90 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis.

A number of other research firms have also recently weighed in on BAC. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, September 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a research report on Wednesday, October 9th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Wells Fargo & Company increased their price target on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Barclays boosted their price objective on Bank of America from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.26.

Bank of America Trading Up 0.1 %

Shares of NYSE BAC opened at $45.91 on Friday. Bank of America has a 1-year low of $29.20 and a 1-year high of $46.52. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The business’s 50 day moving average is $41.22 and its two-hundred day moving average is $40.22. The stock has a market capitalization of $352.26 billion, a P/E ratio of 16.69, a PEG ratio of 1.55 and a beta of 1.32.

Institutional Investors Weigh In On Bank of America

A number of hedge funds and other institutional investors have recently made changes to their positions in BAC. Summit Global Investments lifted its stake in shares of Bank of America by 237.6% in the third quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after buying an additional 36,089 shares in the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Bank of America by 125.8% during the 3rd quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock worth $2,421,000 after purchasing an additional 33,983 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in shares of Bank of America by 27.1% in the first quarter. Citizens Financial Group Inc. RI now owns 98,189 shares of the financial services provider’s stock valued at $3,734,000 after purchasing an additional 20,916 shares in the last quarter. Councilmark Asset Management LLC acquired a new stake in shares of Bank of America in the first quarter valued at approximately $771,000. Finally, SteelPeak Wealth LLC boosted its stake in Bank of America by 37.7% during the second quarter. SteelPeak Wealth LLC now owns 54,393 shares of the financial services provider’s stock worth $2,163,000 after buying an additional 14,901 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insider Buying and Selling at Bank of America

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 5,035,018 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.65, for a total value of $199,638,463.70. Following the completion of the transaction, the insider now owns 928,460,939 shares of the company’s stock, valued at approximately $36,813,476,231.35. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bernard A. Mensah sold 92,000 shares of Bank of America stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $39.80, for a total value of $3,661,600.00. Following the sale, the insider now directly owns 96,082 shares of the company’s stock, valued at approximately $3,824,063.60. This represents a 48.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,883,988 shares of company stock valued at $4,344,741,752. 0.29% of the stock is currently owned by insiders.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 6th will be paid a $0.26 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.04 annualized dividend and a yield of 2.27%. Bank of America’s dividend payout ratio (DPR) is presently 37.82%.

Bank of America declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 24th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

About Bank of America

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.