Bank of America (NYSE:BAC) Given New $59.50 Price Target at JPMorgan Chase & Co.

Bank of America (NYSE:BAC) had its price target cut by investment analysts at JPMorgan Chase & Co. from $62.00 to $59.50 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 18.93% from the stock’s current price.

Several other research firms also recently issued reports on BAC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a report on Monday, October 19th. Phillip Securities upgraded shares of Bank of America to a “strong-buy” rating in a report on Friday, October 16th. Evercore set a $62.00 target price on shares of Bank of America in a report on Thursday, October 1st. Argus set a $70.00 target price on shares of Bank of America in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada decreased their price target on shares of Bank of America from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.70.

Bank of America Stock Performance

Bank of America stock traded down $1.11 during trading hours on Friday, reaching $50.03. 42,446,899 shares of the company were exchanged, compared to its average volume of 37,617,648. The firm has a market cap of $349.85 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 0.89 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17. The stock has a 50-day moving average of $56.44 and a 200 day moving average of $54.96. Bank of America has a 12 month low of $46.12 and a 12 month high of $65.22.

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

Institutional Trading of Bank of America

Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new stake in shares of Bank of America during the 2nd quarter worth approximately $2,571,060,000. Amundi increased its position in shares of Bank of America by 12.5% during the first quarter. Amundi now owns 42,385,115 shares of the financial services provider’s stock valued at $2,066,274,000 after purchasing an additional 4,721,969 shares during the period. Deutsche Bank AG acquired a new position in shares of Bank of America in the second quarter valued at $2,359,172,000. Bank of New York Mellon Corp bought a new position in Bank of America in the second quarter worth $2,313,953,000. Finally, Dimensional Fund Advisors LP lifted its position in Bank of America by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider’s stock worth $1,517,599,000 after purchasing an additional 561,413 shares during the period. 70.71% of the stock is owned by institutional investors.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America’s market commentary remains constructive on several growth initiatives. Analysts point to branch expansion and artificial-intelligence investments as potential drivers of deposit growth, stronger customer relationships and improved efficiency. Can BAC’s Branch Expansion & AI Push Drive Long-Term Growth?
• Positive Sentiment: Bank of America expanded its physical banking presence by opening new financial centers in Wisconsin, supporting its long-term strategy to deepen retail relationships and gather deposits. Bank of America expands in-person reach with new financial centers in Wisconsin
• Neutral Sentiment: Bank of America’s investment strategists highlighted technology-company bonds as potentially more attractive than tech stocks, reflecting a broader shift toward credit and quality assets. The view may benefit the bank’s investment-banking and fixed-income businesses, but it does not directly change BAC’s earnings outlook. Tech Bonds Are ‘Diamonds in the Rough’: Bank of America’s Hartnett Says
• Negative Sentiment: Senator Elizabeth Warren urged the Justice Department to investigate Bank of America and potentially its executives over alleged anti-money-laundering and sanctions violations. The pressure follows a reported $1.21 billion penalty and raises concerns about additional fines, remediation costs and reputational damage. Warren urges DOJ criminal probe of Bank of America over anti-money-laundering violations
• Negative Sentiment: Multiple law firms promoted a securities-fraud class action covering investors who purchased BAC shares from August 1, 2025, through October 13, 2026. The repeated notices and December 15, 2026 lead-plaintiff deadline reinforce near-term litigation overhang, although the allegations have not been adjudicated. ROSEN securities class action notice
• Negative Sentiment: Bank of America was also sued over its use of mandatory arbitration in employee disputes, adding another legal and compliance concern for investors. Bank of America sued over mandatory arbitration for employee disputes

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.