Bank of America (NYSE:BAC) Stock Falls 1.1% on Analyst Downgrade

Bank of America Corporation (NYSE:BAC) shares dropped 1.1% during trading 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 daily volume of 37,662,445 shares. The stock had previously closed at $50.01.

Several other equities research analysts also recently issued reports on BAC. Royal Bank Of Canada cut their price objective on Bank of America from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a report on Monday, October 19th. TD Cowen dropped their target price on Bank of America from $60.00 to $56.00 and set a “hold” rating for the company in a research report on Thursday, October 15th. Phillip Securities raised Bank of America to a “strong-buy” rating in a research report on Friday, October 16th. Finally, Citigroup cut their price target on shares of Bank of America from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and an average price target of $62.70.

Bank of America News Roundup

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 Yat?r?m Ortakl??? 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

Several large investors have recently bought and sold shares of BAC. Turim 21 Investimentos Ltda. acquired a new stake in Bank of America in the second quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC lifted its stake in Bank of America by 167.6% in the second quarter. Cherry Tree Wealth Management LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Principia Wealth Advisory LLC grew its holdings in Bank of America by 69.9% during the 2nd quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 218 shares in the last quarter. Frazier Financial Advisors LLC acquired a new position in Bank of America during the 2nd quarter worth approximately $34,000. Finally, Balance Wealth Partners LLC purchased a new stake in shares of Bank of America in the 3rd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

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

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.02). The firm 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%. Bank of America’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.06 earnings per share. As a group, research analysts expect that Bank of America Corporation will post 4.52 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Friday, December 4th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, December 4th. Bank of America’s payout ratio is 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.