Daiwa Securities Group Cuts Bank of America (NYSE:BAC) Price Target to $58.00

10 Apr 2026, 07:20 by Tristan Rich · The Markets Daily

Bank of America (NYSE:BAC) had its price target trimmed by Daiwa Securities Group from $62.00 to $58.00 in a report released on Tuesday morning,MarketScreener reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. TD Cowen reduced their price objective on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a report on Tuesday, January 27th. Wolfe Research downgraded Bank of America from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods dropped their target price on Bank of America from $64.00 to $63.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Finally, Argus upped their target price on Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.10.

Check Out Our Latest Analysis on BAC

Bank of America Price Performance

BAC stock opened at $52.73 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America has a one year low of $34.63 and a one year high of $57.55. The firm has a market capitalization of $376.77 billion, a PE ratio of 13.77, a P/E/G ratio of 0.91 and a beta of 1.23. The firm has a 50-day moving average of $50.60 and a two-hundred day moving average of $52.19.

Bank of America (NYSE:BAC – Get Free Report) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $27.73 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up 12.3% on a year-over-year basis. On average, analysts forecast that Bank of America will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were issued a $0.28 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America’s dividend payout ratio is currently 29.24%.

Insider Buying and Selling

In related news, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total value of $4,412,360.00. Following the transaction, the insider owned 170,184 shares in the company, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas M. Scrivener sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the transaction, the insider owned 227,973 shares in the company, valued at $11,357,614.86. This represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 227,832 shares of company stock worth $11,094,960. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Bank of America

Hedge funds have recently added to or reduced their stakes in the company. Abound Financial LLC acquired a new position in Bank of America in the fourth quarter worth approximately $26,000. Wiser Advisor Group LLC acquired a new position in Bank of America in the third quarter worth approximately $27,000. Steph & Co. increased its holdings in Bank of America by 224.3% in the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after buying an additional 379 shares during the last quarter. Legacy Bridge LLC increased its holdings in Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after buying an additional 330 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new position in Bank of America in the third quarter worth approximately $30,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Key Stories Impacting Bank of America

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

Positive Sentiment: CashPro adoption is rising — the CashPro app reported a 20% increase in usage and clients are approving roughly $38,000 in payments every second, highlighting stronger fee income and deeper commercial client engagement for BAC. CashPro App Usage Rises 20% as Clients Approve $38,000 in Payments Every Second
Positive Sentiment: BofA’s OCIO leadership and role in potential AI infrastructure financing (reported as part of a possible ~$14B package for Oracle/OpenAI cloud build‑out) point to large corporate lending and advisory opportunities that could boost non‑interest income. Bank Of America’s OCIO Leadership And AI Financing Set Against Valuation
Positive Sentiment: Regulatory draft rules could free up to $320B of capital for U.S. banks, according to analysts — a structural tailwind that could allow BAC to redeploy capital into lending, buybacks or higher dividends over time. US banks could release $320 billion in capital with new draft rules, analysts say
Positive Sentiment: BAC announced it will redeem $3.0B of 3.559% senior notes due April 2027 on April 23 — a debt refinancing/management action that simplifies the liability profile and reduces outstanding debt. Bank of America Announces Redemption of $3,000,000,000 3.559% Fixed/Floating Rate Senior Notes, Due April 2027
Neutral Sentiment: Q1 earnings are a near‑term catalyst — BAC will report results and host a conference call on April 15; investors are positioning ahead of that report. Bank of America to Report First Quarter 2026 Financial Results and Host Investor Conference Call on April 15
Neutral Sentiment: BofA research continues to generate headlines (e.g., a note on large growth in sports‑related event contracts and broader sector calls), reinforcing the bank’s franchise as a research and advisory leader — useful for reputation and client flow but indirect for near‑term stock moves. BofA Expects Sports-Related Event Contracts to Hit $1.1 Trillion Per Year
Negative Sentiment: Several analysts have trimmed price targets recently (UBS cut its target to $62 from $67 but kept a Buy; Truist trimmed to $57), and JPMorgan lowered its target to $57.50 — these actions cap near‑term upside and add some pressure on sentiment. UBS adjusts price target on Bank of America Corp to $62 from $67; maintains buy rating JPMorgan Chase & Co. Lowers Bank of America (NYSE:BAC) Price Target to $57.50

Bank of America Company Profile

(Get Free Report)

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.