Bank of America (NYSE:BAC) Stock Price Down 2.2% on Analyst Downgrade

01 Nov 2026, 10:21 by Mitch Edgeman · The Markets Daily

Bank of America Corporation (NYSE:BAC – Get Free Report) shares were down 2.2% on Friday 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 $49.78 and last traded at $50.03. 42,000,245 shares changed hands during trading, an increase of 12% from the average session volume of 37,614,684 shares. The stock had previously closed at $51.14.

BAC has been the subject of several other research reports. TD Cowen decreased their price objective on Bank of America from $60.00 to $56.00 and set a “hold” rating for the company in a report on Thursday, October 15th. Robert W. Baird raised shares of Bank of America from a “neutral” rating to an “outperform” rating and set a $62.00 price objective on the stock in a report on Thursday, October 15th. UBS Group cut their target price on shares of Bank of America from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Argus set a $70.00 target price on shares of Bank of America in a research note on Wednesday, July 15th. Finally, Evercore set a $62.00 target price on shares of Bank of America in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.70.

View Our Latest Stock Report on BAC

Bank of America News Summary

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

Hedge Funds Weigh In On Bank of America

Hedge funds have recently made changes to their positions in the stock. Turim 21 Investimentos Ltda. bought a new stake in Bank of America during the 2nd quarter valued at $25,000. Cherry Tree Wealth Management LLC grew its holdings in Bank of America by 167.6% in the 2nd 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 increased its position in shares of Bank of America by 69.9% in the second quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 218 shares during the period. Frazier Financial Advisors LLC purchased a new position in shares of Bank of America in the second quarter valued at about $34,000. Finally, Balance Wealth Partners LLC purchased a new position in shares of Bank of America in the third quarter valued at about $33,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Trading Down 2.2%

The stock has a market capitalization of $349.85 billion, a P/E ratio of 11.88, a P/E/G ratio of 0.87 and a beta of 1.21. The firm’s 50 day moving average price is $56.44 and its 200 day moving average price is $54.96. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82.

Bank of America (NYSE:BAC – Get Free Report) last posted its 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 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%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.06 earnings per share. As a group, equities research analysts expect that Bank of America Corporation will post 4.52 earnings per share for the current fiscal year.

Bank of America Announces Dividend

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 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 yield of 2.6%. Bank of America’s dividend payout ratio is presently 30.40%.

Bank of America Company Profile

(Get Free Report)

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.