Bank of America (NYSE:BAC) Stock Price Down 1.4% – Here’s What Happened

22 Jul 2026, 15:00 by Scott Moore · The Cerbat Gem

Bank of America Corporation (NYSE:BAC)’s stock price dropped 1.4% on Monday . The stock traded as low as $60.37 and last traded at $60.4090. Approximately 30,494,820 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 38,825,867 shares. The stock had previously closed at $61.27.

Key Headlines Impacting Bank of America

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

Positive Sentiment: Bank of America and partners Vanguard and Blackstone launched new private-markets funds that will initially be available to Merrill and Private Bank clients, giving BAC a role in opening a new investment product to its wealth-management customers. Vanguard, Blackstone, and Wellington Launch First Joint Funds. What to Know.
Positive Sentiment: Bank of America reported strong uptake of its new BofA Rewards program, with more than 3 million clients enrolling in the first seven weeks, supporting the view that its consumer franchise can deepen relationships and deposits. 3 Million+ Clients Enroll in New BofA Rewards™ Program in First Seven Weeks
Positive Sentiment: BAC is also getting credit for technology improvements, including upgraded generative AI in EricaAssist to help more than 18,000 customer service reps resolve client needs faster, which could improve efficiency and customer service. Bank of America Enhances EricaAssist with Generative AI to Help Employees Resolve Client Needs Faster
Positive Sentiment: Analysts remain constructive, with Oppenheimer reportedly adding Bank of America to a latest buy list and highlighting a near-perfect quant rating, reinforcing bullish sentiment around the stock. Bank of America leads Oppenheimer’s latest buy additions with near-perfect quant rating

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Robert W. Baird raised their price target on shares of Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Daiwa Securities Group upped their price objective on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price objective on shares of Bank of America in a research report on Tuesday, July 14th. Wells Fargo & Company raised their target price on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada lifted their target price on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.77.

View Our Latest Report on BAC

Bank of America Price Performance

The company has a fifty day moving average of $55.71 and a 200-day moving average of $53.21. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The stock has a market cap of $437.02 billion, a PE ratio of 14.12, a P/E/G ratio of 0.97 and a beta of 1.17.

Bank of America (NYSE:BAC – Get Free Report) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.Bank of America’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS. Sell-side analysts expect that Bank of America Corporation will post 4.66 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. Bank of America’s dividend payout ratio (DPR) is presently 25.69%.

Insider Buying and Selling at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider directly owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Bank of America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BAC. Peddock Capital Advisors LLC grew its stake in shares of Bank of America by 0.5% in the second quarter. Peddock Capital Advisors LLC now owns 77,672 shares of the financial services provider’s stock worth $4,426,000 after acquiring an additional 406 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in Bank of America in the second quarter valued at $661,000. Clarendon Private LLC grew its stake in Bank of America by 4.1% during the 2nd quarter. Clarendon Private LLC now owns 21,747 shares of the financial services provider’s stock worth $1,239,000 after purchasing an additional 866 shares in the last quarter. Synergy Asset Management LLC grew its stake in Bank of America by 1,817.6% during the 2nd quarter. Synergy Asset Management LLC now owns 511,749 shares of the financial services provider’s stock worth $29,159,000 after purchasing an additional 485,062 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Bank of America by 12.2% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,488,510 shares of the financial services provider’s stock worth $84,815,000 after purchasing an additional 161,759 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

About Bank of America

(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.