Bank of America (NYSE:BAC) Shares Down 1.6% – Here’s Why

02 Jul 2026, 20:40 by Mitch Edgeman · The Markets Daily

Bank of America Corporation (NYSE:BAC) shares fell 1.6% during trading on Tuesday . The stock traded as low as $56.84 and last traded at $56.9730. Approximately 34,664,783 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 39,273,090 shares. The stock had previously closed at $57.88.

More Bank of America News

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

Positive Sentiment: Bank of America Securities’ strategist Savita Subramanian said corporate earnings remain strong and argued investors should rotate toward cheaper cyclical and “boring” stocks, reinforcing a constructive view on equities and BofA’s broader market outlook. BofA’s Top Strategist Says Ditch the Index and Buy These ‘Boring’ Stocks Instead
Positive Sentiment: Analysts continued to highlight BAC as undervalued, with Morgan Stanley recently raising its price target to $67 and keeping an Overweight rating, which supports the stock’s valuation case ahead of earnings. Is Bank of America (BAC) the Most Undervalued American Stock to Invest In?
Positive Sentiment: BAC also got a lift from a broader banking-sector value comparison article and from reports that BofA’s own analysts remain constructive on financials and other cyclical names, suggesting continued confidence in the bank’s earnings outlook. More Bang for Your Buck: Is Bank of America or Wells Fargo the Better Value-and-Income Buy?
Neutral Sentiment: Bank of America’s technical strategist warned the S&P 500 could face a “three-wave correction,” a cautious market call that could pressure risk appetite for bank stocks if equities weaken. S&P 500 Faces Risk of a ‘Three-Wave Correction,’ Warns Bank of America
Negative Sentiment: Senate Democrats asked the Fed’s inspector general to review whether Vice Chair Michelle Bowman violated rules by speaking at a private Bank of America client dinner, creating a governance headline that could weigh on sentiment. US Senator Warren calls for Fed watchdog review of Bowman’s BofA dinner, WSJ reports
Negative Sentiment: Bank of America’s Merrill Lynch unit was fined $7.5 million by the U.S. SEC, adding another regulatory overhang for the bank and its brokerage franchise. Bank of America’s Merrill Lynch unit fined $7.5M by U.S. SEC

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Robert W. Baird upped their price objective on Bank of America from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Morgan Stanley boosted their target price on shares of Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group upped their price target on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Oppenheimer cut shares of Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Argus upped their target price on shares of Bank of America from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and an average target price of $61.60.

Read Our Latest Analysis on Bank of America

Bank of America Price Performance

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. The company has a market cap of $416.35 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 0.96 and a beta of 1.18. The company has a fifty day simple moving average of $53.60 and a two-hundred day simple moving average of $52.75.

Bank of America (NYSE:BAC – Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. The business had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. On average, equities research analysts anticipate that Bank of America Corporation will post 4.49 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, June 5th. Bank of America’s dividend payout ratio is 27.72%.

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the sale, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BAC. Abound Financial LLC purchased a new stake in shares of Bank of America in the fourth quarter valued at $26,000. Legacy Bridge LLC lifted its holdings in Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 330 shares in the last quarter. Wiser Advisor Group LLC purchased a new position in Bank of America in the 3rd quarter valued at about $27,000. CrossGen Wealth LLC acquired a new stake in shares of Bank of America during the 4th quarter worth about $30,000. Finally, Joseph Group Capital Management purchased a new stake in shares of Bank of America during the fourth quarter worth about $32,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

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.