Zacks Research Lifts Earnings Estimates for Bank of America

Bank of America Co. (NYSE:BAC) – Zacks Research boosted their Q1 2025 earnings estimates for shares of Bank of America in a report released on Wednesday, November 13th. Zacks Research analyst R. Department now expects that the financial services provider will earn $0.78 per share for the quarter, up from their prior estimate of $0.71. The consensus estimate for Bank of America’s current full-year earnings is $3.27 per share. Zacks Research also issued estimates for Bank of America’s Q2 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.94 EPS, FY2025 earnings at $3.48 EPS, Q1 2026 earnings at $0.89 EPS, Q2 2026 earnings at $0.95 EPS, Q3 2026 earnings at $0.95 EPS and FY2026 earnings at $3.86 EPS.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.25 billion. During the same period last year, the firm earned $0.90 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year.

A number of other research firms have also weighed in on BAC. Deutsche Bank Aktiengesellschaft raised Bank of America from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Tuesday, September 3rd. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a report on Friday, October 18th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 target price on shares of Bank of America in a report on Wednesday, October 9th. Finally, Morgan Stanley boosted their price target on Bank of America from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $44.26.

Bank of America Price Performance

BAC opened at $46.72 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $41.64 and its 200 day simple moving average is $40.44. The firm has a market cap of $358.48 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.58 and a beta of 1.32. Bank of America has a 1 year low of $29.32 and a 1 year high of $47.02.

Institutional Trading of Bank of America

Institutional investors have recently added to or reduced their stakes in the business. Fairway Wealth LLC purchased a new position in shares of Bank of America during the second quarter valued at approximately $27,000. POM Investment Strategies LLC raised its stake in Bank of America by 839.0% during the 2nd quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider’s stock valued at $29,000 after buying an additional 646 shares during the last quarter. Kennebec Savings Bank bought a new position in shares of Bank of America during the 3rd quarter valued at $29,000. Bbjs Financial Advisors LLC purchased a new position in shares of Bank of America in the 2nd quarter worth $30,000. Finally, Christopher J. Hasenberg Inc grew its holdings in shares of Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 852 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Bernard A. Mensah sold 92,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $39.80, for a total value of $3,661,600.00. Following the transaction, the insider now owns 96,082 shares in the company, valued at $3,824,063.60. The trade was a 48.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Berkshire Hathaway Inc sold 1,721,366 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $39.57, for a total transaction of $68,114,452.62. Following the sale, the insider now owns 861,175,131 shares of the company’s stock, valued at approximately $34,076,699,933.67. This represents a 0.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,848,970 shares of company stock worth $4,145,103,288 in the last 90 days. Insiders own 0.29% of the company’s stock.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be given a $0.26 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.23%. Bank of America’s dividend payout ratio is currently 37.82%.

Bank of America declared that its board has authorized a share repurchase plan on Wednesday, July 24th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

About Bank of America

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.