Zacks Research Raises Earnings Estimates for Bank of America

Bank of America Co. (NYSE:BAC) – Equities research analysts at Zacks Research boosted their Q1 2025 earnings per share (EPS) estimates for shares of Bank of America in a note issued to investors 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 previous forecast 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 posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The business’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 earnings per share.

A number of other equities analysts have also recently issued reports on the company. Evercore ISI increased their target price on Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a report on Wednesday, October 9th. Oppenheimer increased their target price on shares of Bank of America from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company upped their price objective on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.26.

Bank of America Stock Performance

NYSE BAC opened at $46.41 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The company’s 50-day simple moving average is $41.78 and its 200 day simple moving average is $40.51. The stock has a market cap of $356.10 billion, a P/E ratio of 16.88, a PEG ratio of 1.58 and a beta of 1.32. Bank of America has a twelve month low of $29.32 and a twelve month high of $47.02.

Bank of America announced that its board has approved a share buyback program on Wednesday, July 24th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Bank of America Dividend Announcement

The firm 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 dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, December 6th. Bank of America’s dividend payout ratio is 37.82%.

Insider Buying and Selling

In other Bank of America news, insider Bernard A. Mensah sold 92,000 shares of Bank of America stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $39.80, for a total transaction of $3,661,600.00. Following the completion of the sale, the insider now owns 96,082 shares of the company’s stock, valued at approximately $3,824,063.60. The trade was a 48.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Berkshire Hathaway Inc sold 11,422,560 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $40.78, for a total value of $465,811,996.80. Following the completion of the transaction, the insider now directly owns 835,908,435 shares in the company, valued at approximately $34,088,345,979.30. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,848,970 shares of company stock valued at $4,145,103,288 over the last ninety days. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Bank of America

Institutional investors have recently modified their holdings of the stock. Fairway Wealth LLC acquired a new position in Bank of America during the second quarter valued at approximately $27,000. POM Investment Strategies LLC increased its position in shares of Bank of America by 839.0% in 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 in the last quarter. Kennebec Savings Bank acquired a new stake in Bank of America during the 3rd quarter worth $29,000. Bbjs Financial Advisors LLC bought a new position in Bank of America during the second quarter worth about $30,000. Finally, Christopher J. Hasenberg Inc grew its stake in 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 valued at $40,000 after acquiring an additional 852 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

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.