Bank of America (BAC) Stock Forecast & Price Target

$39.23

-0.45 (-1.13%)

(As of 10/1/2024 ET)

Bank of America - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 22 Analyst Ratings

Sell
1

Hold
8

Buy
13

Based on 22 Wall Street analysts who have issued ratings for Bank of America in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 22 analysts, 1 has given a sell rating, 8 have given a hold rating, 12 have given a buy rating, and 1 has given a strong buy rating for BAC.

Consensus Price Target

$42.12
7.37% Upside

According to the 22 analysts' twelve-month price targets for Bank of America, the average price target is $42.12. The highest price target for BAC is $49.00, while the lowest price target for BAC is $33.00. The average price target represents a forecasted upside of 7.37% from the current price of $39.23.

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BAC Analyst Ratings Over Time

Type	Current Forecast 10/3/23 to 10/2/24	1 Month Ago 9/3/23 to 9/2/24	3 Months Ago 7/5/23 to 7/4/24	1 Year Ago 10/3/22 to 10/3/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	12 Buy rating(s)	11 Buy rating(s)	11 Buy rating(s)	9 Buy rating(s)
Hold	8 Hold rating(s)	8 Hold rating(s)	6 Hold rating(s)	6 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	2 Sell rating(s)
Consensus Price Target	$42.12	$42.07	$40.02	$35.86
Forecasted Upside	7.37% Upside	3.25% Upside	-2.14% Downside	38.42% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Hold

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BAC Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

BAC Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Bank of America Stock vs. The Competition

Type	Bank of America	Finance Companies	S&P 500
Consensus Rating Score	2.59	2.46	2.50
Consensus Rating	Moderate Buy	Hold	Hold
Predicted Upside	6.80% Upside	15.19% Upside	6.61% Upside
News Sentiment Rating	Neutral News See Recent BAC News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
9/30/2024	Morgan Stanley 3 of 5 stars		Lower Target	Overweight ➝ Overweight	$49.00 ➝ $47.00	+18.51%
9/3/2024	Deutsche Bank Aktiengesellschaft 2 of 5 stars		Upgrade	Hold ➝ Buy	$45.00	+10.43%
7/18/2024	BMO Capital Markets 4 of 5 stars		Boost Target	Market Perform ➝ Market Perform	$38.00 ➝ $40.00	-9.07%
7/17/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$43.00 ➝ $49.00	+10.88%
7/17/2024	Keefe, Bruyette & Woods Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Konrad Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Outperform ➝ Outperform	$46.00 ➝ $48.00	+8.62%
7/17/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$43.00 ➝ $46.00	+4.10%
Get the Latest News and Ratings for BAC and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Bank of America and its competitors with MarketBeat's FREE daily newsletter.
7/17/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$39.00 ➝ $46.00	+4.36%
7/16/2024	Cfra Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold ➝ Sell	$39.00	-11.86%
7/9/2024	Piper Sandler Companies Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Underweight ➝ Neutral	$37.00 ➝ $42.00	+2.87%
7/3/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$39.00 ➝ $41.00	+0.44%
7/2/2024	Seaport Res Ptn Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Mitchell Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
5/1/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$39.50 ➝ $40.50	+8.75%
4/30/2024	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$45.00 ➝ $46.00	+22.47%
4/19/2024	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Peer Perform ➝ Outperform	$42.00	+17.42%
4/4/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Neutral	$39.00 ➝ $40.00	+6.84%
4/3/2024	Erste Group Bank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Hold ➝ Buy
3/28/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$40.00 ➝ $44.00	+16.87%
3/28/2024	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Hold	$38.00 ➝ $39.00	+3.09%
3/20/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$37.00 ➝ $39.00	+8.06%
1/16/2024	Odeon Capital Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold	$33.90	+3.35%
12/1/2023	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$30.00 ➝ $33.00	+8.13%
1/31/2023	Atlantic Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Overweight ➝ Neutral	$40.00	+13.31%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 04:20 AM ET.

Should I Buy Bank of America Stock? BAC Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Sunday, September 29, 2024. Please send any questions or comments about these Bank of America pros and cons to contact@marketbeat.com.

Bank of America
Bull Case

Here are some ways that investors could benefit from investing in Bank of America:

Bank of America recently increased its dividend from $0.24 to $0.26 per share, indicating strong financial performance and commitment to rewarding shareholders.
Analysts have upgraded Bank of America's stock rating, with several firms giving it a "buy" or "outperform" rating, suggesting positive growth prospects.
Institutional investors have been increasing their stakes in Bank of America, signaling confidence in the company's future performance.
Bank of America's stock price has been trading at a relatively stable range, providing a potential opportunity for steady returns.
The company has a solid market capitalization of $314.93 billion, reflecting its position as a major player in the financial services industry.

Bank of America
Bear Case

Investors should be bearish about investing in Bank of America for these reasons:

Bank of America's stock recently traded down by 1.5%, indicating short-term volatility that may pose risks to investors.
The company's dividend payout ratio is relatively high at 35.99%, which could limit future dividend growth or reinvestment in the business.
While the stock has received positive ratings from analysts, there is still a "sell" rating on the stock, suggesting some concerns in the market.
Bank of America's debt-to-equity ratio is 1.09, which may indicate higher financial leverage and potential risks during economic downturns.
Despite recent positive developments, Bank of America's stock has a 52-week high of $44.44, which may limit short-term upside potential for investors.

BAC Forecast - Frequently Asked Questions

: According to the research reports of 22 Wall Street equities research analysts, the average twelve-month stock price forecast for Bank of America is $42.12, with a high forecast of $49.00 and a low forecast of $33.00.
: 22 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Bank of America in the last year. There is currently 1 sell rating, 8 hold ratings, 12 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" BAC shares.
: According to analysts, Bank of America's stock has a predicted upside of 7.37% based on their 12-month stock forecasts.
: Over the previous 90 days, Bank of America's stock had 3 upgrades by analysts.
: Bank of America has been rated by research analysts at Barclays, BMO Capital Markets, Cfra, Deutsche Bank Aktiengesellschaft, Evercore ISI, Keefe, Bruyette & Woods, Morgan Stanley, Piper Sandler, Piper Sandler Companies, and Royal Bank of Canada in the past 90 days.
: Bank of America also publishes sell-side equities research reports and recommendations about other companies, which can be viewed at its brokerage rating page.
: Analysts like Bank of America more than other "finance" companies. The consensus rating for Bank of America is Moderate Buy while the average consensus rating for "finance" companies is Hold. Learn more on how BAC compares to other companies.

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This page (NYSE:BAC) was last updated on 10/2/2024 by MarketBeat.com Staff

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