Truist Securities Reiterates Buy Rating on Bank of America
Truist Securities maintains its buy rating for Bank of America with a $64 price target, a 12.32% upside from the current price.
Key Points
- Truist Securities reiterated its buy rating for Bank of America with a $64 price target on June 26, 2026.
- Truist Securities's $64 price target implies 12.32% upside from Bank of America Corporation's ($BAC) current $56.98 share price.
- Shares of NYSE:BAC traded near $58.19 on Friday, with a market cap of $412.95 billion and a P/E ratio of 14.44.
- Major institutional investors like BlackRock and Berkshire Hathaway slightly reduced their holdings in Bank of America.
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Truist Securities has reiterated its buy rating on Bank of America Corporation (NYSE:BAC), setting a price target of $64. This update from analyst John McDonald came on June 26, 2026. The reaffirmed buy rating suggests continued confidence in the bank's performance.
Truist Securities vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
Other Institutional Activity in Bank of America
Several major institutional investors have recently adjusted their positions in Bank of America. BlackRock, Inc. trimmed its holdings by 3,217,508 shares, bringing its total to 539,258,516 shares valued at approximately $26.29 billion, reflecting a 0.6% decrease. Berkshire Hathaway Inc. also reduced its stake by 3,671,769 shares, now holding 513,624,165 shares worth about $25.04 billion, a 0.7% decrease. Meanwhile, Vanguard Capital Management LLC opened a new position with 409,704,665 shares valued at around $19.97 billion. State Street Corp decreased its holdings by 4,590,520 shares, ending with 301,309,309 shares valued at $14.38 billion, marking a 1.5% decrease. FMR LLC cut its position by 16,296,846 shares to 198,484,617 shares, worth approximately $9.68 billion, a 7.6% reduction.
Bank of America Corporation Stock Down 8.6%
Shares of Bank of America (NYSE:BAC) traded near $58.19 on Friday. The company has a market capitalization of $412.95 billion, with a P/E ratio of 14.44 and a forward P/E of 11.45. The stock's beta is 1.196, indicating higher volatility compared to the market. Over the past year, the shares have ranged from a low of $44.75 to a high of $59.20. The 50-day moving average is $53.24, and the 200-day moving average is $52.39.
$BAC price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Bank of America reported revenues of $109.59 billion with a revenue growth rate of 8.1%. The net margin stands at 28.96%, and the return on equity (ROE) is 10.64%. Earnings per share (EPS) is reported at $4.03. The next earnings release is scheduled for July 14, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
6 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 8.6%. Revenue met estimates.
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Profit surprise
Operating income missed by 10 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
6 target raises.
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Earnings quality
Gross margin up 40.5 points. Operating margin up 17.1 points. Positive free cash flow.
Earnings Call Summary
Bank of America delivered strong first quarter results with revenue up seven percent year over year to thirty point three billion dollars and earnings per share up twenty five percent to one dollar and eleven cents. The bank benefited from robust client activity, improved efficiency with operating leverage of two hundred ninety basis points, and stable asset quality with provision expense down to one point three billion. Management highlighted strength across all business segments, particularly in investment banking which was up twenty one percent, equities trading which had its best quarter ever, and wealth management which showed solid client flows and margin improvement.
Guidance Bank of America raised its full year net interest income growth guidance to six to eight percent from prior expectations. The bank expects continued balanced loan and deposit growth to support this outlook, with net interest income already up nine percent year over year in the first quarter. Management noted that net interest income exceeded expectations at fifteen point nine billion dollars.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
The company offers an annual dividend rate of $1.12 per share, yielding 1.92%. The dividend payout ratio is 27.3%.
Insider Buying and Selling at Bank of America Corporation
Brian Moynihan, Chair and CEO of Bank of America, was involved in multiple transactions. On June 15, 2026, he sold 18,083 shares at an undisclosed price and later bought the same amount. On May 15, 2026, he also sold 18,083 shares, this time at $49.77, and bought the same number of shares.
Analysts Set New Price Targets
On June 26, 2026, Truist Securities maintained its buy rating on Bank of America with a $64 price target. A few days earlier, on June 23, Citigroup also maintained a buy rating, setting a target price of $66. The consensus among analysts remains strong, with a mean target price of $63.57 and a strong buy recommendation.
About Bank of America
Bank of America Corporation, headquartered in Charlotte, North Carolina, is a leading financial institution serving individuals, small and mid-sized businesses, and large corporations. It operates through four main segments: Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets, offering a wide range of financial services. The company is led by CEO Brian Moynihan and employs approximately 212,000 people worldwide.
Bottom Line
Truist Securities' reiterated buy rating for Bank of America underscores the ongoing confidence in the bank's financial health and market position. As a major player in the financial services sector, Bank of America's performance and strategic moves are closely watched by investors. This analyst update reflects past performance and is part of routine market analysis.
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