Bank of America Corp (NYSE:BAC) reported upbeat earnings for the first quarter on Wednesday.
The company posted quarterly earnings of $1.11 per share which beat the analyst consensus estimate of $1.00 per share. The company reported quarterly sales of $30.272 billion which beat the analyst consensus estimate of $29.931 billion.
Chairman and CEO Brian Moynihan said the company entered 2026 with strong momentum, delivering a 25% year-over-year increase in earnings per share and $8.6 billion in net income, driven by disciplined execution. He added that the bank generated 290 basis points of operating leverage, supporting improvements in returns on equity and assets.
Bank of America shares slipped 0.1% to trade at $54.28 on Thursday.
These analysts made changes to their price targets on Bank of America following earnings announcement.
- Keefe, Bruyette & Woods analyst Chris Mcgratty maintained Bank of America with an Outperform rating and raised the price target from $63 to $64.
- Truist Securities analyst John McDonald maintained the stock with a Buy and raised the price target from $57 to $61.
- Evercore ISI Group analyst Glenn Schorr maintained Bank of America with an Outperform rating and raised the price target from $55 to $61.
Considering buying BAC stock? Here’s what analysts think:
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