<div id="readability-page-1"><p><span>Bank of America (NYSE:BAC)</span> had its price target lowered by equities researchers at Truist Financial  from $53.00 to $50.00 in a research report issued on Friday,Benzinga reports. The firm presently has a &#34;buy&#34; rating on the financial services provider's stock. Truist Financial's price target suggests a potential upside of 47.25% from the company's previous close.</p><div><p><span></span><span>Get <strong>Bank of America</strong> alerts:</span></p></div><ul><li>Intel’s Big Bet on 18A: Will Lip-Bu Tan’s Vision Pay Off?</li></ul><p>A number of other equities analysts have also recently commented on BAC. HSBC raised Bank of America from a &#34;hold&#34; rating to a &#34;buy&#34; rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. Baird R W raised shares of Bank of America from a &#34;hold&#34; rating to a &#34;strong-buy&#34; rating in a report on Friday, March 7th. UBS Group upgraded shares of Bank of America from a &#34;neutral&#34; rating to a &#34;buy&#34; rating and upped their price target for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. Morgan Stanley upped their price target on shares of Bank of America from $54.00 to $56.00 and gave the company an &#34;equal weight&#34; rating in a research note on Friday, January 17th. Finally, Hsbc Global Res upgraded Bank of America from a &#34;hold&#34; rating to a &#34;strong-buy&#34; rating in a research report on Tuesday, January 7th. One investment analyst  has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned  a buy rating and three have issued  a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of &#34;Moderate Buy&#34; and a consensus price target of $48.31.</p><p><b>Read Our Latest Stock Report on Bank of America</b></p><h2>Bank of America Stock Down 8.8 %</h2><ul><li>From Trading to Checking Accounts: Robinhood's Big Bet on Banking</li></ul><p>NYSE:BAC traded down $3.27 during trading hours on Friday, reaching $33.96. 26,004,133 shares of the company traded hands, compared to its average volume of 37,500,294. The stock has a market capitalization of $258.15 billion, a P/E ratio of 10.57, a P/E/G ratio of 1.21 and a beta of 1.32. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The business's 50-day moving average price is $43.99 and its two-hundred day moving average price is $43.91. Bank of America has a 1 year low of $33.96 and a 1 year high of $48.08. </p><p>Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter last year, the firm posted $0.70 earnings per share. The firm's revenue was up 15.0% compared to the same quarter last year.  Analysts predict that  Bank of America will post 3.7 earnings per share for the current year. </p><h2>Hedge Funds Weigh In On Bank of America</h2><ul><li>Should You Buy UPS Stock Now? Deep Dive Into Its 5-Year Low</li></ul><p>Several hedge funds and other institutional investors have recently made changes to their positions in BAC. Collier Financial acquired a new position in  Bank of America in the 4th quarter valued at $25,000.  Life Planning Partners Inc grew its stake in shares of  Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock valued at $25,000 after buying an additional 545,936 shares during the period.  Graney &amp; King LLC acquired a new stake in shares of  Bank of America during the 4th quarter worth approximately $25,000.  Fairway Wealth LLC purchased a new position in  Bank of America in the fourth quarter worth approximately $29,000.  Finally, Vega Investment Solutions purchased a new stake in  Bank of America in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own  70.71% of the company's stock. </p><h2>Bank of America Company Profile</h2> (Get Free Report)<p>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 &amp; Investment Management (GWIM), Global Banking, and Global Markets.</p><h2>Further Reading</h2><ul><li>Five stocks we like better than Bank of America</li><li>What is the S&amp;P/TSX Index?</li><li>Are Short Sellers Wrong About These 3 Semiconductor Stocks?</li><li>What is a Secondary Public Offering? What Investors Need to Know</li><li>Boeing Gets $50B in March Orders—Is BA Stock a Buy Now?</li><li>3 Warren Buffett Stocks to Buy Now</li><li>2 High-Yield Values for Dividend Growth and Capital Gains</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUJBQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="330" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUJBQw"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Bank of America Right Now?</h2><p>Before you consider Bank of America, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of America wasn't on the list.</p><p>While Bank of America currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

<p>Truist Financial has lowered its price target for Bank of America (NYSE:BAC) from $53.00 to $50.00 while maintaining a "buy" rating. This suggests a potential upside of 47.25% from the previous close. Other analysts have also upgraded their ratings, with an average consensus price target of $48.31. Bank of America shares recently traded down 8.8% to $33.96, with a market cap of $258.15 billion. The company reported earnings of $0.82 per share, exceeding estimates, and revenue of $25.30 billion for the last quarter.</p>

- Truist Financial lowered Bank of America's price target from $53.00 to $50.00 while maintaining a "buy" rating, indicating a potential upside of 47.25%.  
- Other analysts have also upgraded their ratings, with HSBC and Baird R W moving to "buy" and "strong-buy" ratings, respectively.  
- Bank of America reported a quarterly EPS of $0.82, exceeding estimates, with a revenue increase of 15.0% year-over-year, and currently has a market capitalization of $258.15 billion.

Bank of America (NYSE:BAC) Price Target Cut to $50.00 by Analysts at Truist Financial