--- title: "Weekly Recap | Bank of America +0.58%, most brokers rate it buy" type: "News" locale: "en" url: "https://longbridge.com/en/news/298095754.md" description: "Bank of America (BAC) rose 0.58% this week to close at $62.68, outperforming the S&P 500 by about 0.49 percentage points. Trading was choppy rather than directional: Monday (Aug 31) drifted lower to $61.94, Tuesday (Sep 1) touched a weekly low of $61.724, Wednesday (Sep 2) spiked to a weekly high of $63.55, Thursday (Sep 3) settled near the upper end at $63.04, and Friday (Sep 4) eased back to $62.68. Average daily volume came in around 30.7m shares, roughly 2." datetime: "2026-09-05T06:12:43.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/298095754.md) - [en](https://longbridge.com/en/news/298095754.md) - [zh-HK](https://longbridge.com/zh-HK/news/298095754.md) generator: "portal-rs" --- # Weekly Recap | Bank of America +0.58%, most brokers rate it buy ## The Week Bank of America (BAC) rose 0.58% this week to close at $62.68, outperforming the S&P 500 by about 0.49 percentage points. Trading was choppy rather than directional: Monday (Aug 31) drifted lower to $61.94, Tuesday (Sep 1) touched a weekly low of $61.724, Wednesday (Sep 2) spiked to a weekly high of $63.55, Thursday (Sep 3) settled near the upper end at $63.04, and Friday (Sep 4) eased back to $62.68. Average daily volume came in around 30.7m shares, roughly 2.8% above the 60-day median, so there was no meaningful pickup in activity. ## Key Events Bank of America’s own news this week centred on capital and debt management. On Friday, 4 September, the bank announced redemptions of two sets of notes due September 2027: one covering CAD425m floating-rate senior notes and CAD1bn 1.978% fixed/floating-rate senior notes, the other covering $500m floating-rate senior notes and $1.5bn 5.933% fixed/floating-rate senior notes. The same day, Bank of America appeared as lead arranger on a $3bn 364-day revolving credit facility for Venture Global LNG. The bank also lifted its voting rights stake in Lanxess to 7.61% from 6.9%, while trimming its stake in Scout24 to 6.93% from 8.75%. Elsewhere, Syon Capital added to its Bank of America holding. Taken together, the week was about institutional positioning and routine debt adjustments, with no major fundamental announcements. ## Analyst Ratings As of 3 September, 15 brokers rate Bank of America a buy, 5 rate it overweight, and 4 rate it hold, for a total of 24, with none at underweight or sell. The consensus recommendation is buy, and the consensus target price is $68.77273, about 9.72% above the latest price of $62.68. The target range runs from $62 to $75, which is not especially wide. Within the diversified banks industry, Bank of America ranks 3rd out of 60 covered names, placing it near the top of the peer group. ## The Week Ahead No Bank of America earnings are due next week; the nearest results are the fiscal third-quarter release on 14 October. On the macro side, NFIB small business optimism arrives on Tuesday, 8 September, followed on Thursday, 10 September by the 10-year Treasury auction, initial jobless claims, and PPI data. For bank shares, the 10-year yield and credit demand signals deserve attention, as they can shape net interest margin expectations. ## In Short Bank of America posted a modest gain this week and beat the broader market, but the tape never settled into a clear trend—it was mostly range-bound between $62 and $63. Broker ratings skew positive, with the consensus target about 9.7% above spot and a strong industry ranking. The debt redemptions and stake adjustments disclosed this week do not change the fundamental picture. The next tests are the PPI and 10-year auction on 10 September, followed by the October earnings print for net interest margin and credit costs. *This article is generated by LongbridgeAI from market data, for information only and not investment advice.* ### Related Stocks - [BAC.US](https://longbridge.com/en/quote/BAC.US.md) ## Related News & Research - [What banks can learn from Fincen's penalty against BofA](https://longbridge.com/en/news/302399339.md) - [BofA's Borthwick Says Consent Order Neither Has An Asset Cap Nor It Crowds Out Anything Else](https://longbridge.com/en/news/301866970.md) - [Bank Of America Spokesperson Q3 Results Will Include Non-Tax-Deductible Charge Of $1.2 Billion Impacting Net Income By About 17 Cents Per Share](https://longbridge.com/en/news/301752481.md) - [BUZZ-Street View: Magnitude of BofA money laundering fine significant](https://longbridge.com/en/news/301817555.md) - [BUZZ-BofA shares fall after $1.2 bln Treasury-related settlement charge](https://longbridge.com/en/news/301816610.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**