Baird Rates Bank of America (BAC) Outperform, $62 Price Target
Baird raises Bank of America’s rating and price target, indicating confidence despite shares trading below the new target, a 19.06% upside from the current price.
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Baird rated Bank of America Corporation ($BAC) "Outperform" with a $62 price target on October 15, 2026.
Since the rating, $BAC is down 0.9% to date (from the $51.70 close on Oct 15, 2026).
BAC
Bank of America Corporation
Key Points
- Baird increased its rating on Bank of America to Outperform with a price target of $62 on October 15, 2026.
- Baird's $62 price target implies 19.06% upside from Bank of America Corporation's ($BAC) current $52.08 share price.
- As of October 16, 2026, Bank of America shares were recently trading around $52.08, which is about 16% below the new target.
- The stock has a trailing twelve-month revenue of about $113.9 billion and a dividend yield of 2.5%.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Bank of America Corporation alert may contain errors. Disclosures
Baird raised its rating on Bank of America Corporation (NYSE: BAC) to Outperform with a price target of $62 on October 15, 2026. This upgrade comes as the bank’s shares are currently trading at $52.08 as of October 16, 2026, which is about 16% below the new target price.
Baird's Call on Bank of America
Baird's action reflects a positive outlook for Bank of America, which operates in the financial services sector. The firm maintained its belief in the bank's growth potential, setting a target at $62. This target suggests that Baird sees further upside from current levels despite the shares trading below it.
Other Institutional Activity in Bank of America
Several other institutional investors have also been active with Bank of America shares. Blackrock Inc. grew its holdings by 6,417,271 shares, ending with 545,683,702 shares worth about $27.95 billion. Vanguard Capital Management LLC added 12,127,174 shares, bringing its total to 421,828,996 shares valued at approximately $21.6 billion. In contrast, Berkshire Hathaway, Inc. reduced its stake by 30,253,860 shares, lowering its total to 483,394,015 shares worth about $24.76 billion.
Bank of America Corporation Stock Down 9.8%
Bank of America shares are currently trading at $52.08, a level that is approximately 16% below Baird's new price target of $62. This suggests that analysts see potential for growth, but the current trading price indicates some market caution. The stock has been performing well, with a trailing twelve-month revenue of about $113.9 billion and a dividend rate of $1.28 per share.
$BAC price target
Bank of America Corporation daily closes and this analyst's $62 target. Not advice.
Recent Earnings
In its most recent earnings report, Bank of America posted a trailing twelve-month revenue of approximately $113.9 billion and an earnings per share (EPS) of $4.33. The bank reported a net margin of 29.5% and a return on equity (ROE) of 11.2%. With strong revenue growth of 16.8% year over year, the bank has shown resilience in a competitive market.
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.
Insider Buying and Selling at Bank of America Corporation
Recent insider trades at Bank of America include several officers selling shares. On March 5, 2026, Thomas M Scrivener sold 50,000 shares at an average price of $49.82, totaling about $2.49 million. Sheri B Bronstein also sold 60,000 shares on the same day for approximately $2.99 million. Additionally, Bernard Amponsah Mensah sold 94,000 shares at $46.94 each on March 12, totaling about $4.41 million.
Analysts Set New Price Targets
On October 15, 2026, several firms maintained their ratings on Bank of America. Citigroup kept a Buy rating with a target of $60, while Morgan Stanley maintained an Overweight rating with a target of $61. Truist Securities also maintained a Buy rating but adjusted its target to $58. RBC Capital kept its Outperform rating and set a target of $60, and Barclays maintained an Overweight rating with a target of $68.
About Bank of America
Bank of America Corporation provides a wide range of financial services, including banking and investment solutions for consumers and businesses. With a significant presence across various segments, including Consumer Banking and Global Wealth & Investment Management, the bank plays a vital role in the financial services industry. The recent rating upgrade by Baird reflects optimism about its future performance.
Bottom Line
Investors will be watching how Bank of America performs against the new price target of $62 set by Baird. The next earnings report is anticipated, which could provide further insights into the bank's financial health and market position.
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Source: Baird's rating change on $BAC (Oct 15, 2026). Written by software, not financial advice. How we make alerts