Barclays Cuts Bank of America (BAC) Price Target to $68

Barclays maintains its Overweight rating on Bank of America with a new price target of $68.0, a 30.58% upside from the current price.

By EarningsIQ Research Desk · Published Oct 15, 2026, 9:18 PM EDT · Updated Oct 16, 2026, 8:15 PM EDT

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Barclays cut its price target on Bank of America Corporation ($BAC) to $68 from $72 on October 15, 2026, and rates the stock "Overweight".

Since the rating, $BAC is down 0.9% to date (from the $51.70 close on Oct 15, 2026).

BAC Bank of America Corporation

$51.23 -6.97% year to date

Daily close · Oct 16, 2026

Key Points

On October 15, Barclays reiterated its Overweight rating on Bank of America (NYSE: BAC) with a price target of $68.0, down from $72.0.
Barclays's $68 price target implies 30.58% upside from Bank of America Corporation's ($BAC) current $52.08 share price.
As of October 16, Bank of America shares are trading at a recent price of $52.08, which is 23.4% below the new target.
In the financial services sector, Bank of America reported a revenue of $113.9 billion and an EPS of $4.33 over the trailing twelve months.

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Barclays has reiterated its Overweight rating on Bank of America Corporation (NYSE: BAC) on October 15, 2026. The firm set a new price target of $68.0, down from $72.0.

Other Institutional Activity in Bank of America

Blackrock Inc. grew its holdings by 6,417,271 shares, ending with 545,683,702 shares worth about $27.9 billion. Vanguard Capital Management LLC increased its stake by 12,127,174 shares, totaling 421,828,996 shares valued at approximately $21.6 billion. State Street Corporation added 4,866,124 shares, bringing its total to 299,782,707 shares worth about $15.4 billion. In contrast, Berkshire Hathaway, Inc. reduced its stake by 30,253,860 shares, holding 483,394,015 shares valued at around $24.8 billion, while FMR, LLC cut its position by 9,309,259 shares, ending with 189,182,396 shares worth about $9.7 billion.

Bank of America Corporation Stock Down 9.8%

Bank of America shares recently traded around $52.08 as of October 16, 2026. This price is 23.4% below Barclays' new target of $68.0. The stock has been under pressure, and this gap between the trading price and the target suggests a potential upside if the market aligns with analyst expectations.

12-month forecast

$BAC price target

Bank of America Corporation daily closes and this analyst's $68 target. Not advice.

Recent Earnings

For the trailing twelve months, Bank of America reported a revenue of $113.9 billion, with a net margin of 29.5% and a return on equity of 11.2%. The company achieved an earnings per share (EPS) of $4.33, showcasing its strong performance in the financial services sector.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

B- 69/100

Reported Apr 15, 2026

Forward outlook
6 analysts raised price targets.
EPS & revenue
EPS beat estimates by 8.6%. Revenue met estimates.
Profit surprise
Operating income missed by 10 percent.
Pre-earnings setup
Expectations were about average.
Analyst signal
6 target raises.
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

Several insiders sold shares earlier this year, including Officer Thomas M Scrivener, who sold 50,000 shares at an average price of $49.82 on March 5, 2026, totaling about $2.49 million. Officer Sheri B Bronstein sold 60,000 shares at an average price of $49.91 on the same day, valued at approximately $2.99 million. Officer Bernard Amponsah Mensah sold 94,000 shares at $46.94 on March 12, 2026, for about $4.41 million. Additionally, Officer Geoffrey S Greener sold 126,756 shares at $53.00 on May 5, 2026, totaling around $6.72 million.

Analysts Set New Price Targets

On October 15, 2026, several firms maintained their ratings on Bank of America. Citigroup maintained a Buy rating with a target of $60.0, down from $66.0. Morgan Stanley kept its Overweight rating with a target of $61.0, lowered from $67.0. Truist Securities also maintained a Buy rating, setting a target of $58.0, down from $62.0. RBC Capital maintained an Outperform rating with a target of $60.0, reduced from $65.0. The consensus recommendation for Bank of America is currently a Buy, with a mean price target of $63.2 from multiple analysts.

About Bank of America

Bank of America Corporation provides a range of financial products and services for consumers, businesses, and governments. Headquartered in Charlotte, NC, it operates through several segments, including Consumer Banking and Global Banking. The company's strong revenue growth and profitability metrics highlight its position in the financial services industry.

Bottom Line

Investors should watch for Bank of America's upcoming earnings report as well as any further analyst updates. With Barclays' new price target set below current trading levels, the stock may experience volatility as it adjusts to market conditions.