Evercore ISI Group Cuts Bank of America (BAC) Price Target to $57

Evercore ISI Group has reiterated its Outperform rating on Bank of America with a revised price target of $57.0, a 9.46% 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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Evercore ISI Group cut its price target on Bank of America Corporation ($BAC) to $57 from $62 on October 15, 2026, and rates the stock "Outperform".

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, 2026, Evercore ISI Group reiterated its Outperform rating on Bank of America, setting a price target of $57.0, down from $62.0.
Evercore ISI Group's $57 price target implies 9.46% upside from Bank of America Corporation's ($BAC) current $52.08 share price.
As of October 16, 2026, Bank of America shares traded around $52.08, which is 8.6% below the new price target.
The company has a trailing twelve-month revenue of $113.9 billion and an earnings per share of $4.33.

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Evercore ISI Group has reiterated its Outperform rating on Bank of America Corporation (NYSE: BAC) on October 15, 2026, and set a new price target of $57.0, down from $62.0. This decision comes as the stock is currently trading at around $52.08, which is 8.6% below the target price.

Analysts Set New Price Targets

On the same day, several other firms also maintained their ratings on Bank of America. Citigroup kept a Buy rating with a target of $60.0, while Morgan Stanley maintained an Overweight rating with a target of $61.0. Truist Securities also upheld its Buy rating with a target of $58.0. RBC Capital retained its Outperform rating with a target of $60.0, and Barclays maintained an Overweight rating with a target of $68.0.

Other Institutional Activity in Bank of America

In the latest filings, Blackrock Inc. grew its holdings by 6.4 million shares, ending with 545.7 million shares worth about $27.9 billion. Vanguard Capital Management LLC added 12.1 million shares, bringing its total to 421.8 million shares valued at approximately $21.6 billion. Meanwhile, Berkshire Hathaway, Inc. reduced its stake by 30.3 million shares, now holding 483.4 million shares worth about $24.8 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 notable as it is below the newly set target of $57.0. The stock's performance will be closely watched given its recent ratings from analysts and the overall market conditions.

12-month forecast

$BAC price target

Bank of America Corporation daily closes and this analyst's $57 target. Not advice.

Recent Earnings

For the trailing twelve months, Bank of America reported a revenue of approximately $113.9 billion and an earnings per share (EPS) of $4.33. The company achieved a net margin of 29.5% and a return on equity of 11.2%. The next earnings report is expected soon, which may provide further insights into its performance.

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

Insider trading activity at Bank of America shows several officers selling shares earlier this year. Thomas M Scrivener sold 50,000 shares at an average price of $49.82 on March 5, 2026, totaling about $2.5 million. Sheri B Bronstein sold 60,000 shares at an average price of $49.91, amounting to around $2.99 million on the same day. Bernard Amponsah Mensah sold 94,000 shares at $46.94, totaling about $4.41 million on March 12, 2026. Geoffrey S Greener sold 126,756 shares at $53.00, valued at approximately $6.72 million on May 5, 2026.

About Bank of America

Bank of America Corporation is a leading financial institution that offers a wide range of financial products and services for consumers, businesses, and governments worldwide. The company operates through multiple segments, including Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets. Its diverse services make it a key player in the financial services sector.