RBC Capital Cuts Bank of America (BAC) Price Target to $60
RBC Capital has reiterated its Outperform rating on Bank of America with a price target of $60.0, a 15.22% upside from the current price.
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RBC Capital cut its price target on Bank of America Corporation ($BAC) to $60 from $65 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
Key Points
- RBC Capital reiterated its Outperform rating on Bank of America with a target price of $60.0 on October 15, 2026.
- RBC Capital's $60 price target implies 15.22% upside from Bank of America Corporation's ($BAC) current $52.08 share price.
- The stock recently traded around $52.08, which is about 13.2% below RBC's price target.
- Bank of America reported a revenue of about $113.9 billion and a net margin of 29.5% in its latest financials.
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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
RBC Capital has reiterated its Outperform rating on Bank of America Corporation (NYSE: BAC), maintaining a price target of $60.0 as of October 15, 2026. This target is 13.2% below the stock's recent trading price of $52.08 as of October 16, 2026.
Other Institutional Activity in Bank of America
Several other institutional investors have shown activity with Bank of America shares. Blackrock Inc. grew its holdings by 6.4 million shares, totaling about 545.7 million shares worth approximately $27.9 billion. Vanguard Capital Management LLC added about 12.1 million shares, bringing its total to 421.8 million shares valued at around $21.6 billion. Meanwhile, Berkshire Hathaway, Inc. reduced its stake by 30.3 million shares, ending with 483.4 million shares valued at about $24.8 billion.
Bank of America Corporation Stock Down 9.8%
Bank of America shares are currently trading around $52.08, which is below the $60.0 target set by RBC Capital. The stock has a beta of 1.164, indicating it is slightly more volatile than the market, which could attract investors looking for growth opportunities.
$BAC price target
Bank of America Corporation daily closes and this analyst's $60 target. Not advice.
Recent Earnings
In its most recent financial 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 company achieved a net margin of 29.5% and a return on equity (ROE) of 11.2%. This strong performance reflects its stability and growth potential in the financial services sector.
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 transactions 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 at $49.91 per share. Additionally, on March 12, 2026, Bernard Amponsah Mensah sold 94,000 shares at an average price of $46.94, valued at about $4.41 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, while Morgan Stanley also kept its Overweight rating with a target of $61.0. Truist Securities maintained a Buy rating with a target of $58.0, and Barclays set an Overweight rating with a target of $68.0.
About Bank of America
Bank of America Corporation, headquartered in Charlotte, NC, offers a wide range of financial products and services. It serves individual consumers, small and middle-market businesses, institutional investors, and large corporations through its various segments, including Consumer Banking and Global Wealth & Investment Management.
Bottom Line
Investors will be watching Bank of America's performance closely, especially as it prepares for its next earnings report. With RBC Capital's price target set at $60.0, the stock's current trading position could present opportunities depending on future market conditions.
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Source: RBC Capital's rating change on $BAC (Oct 15, 2026). Written by software, not financial advice. How we make alerts