Truist Securities Rates Bank of America (BAC) buy
Truist Securities analyst John McDonald reiterates a buy rating on Bank of America Corporation with a $64.00 target, a 12.32% upside from the current price.
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Truist Securities rated Bank of America Corporation ($BAC) "buy" with a $64 price target on June 26, 2026.
Since the rating, $BAC is up 3.5% after 1 week, up 7.3% after 1 month and down 11.0% to date (from the $57.59 close on Jun 26, 2026).
BAC
Bank of America Corporation
Key Points
- Truist Securities analyst John McDonald reaffirmed a buy rating on Bank of America Corporation (NYSE: BAC) on June 26, 2026, setting a price target of $64.00.
- Truist Securities's $64 price target implies 12.32% upside from Bank of America Corporation's ($BAC) current $56.98 share price.
- Bank of America shares recently traded at $56.98, leaving a notable gap between the current market price and the analyst target.
- Wall Street sentiment remains generally favorable, with 21 analyst opinions pointing to a consensus recommendation of buy and a mean price target of $68.86.
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Truist Securities Sets $64 Target on Bank of America
Truist Securities has reaffirmed its positive stance on Bank of America Corporation (NYSE: BAC), with analyst John McDonald reiterating a buy rating on June 26, 2026. The firm anchored its outlook with a $64.00 price target. This call puts the spotlight squarely on the gap between current trading levels and where the firm expects the banking giant to head.
Truist Securities vs. the S&P 500
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Stock Valuation and Price Gap
Bank of America shares recently changed hands at $56.98. That price sits below the new $64.00 target from Truist Securities, offering a clear look at the upside the firm envisions. The stock trades near the middle of its 52-week range, which stretches from a low of $46.12 up to a high of $65.23. Based on trailing results, the company carries a price-to-earnings ratio of 13.39, while its forward P/E sits at 10.96.
$BAC price target
Bank of America Corporation daily closes and this analyst's $64 target. Not advice.
Wall Street Ratings and Peer Updates
Other major financial institutions also recently reviewed their stances on the Charlotte-based lender. On October 15, 2026, Citigroup maintained a buy rating while adjusting its target to $60.00 from $66.00. On the same day, Morgan Stanley kept an overweight rating with a target shifted to $61.00 from $67.00. Truist Securities also updated its views on October 15, keeping a buy rating with a target moved to $58.00 from $62.00. RBC Capital maintained an outperform rating and moved its target to $60.00 from $65.00. Barclays kept an overweight rating with a target shifted to $68.00 from $72.00, while Wells Fargo kept an overweight rating with a target moved to $64.00 from $69.00. TD Cowen maintained a hold rating and lowered its target to $56.00 from $60.00, and Evercore ISI Group kept an outperform rating with a target moved to $57.00 from $62.00.
Inside Bank of America Operations
Headquartered in Charlotte, North Carolina, Bank of America provides financial products and services to consumers, small businesses, institutional investors, and governments through operations spanning consumer banking, wealth management, commercial banking, and global markets. The bank draws on a workforce of 211,000 employees to run its vast branch and digital network. Its extensive reach across lending, trading, and asset management makes it a primary barometer for the broader financial sector.
Looking Ahead to Earnings and Market Sentiment
Market participants are monitoring upcoming financial updates and broader economic indicators to gauge future momentum. The company is next scheduled to report earnings on October 14, 2026. With a consensus recommendation of buy derived from 21 analyst opinions and a mean price target of $68.86, coverage remains broad across major financial institutions.
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.
Related Filing Alerts
Source: Truist Securities's rating change on $BAC (Jun 26, 2026). Written by software, not financial advice. How we make alerts