Updated Nov. 12, 2025, 18:46 UTC
Bank of America stock (NYSE: BAC) traded higher on Wednesday, up around 1.2% to $54.29 as of 18:46 UTC, after touching an intraday high of $54.68. If gains hold, BAC is on track for its highest close since November 24, 2006—an eye‑catching milestone for one of Wall Street’s bellwether banks. [1]
What’s moving BAC today
- Fed cut expectations firm up. A fresh Reuters survey shows 80% of economists now expect the Federal Reserve to lower rates again on December 10, citing a cooling U.S. labor market. Lower policy rates typically ease funding costs and can support bank loan growth and credit quality, a constructive backdrop for large lenders like BofA. [2]
- Macro and momentum. With BAC pushing above prior 52‑week highs—the 52‑week range now spans roughly $33.06 to $53.99—technical momentum is attracting follow‑through interest. Today’s tape has already extended beyond that prior range intraday. [3]
- Consumer spending pulse. Separate reporting today highlighted that U.S. card spending rose at the fastest pace since early 2024 based on aggregated Bank of America data—a signal that household demand remains resilient heading into year‑end, which tends to support bank fee income and credit trends. [4]
The latest price snapshot
- Price (18:46 UTC): $54.29, +1.2% on the day
- Intraday range: $53.68 – $54.68
- Prior close: $53.63
Source: real‑time market data.
Company news you should know today (Nov. 12)
- Legal win in Florida mortgage‑tax case. A Florida appeals court ruled Bank of America is not liable for more than $5 million in documentary stamp taxes tied to certain refinanced and renewed mortgages. The panel held that obligations under the original loans were rolled into new instruments, undercutting the state’s argument that fresh tax should be levied on the full balances. While the dollar amount is modest for a bank BofA’s size, the precedent could influence future structuring and tax liability on similar transactions in the state. [5]
- Private Bank publishes ‘Modern Family Office’ study. Bank of America Private Bank released a new study showing nearly 60% of North American family offices expect a leadership transition within the next decade, with a growing role for AI in investment research and operations. The report underscores BofA’s continued push in wealth management and advisory—areas management says will be long‑term growth engines. [6]
Context from last week’s Investor Day (why it still matters)
Investors are still digesting targets laid out at BofA’s first Investor Day since 2011:
- Profitability: medium‑term ROTCE target of 16–18%, up from “mid‑teens.”
- Growth: long‑term plans to lift market share in investment banking/trading and reinvest a large block of low‑yield assets at higher rates over time.
These commitments were designed to narrow the gap with top‑performing peers and set a more ambitious earnings path for 2026–2030. Today’s breakout to cycle highs suggests the market sees progress toward those goals. [7]
How macro could shape BAC into year‑end
- Rates path: A December cut would mark the third consecutive move lower and could buoy loan demand into 2026; the flip side is that falling rates can compress net interest margins if asset yields reset faster than funding costs. Positioning therefore hinges on BofA’s asset repricing and deposit mix—both areas management addressed at Investor Day. [8]
- Consumer trends: Bank of America’s recent Institute updates and today’s third‑party reporting point to steady card spending growth this fall, a positive indicator for transaction fees and credit performance—especially if holiday spending remains resilient. [9]
BAC, at a glance today
- Momentum: On pace for highest close since 2006, a rare technical milestone that often draws incremental interest from momentum‑oriented funds. [10]
- 52‑week range:$33.06 – $53.99 (with a new intraday high above that range today). [11]
- Key near‑term catalyst: The Dec. 10 FOMC decision and the October CPI release due Nov. 13 (U.S. time) will update the rates trajectory that banks trade against. [12]
What to watch next
- Follow‑through above $54.56–$54.60. Closing strength above the 2006 high watermark (historical reference point cited in today’s tape) would reinforce the breakout narrative into year‑end. [13]
- Regulatory/legal updates. Any further developments stemming from Florida’s mortgage‑tax ruling—or other ongoing matters—could affect outlooks for fee income, costs, or business practices in key states. [14]
- Consumer‑spending prints & holiday updates. Watch for new releases from the Bank of America Institute and independent trackers on November retail activity; sustained strength would support the bull case for bank earnings quality into 2026. [15]
Bottom line
Bank of America shares are climbing on November 12 as investors lean into a friendlier policy backdrop and continued consumer resilience—while still weighing whether the bank’s newly raised profitability and growth targets are achievable on the timeline management outlined last week. With BAC flirting with levels last seen in 2006, the next few sessions—bookended by CPI and the Fed meeting countdown—will be pivotal for confirming the breakout. [16]
This article is for informational purposes only and does not constitute investment advice. Prices and market data are as of the time stated above.
References
1. www.morningstar.com, 2. www.reuters.com, 3. www.barchart.com, 4. www.bloomberg.com, 5. news.bloombergtax.com, 6. newsroom.bankofamerica.com, 7. www.reuters.com, 8. www.reuters.com, 9. institute.bankofamerica.com, 10. www.morningstar.com, 11. www.barchart.com, 12. www.reuters.com, 13. www.morningstar.com, 14. news.bloombergtax.com, 15. institute.bankofamerica.com, 16. www.barrons.com
