NEW YORK, July 6, 2026, 19:03 EDT
- Bank of America finished the session at $59.90, rising 1.99%. Shares hit $59.95 earlier before settling at a new record.
- Fresh price targets from Evercore ISI, JPMorgan, Goldman Sachs and Wells Fargo brought the average closer, but didn’t stretch as far as the headline rally might imply.
- Analyst estimates for Q2 EPS are now at $1.11, up from $1.08 three months ago. Results are expected July 14.
Bank of America Corporation NYSE:BAC set a new all-time high on Monday, though the price is now roughly in line with where many analysts have their targets. Shares finished at $59.90, up 1.99%, after hitting an intraday high of $59.95. Trading came after the New York Stock Exchange’s July 3 Independence Day closure.
Bank of America now sits less than 9% off the average target price listed by MarketScreener, even with several new target hikes reported earlier. MarketScreener puts the mean target at $64.74 from 24 analysts, which means 8.08% upside from the last close.
The stock finished ahead of JPMorgan Chase & Co. NYSE:JPM, which climbed 0.99%, and the Financial Select Sector SPDR Fund (NYSEARCA:XLF), with a 0.94% gain. But it underperformed Citigroup Inc. NYSE:C, up 2.79%, and Wells Fargo & Co. NYSE:WFC, which added 2.28%. The Invesco KBW Bank ETF (NASDAQ:KBWB) rose 1.90%.
New price targets tell the story. Analysts raised their targets, but now some are just a couple dollars over where the stock trades.
| Firm | Latest target move | Target | Implied upside vs $59.90 |
|---|---|---|---|
| Evercore ISI | Target raised to $63 from $61 | $63.00 | 5.2% |
| JPMorgan | Upped target to $62.50 from $57.50 | $62.50 | 4.3% |
| Wells Fargo | Bumped up to $67 from $65 | $67.00 | 11.9% |
| Goldman Sachs | Lifted to $71 from $65 | $71.00 | 18.5% |
MarketScreener on Monday tracked target changes from Evercore ISI, JPMorgan and Goldman Sachs. StockAnalysis pointed to TheFly for Wells Fargo’s move and its rating.
Estimates are higher, though gains remain small. MarketWatch puts the current-quarter EPS forecast at $1.11, up from $1.10 last month and $1.08 three months earlier. Analysts now expect 2026 full-year EPS at $4.48, rising from $4.34 three months ago.
| Forecast item | Current | 1 month ago | 3 months ago | Change vs 3 months ago |
|---|---|---|---|---|
| Q2 2026 EPS | $1.11 | $1.10 | $1.08 | Up 2.8% |
| Q3 2026 EPS | $1.14 | $1.14 | $1.13 | Up 0.9% |
| FY 2026 EPS | $4.48 | $4.46 | $4.34 | Up 3.2% |
| FY 2027 EPS | $5.10 | $5.06 | $4.98 | Up 2.4% |
This is important as the stock has outpaced its earnings model. Without another round of raised forecasts in the July 14 report, the average price target now gives less support for fresh buyers than it did a few weeks back.
The bull case on earnings is tied in part to markets revenue. Bank of America Co-President Jim DeMare said last month that most of the activity and revenues are showing up in the equity business now. He added that “nothing really of any note is being canceled” by corporate clients. Reuters
Bank of America CEO Brian Moynihan spoke to investors last week about rates. “Inflation will take a while, rates will be higher,” he told Fox Business. He said rates are “an outgrowth of a very strong economy.” Fox Business
Bank of America reported first-quarter revenue, net of interest expense, at $30.3 billion with net income reaching $8.6 billion. Diluted EPS was $1.11. Return on tangible common equity came in at 16.0%. The results set a high bar for the stock.
Bank of America plans to put out its second-quarter earnings around 6:45 a.m. ET on July 14. The company set its investor call for 8:30 a.m. ET that same day.
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