Baird Upgrades Bank of America (BAC)
Fintel reports that on March 7, 2025, Baird upgraded their outlook for Bank of America (NYSE:BAC) from Neutral to Outperform.
Analyst Price Forecast Suggests 26.40% Upside
As of March 4, 2025, the average one-year price target for Bank of America is $52.41/share. The forecasts range from a low of $34.24 to a high of $61.95. The average price target represents an increase of 26.40% from its latest reported closing price of $41.46 / share.
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The projected annual revenue for Bank of America is 109,314MM, an increase of 13.79%. The projected annual non-GAAP EPS is 4.43.
What is the Fund Sentiment?
There are 4,602 funds or institutions reporting positions in Bank of America. This is an increase of 320 owner(s) or 7.47% in the last quarter. Average portfolio weight of all funds dedicated to BAC is 0.69%, an increase of 102.06%. Total shares owned by institutions increased in the last three months by 3.28% to 6,412,886K shares. 
The put/call ratio of BAC is 1.06, indicating a bearish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 680,234K shares representing 8.94% ownership of the company. In its prior filing, the firm reported owning 797,683K shares , representing a decrease of 17.27%. The firm decreased its portfolio allocation in BAC by 5.83% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 216,279K shares representing 2.84% ownership of the company. In its prior filing, the firm reported owning 221,362K shares , representing a decrease of 2.35%. The firm increased its portfolio allocation in BAC by 6.65% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 180,696K shares representing 2.38% ownership of the company. In its prior filing, the firm reported owning 176,813K shares , representing an increase of 2.15%. The firm increased its portfolio allocation in BAC by 7.09% over the last quarter.
Jpmorgan Chase holds 169,884K shares representing 2.23% ownership of the company. In its prior filing, the firm reported owning 149,404K shares , representing an increase of 12.06%. The firm increased its portfolio allocation in BAC by 23.41% over the last quarter.
Geode Capital Management holds 142,289K shares representing 1.87% ownership of the company. In its prior filing, the firm reported owning 140,256K shares , representing an increase of 1.43%. The firm increased its portfolio allocation in BAC by 7.70% over the last quarter.
Bank Of America Background Information
(This description is provided by the company.)
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 2,900 lending centers, 2,500 financial centers with a Consumer Investment Financial Solutions Advisor and approximately 2,300 business centers; approximately 17,000 ATMs; and award-winning digital banking with approximately 39 million active users, including approximately 31 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
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This story originally appeared on Fintel.