Bill Gross warns on gold momentum as regional bank stocks tumble
Bank of America Corp’s stock reached a new 52-week high, hitting 50.77 USD. The banking giant, with a market capitalization of $375.75 billion, has delivered impressive returns with a 16.29% gain year-to-date and maintains a healthy dividend yield of 2.22%. This milestone reflects a significant upward trajectory for the financial institution, marking a 24.52% increase over the past year. The stock’s performance underscores investor confidence and strong market positioning, as it continues to climb from previous levels. Trading at a P/E ratio of 14.67, with 11 consecutive years of dividend increases, Bank of America demonstrates consistent shareholder value creation. According to InvestingPro analysis, the stock appears slightly undervalued based on its Fair Value model, with 8 additional exclusive insights available to subscribers.
In other recent news, Freedom Broker has raised its price target for Bank of America to $56.50, up from $47.00, while maintaining a Buy rating. This adjustment is attributed to sector tailwinds and is based on a forward price-to-earnings ratio of 12.5x and projected earnings per share of $4.50 for the period from the third quarter of 2026 through the second quarter of 2027. Additionally, Bank of America analysts have identified potential upside for the British pound and Australian dollar, noting a cautious positioning among investors. The bank has also revised its outlook on the Japanese yen, considering recent U.S. labor data and developments in Japanese politics, which present two-way risks to its bullish USD/JPY forecast.
Meanwhile, the New York Attorney General has filed a lawsuit against Early Warning Services, LLC, the operator of Zelle, for allegedly failing to protect users from a $1 billion fraud scheme. Early Warning Services is co-owned by several major U.S. banks, including Bank of America. In another development, the White House is preparing an executive order to investigate banks for alleged political discrimination, with President Trump claiming financial institutions have discriminated against him and his supporters. This order could lead to monetary penalties or other disciplinary actions against banks found in violation.
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