Bank of America Corp (NYSE:BAC) shares are trading lower by 0.43% to $45.64 in December but are higher by 34% on a year-to-date basis. The company has received a number of analyst rating updates in recent sessions and was named an official partner for the FIFA Club World Cup 2025 last week.
Bank of America on Tuesday also announced corporate clients are set to surpass $1 trillion in payment approvals on the CashPro App by the end of 2024, marking a 25% year-over-year increase.
The app's rising adoption reflects its enhanced security, convenience and the value it provides in managing treasury operations, according to Tom Durkin, Global Head of CashPro at Bank of America. The company says the app has 550,000 users across 40,000 companies.
What's Happening: Morgan Stanley analyst Betsy Graseck downgraded Bank of America from Overweight to Equal-Weight and raised its price target from $48 to $55.
Keefe, Bruyette & Woods last week raised the price target for Bank of America from $50 to $57, maintaining an Outperform rating. Piper Sandler also last week raised their price target from $44 to $50, keeping a Neutral rating.
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Last week, Bank of America was announced as an Official Partner for the FIFA Club World Cup 2025, featuring 32 top football clubs. Matches will run from June 15 to July 13, 2025, across 11 U.S. cities, starting in Miami and ending in New York/New Jersey.
FIFA President Gianni Infantino praised the partnership, emphasizing its alignment with FIFA's mission and potential benefits for host communities. Bank of America Chair and CEO Brian Moynihan highlighted the value of associating with major sporting events to boost client relationships and global economic impact.
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How To Buy BAC Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Bank of America's case, it is in the Financials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, BAC has a 52-week high of $48.08 and a 52-week low of $30.45.
