Bank of America (NYSE: BAC) shares closed higher on Friday, November 21, 2025, continuing a multi-month upward trend that has seen the stock approach the top of its 52-week range.
At the close of trading, BAC was priced at $51.56, up by 1.1% from Thursday’s $51.00 close. This gain came as the broader financial sector participated in a market rebound, with both the S&P 500 and Dow Jones seeing gains of around 1%.
Key Data for BAC Stock (November 21, 2025)
| Metric | Value |
|---|---|
| Closing Price | $51.56 |
| Daily Change | +1.10% |
| Intraday Range | $50.70 – $51.78 |
| Volume | ~43.7 million shares |
| 52-week Range | $33.06 – $54.69 |
| Distance from 52-week Low | +56% |
| Distance from 52-week High | -6% |
| 50-day Moving Average | $51.74 |
| 200-day Moving Average | $46.27 |
Although BAC is trading just under its 50-day moving average, it remains well above its 200-day line, suggesting a broadly positive technical trend.
BAC Valuation and Dividend
- Trailing P/E: 13–14x earnings
- Forward P/E (FY1): 11–12x based on 2026 estimates
- Dividend: $0.28 per share, quarterly
- Next Ex-Dividend Date: December 5, 2025
- Forward Dividend Yield: 2.1–2.3%
Recent Performance
Despite a slight dip on Thursday (November 20), when Oppenheimer reduced its price target from $57 to $55, BAC remains solidly within its 52-week range. The stock had previously set a new 52-week high of $54.69 on November 12, and analysts remain generally positive.
Notably, Evercore ISI raised its target to $55, maintaining an “Outperform” rating, while several other prominent firms have revised their targets upwards, indicating a continued positive outlook for BAC.
Earnings Momentum
Bank of America’s third-quarter results for 2025 remain the key driver of its 2025 rally. Key highlights include:
- Revenue (net of interest expense): $28.1–28.2 billion, up 11% year-on-year
- Net Income: $8.5 billion
- Diluted EPS: $1.06, beating consensus estimates of $0.95
- EPS Growth: +23–31% YoY
- Return on Tangible Common Equity (ROTCE): 15.4%
The growth was driven by strong performances in investment banking, with revenue up 43%, and net interest income (NII), which reached a record $15.4 billion, up 9% from last year.
Macro Factors: Fed’s Potential Rate Cuts
The Federal Reserve remains a key factor for BAC and other large banks. After holding the federal funds rate steady for most of 2025, recent comments from the New York Fed President, John Williams, suggest the possibility of another rate cut in December. This would likely help maintain loan demand and support BAC’s NII, though it may also pressure margins over time.
Recent Developments at Bank of America
In addition to strong financial results, Bank of America has made several announcements recently:
- 2025 Business Owner Report: The report revealed that small and mid-sized business owners are cautiously optimistic about the year ahead, with 74% expecting revenue growth and 43% planning to hire.
- Wildfire Relief: BAC has extended mortgage forbearance and introduced a “Rebuild Line of Credit” for homeowners affected by the Eaton and Palisades wildfires in Los Angeles.
- Sports Partnerships: On November 19, BAC announced a multi-year partnership with Sir David Beckham, which aims to strengthen its global sports initiatives.
- Investor Day 2025: During the event, BAC outlined its focus on digital investments, AI-driven efficiencies, and disciplined capital returns, including dividends and buybacks.
Valuation and Risks
Although BAC shares have gained considerably, it is no longer a “bargain” relative to peers, trading at a slight premium. However, analysts suggest the stock remains fairly valued considering its growth prospects, strong fundamentals, and a solid dividend yield.
Key risks to watch include potential credit cycle stress, regulatory changes, and valuation compression if earnings growth falls short of expectations.
Looking Ahead
- Fed Meeting (Dec 9–10, 2025): Investors will be watching closely to see whether the Fed enacts a rate cut.
- Credit Quality: Keep an eye on delinquencies and charge-offs in the 4Q25 results.
- Capital Returns: Updates on buybacks and dividends are expected in December.
In conclusion, Bank of America’s stock remains strong, supported by solid earnings, a favourable macro environment, and strong investor sentiment. However, investors should stay alert to potential risks, particularly in the areas of credit quality and regulatory changes.