Why Are Bank Of America Shares Rising Tuesday?

7/9/24 2:34:56 PM ET

$BAC

$CHRW

Major Banks

Finance

Oil Refining/Marketing

Consumer Discretionary

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Bank of America Corporation (NYSE:BAHTTPS, NYSE:BAC) shares rose on Tuesday after Piper Sandler upgraded the stock from Underweight to Neutral and raised its price target from $37 to $42.

More On Analyst Ratings Changes: This Bank of America Analyst Is No Longer Bearish; Here Are Top 5 Upgrades For Tuesday

What Else: Moreover, a potential rule change by the U.S. Federal Reserve concerning the GSIB surcharge could save major banks, billions in capital. This prospective reduction in capital requirements would enable banks to reinvest more capital into the economy through lending.

Bank of America is set to release its second-quarter 2024 financial results on July 16.

BAC Price Action: Bank Of America Shares were up by 2.65% at $41.70 at the time of writing, according to Benzinga Pro.

Photo Courtesy: Tero Vesalainen On Shutterstock.

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Company	Date	Price Target	Rating	Analyst
C.H. Robinson Worldwide Inc. $CHRW	11/12/2024	$110.00 → $127.00	Neutral → Buy	Citigroup
Bank of America Corporation $BAC	11/8/2024	$46.00 → $54.00	Neutral → Buy	Citigroup
C.H. Robinson Worldwide Inc. $CHRW	10/31/2024	$103.00 → $113.00	Hold	TD Cowen
C.H. Robinson Worldwide Inc. $CHRW	10/9/2024	$115.00	Neutral	Citigroup
C.H. Robinson Worldwide Inc. $CHRW	10/4/2024	$100.00 → $140.00	Neutral → Buy	UBS
Bank of America Corporation $BAC	9/3/2024	$45.00	Hold → Buy	Deutsche Bank
C.H. Robinson Worldwide Inc. $CHRW	8/1/2024	$86.00 → $103.00	Hold	TD Cowen
C.H. Robinson Worldwide Inc. $CHRW	8/1/2024	$87.00 → $110.00	Neutral → Overweight	JP Morgan

Why Are Bank Of America Shares Rising Tuesday?

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Recent Analyst Ratings for $BAC$CHRW

$BAC$CHRW Analyst Ratings

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C.H. Robinson upgraded by Citigroup with a new price target

Bank of America upgraded by Citigroup with a new price target

TD Cowen reiterated coverage on C.H. Robinson with a new price target

$BAC$CHRW Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Pres, Merrill Wealth Mgmt Schimpf Eric A. converted options into 1,234 shares and covered exercise/tax liability with 520 shares, increasing direct ownership by 3% to 28,275 units (SEC Form 4)

Pres, Merrill Wealth Mgmt Hans Lindsay D. converted options into 975 shares and covered exercise/tax liability with 498 shares, increasing direct ownership by 4% to 11,896 units (SEC Form 4)

Chief Accounting Officer Bless Rudolf A. converted options into 2,674 shares and covered exercise/tax liability with 1,176 shares (SEC Form 4)

$BAC$CHRW SEC Filings

SEC Form FWP filed by Bank of America Corporation

SEC Form FWP filed by Bank of America Corporation

SEC Form FWP filed by Bank of America Corporation

$BAC$CHRW Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

Bozeman David P bought $149,818 worth of shares (1,807 units at $82.91), increasing direct ownership by 1% to 144,391 units (SEC Form 4)

Woods Thomas D bought $656,250 worth of shares (25,000 units at $26.25), increasing direct ownership by 63% to 64,661 units (SEC Form 4)

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What's Going On With Bank Of America Shares Premarket Thursday?

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$BAC$CHRW Large Ownership Changes

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Amendment: SEC Form SC 13G/A filed by C.H. Robinson Worldwide Inc.

Amendment: SEC Form SC 13D/A filed by Bank of America Corporation

Amendment: SEC Form SC 13G/A filed by C.H. Robinson Worldwide Inc.

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