Oct. 31 at 7:45 PM
Bank of America is set to unveil a new growth plan at its first investor day in nearly 15 years as CEO Brian Moynihan seeks to narrow the gap with peers. The bank is expected to target a return on tangible common equity of 16%–18%, up from 14% this year and closer to JPMorgan’s 21%.
Despite a 21% stock gain in 2025, BofA still trails rivals like JPMorgan, reflecting slower growth in lending and wealth management. Analysts say the bank must shift from a cautious “responsible growth” strategy toward more expansion, particularly in credit cards and Merrill Lynch’s wealth arm, where Morgan Stanley now leads.
Wells Fargo’s Mike Mayo raised his price target to
$62, forecasting 13% earnings growth next year. BofA’s strong franchise, top-tier consumer banking, and digital edge remain key advantages, though past missteps—like a
$71 billion paper loss from low-yield mortgage securities—still weigh on performance.
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