Bank of America snaps seven straight sessions of gains

Bank of America (NYSE:BAC) shares snapped seven straight days of gains as the stock closed 0.45% lower, at $48.23 on Monday.

The banking giant gained more than 3% in the last seven trading days. The stock closed 0.12% higher, at $48.45 on Friday.

The stock has gained more than 10% so far this year, compared to an over 8% gain in the broader benchmark index. BAC is up 1% over the past one month.

Bank of America is said to have announced the issuance of 100,000 shares of series UU preferred stock on July 24.

On the same day, the bank sold 2.5 million depositary shares, each depositary share representing a 1/25th interest in a share of the company’s 6.250% fixed-rate reset noncumulative preferred stock, series UU, S&P Global reported.

Seeking Alpha’s Quant rating system has rated BAC stock STRONG BUY, while sell-side analysts see the stock as a BUY. Meanwhile SA authors have rated the stock as HOLD.

Seeking Alpha analyst The Asian Investor noted that high interest rates have propped up Bank of America’s net interest income in the second fiscal quarter.

The bank also benefited from strong capital market volatility in the second quarter and generated billions of dollars in earnings in Q2 2025.

The analyst has a bullish view on the stock and said that with federal fund rate cuts still not getting cut, the outlook for NII remains highly favorable for Bank of America in the current fiscal year.

“Bank of America also passed the Federal Reserve’s stress test last month, which clears the path for higher capital returns,” the analyst added.