11 Best American Bank Stocks to Buy According to Wall Street Analysts

8. Bank of America Corporation (NYSE:BAC)

Bank of America Corporation (NYSE:BAC) is one of the best American bank stocks to buy according to Wall Street analysts. On March 23, Goldman Sachs reduced its price target on Bank of America Corporation (NYSE:BAC) from $67 to $57 and kept its Buy rating on the stock.

The research firm said proposals from US regulators to revise the Basel III Endgame, adjust the G-SIB buffer, and update the Standardized Approach appear positive for large-cap banks. According to Goldman Sachs, these changes are expected to keep risk-weighted assets (RWAs) mostly unchanged, while reducing CET1 capital requirements by around $50 billion, slightly easing capital constraints.

In other news, on March 16, Reuters reported that Bank of America Corporation (NYSE:BAC) has settled a civil lawsuit filed by women who accused the bank of enabling their abuse by Jeffrey Epstein, according to court records.

The lawsuit filed in October by a woman using the pseudonym Jane Doe claimed that Bank of America Corporation (NYSE:BAC) ignored suspicious financial transactions linked to Epstein despite having significant information about his crimes as it prioritized profits over protecting victims.

According to the report by Reuters, Bank of America Corporation (NYSE:BAC) has said that it only provided standard banking services to individuals who were not known at the time to be connected to Epstein. The bank denied any deeper involvement in the matter.

Bank of America Corporation (NYSE:BAC) is one of the world’s largest financial institutions. It serves individual consumers, small and middle-market businesses, and large corporations with a wide range of banking, investing, asset management, and other financial and risk management products and services.