BAC·Bank of America Corporation

Bank of America is significantly expanding its offerings. The most recent development is the launch of a new rewards program, BofA Rewards, which begins May 27 and will be accessible to all personal checking account holders. This move, which replaces the Preferred Rewards program, aims to broaden client engagement and modernize its services. Simultaneously, the bank is introducing an Art Consulting service for wealth clients, aiming to integrate art into wealth strategies. These initiatives suggest a strategic focus on customer engagement and wealth management. The expanded rewards program could drive increased activity and deepen relationships with a broader client base. The Art Consulting service targets high-net-worth individuals, potentially attracting new clients and expanding the bank's wealth management services. However, there is also news that Berkshire Hathaway reduced its BAC holdings, which may signal a shift in investor sentiment. Brokerage firms have set an average price target of $60.30 for Bank of America, reflecting a positive outlook. Investors should watch for the impact of the new rewards program on customer activity and the performance of the Art Consulting service.