Wednesday, June 3, 2020

Bank of America Corporation [BAC] Revenue clocked in at $69.16 billion, down -34.95% YTD: What’s Next?

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Bank of America Corporation [NYSE: BAC] surged by $0.7 during the normal trading session on Wednesday and reaching a high of $23.00 during the day while it closed the day at $22.91. Bank of America Corporation stock has also gained 9.77% of its value over the past 7 days. However, BAC stock has declined by -34.26% in the 3 months of the year. Over the past six months meanwhile, it has lost -30.49% and lost -34.95% year-on date.

The market cap for BAC stock reached $201.26 billion, with 8.82 billion shares outstanding and 8.67 billion shares in the current float. Compared to the average trading volume of 94.33M shares, BAC reached a trading volume of 59349161 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Bank of America Corporation [BAC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BAC shares is $27.15 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BAC stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Societe Generale have made an estimate for Bank of America Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 14, 2020. While these analysts kept the previous recommendation, DA Davidson dropped their target price from $36 to $24. The new note on the price target was released on April 02, 2020, representing the official price target for Bank of America Corporation stock.

The Average True Range (ATR) for Bank of America Corporation is set at 1.07, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 2.91. The Price to Book ratio for the last quarter was 0.84, with the Price to Cash per share for the same quarter was set at 92.84. Price to Free Cash Flow for BAC in the course of the last twelve months was 3.35.

BAC stock trade performance evaluation

Bank of America Corporation [BAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.77. With this latest performance, BAC shares gained by 5.87% in over the last four-week period, additionally sinking by -30.49% over the last 6 months – not to mention a drop of -20.15% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BAC stock in for the last two-week period is set at 54.59, with the RSI for the last a single of trading hit 53.68, and the three-weeks RSI is set at 49.49 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 22.12, while it was recorded at 22.24 for the last single week of trading, and 29.07 for the last 200 days.

Bank of America Corporation [BAC]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Bank of America Corporation [BAC] shares currently have an operating margin of +32.07. Bank of America Corporation’s Net Margin is presently recorded at +24.41.

Return on Total Capital for BAC is now 5.12, given the latest momentum, and Return on Invested Capital for the company is 5.80. Return on Equity for this stock inclined to 10.35, with Return on Assets sitting at 1.14. When it comes to the capital structure of this company, Bank of America Corporation [BAC] has a Total Debt to Total Equity ratio set at 166.26. Additionally, BAC Total Debt to Total Capital is recorded at 62.44, with Total Debt to Total Assets ending up at 18.01. Long-Term Debt to Equity for the company is recorded at 93.13, with the Long-Term Debt to Total Capital now at 31.89.

Reflecting on the efficiency of the workforce at the company, Bank of America Corporation [BAC] managed to generate an average of $131,875 per employee.

Earnings per share (EPS) analysis for Bank of America Corporation [BAC] stock

With the latest financial reports released by the company, Bank of America Corporation posted 0.74/share EPS, while the average EPS was predicted by analysts to be reported at 0.71/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BAC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Bank of America Corporation go to 5.12%.

Bank of America Corporation [BAC]: Insider Ownership positions

There are presently around $136,002 million, or 73.10% of BAC stock, in the hands of institutional investors. The top three institutional holders of BAC stocks are: BERKSHIRE HATHAWAY INC with ownership of 925,008,600, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 631,097,272 shares of the stock with an approximate value of $14.02 billion in BAC stocks shares; and BLACKROCK INC., currently with $12.04 billion in BAC stock with ownership of nearly 0.769% of the company’s market capitalization.

975 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 256,797,657 shares. Additionally, 1,292 investors decreased positions by around 429,530,950 shares, while 173 investors held positions by with 5,437,113,816 shares. The mentioned changes placed institutional holdings at 6,123,442,423 shares, according to the latest SEC report filing. BAC stock had 158 new institutional investments in for a total of 66,309,939 shares, while 331 institutional investors sold positions of 105,118,504 shares during the same period.

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