Bank of America Corporation [BAC] Stock trading around $24.08 per share: What’s Next?

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Bank of America Corporation [NYSE: BAC] stock went on an upward path that rose over 1.60% on Monday, amounting to a one-week price decrease of less than -1.87%. The company report on October 29, 2020 that 1921 Tulsa Race Massacre Centennial Commission Receives $1 Million Grant From Bank of America for Greenwood Rising.

The 1921 Tulsa Race Massacre Centennial Commission (“Centennial Commission”) today announced that it has received a $1 million grant from Bank of America in support of its planned state-of-the-art history center “Greenwood Rising,” that tells the story of the original “Black Wall Street” and chronicles the worst domestic terrorist event in our nation’s history. This grant is connected to the bank’s $1 billion, four-year initiative to advance racial equality, health care and economic opportunity in minority communities.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201029005862/en/.

Over the last 12 months, BAC stock dropped by -24.28%. The one-year Bank of America Corporation stock forecast points to a potential upside of 16.1. The average equity rating for BAC stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $207.22 billion, with 8.74 billion shares outstanding and 8.66 billion shares in the current float. Compared to the average trading volume of 58.40M shares, BAC stock reached a trading volume of 59559824 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $28.70 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.

Deutsche Bank have made an estimate for Bank of America Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 03, 2020. While these analysts kept the previous recommendation, DA Davidson dropped their target price from $27 to $25. The new note on the price target was released on July 09, 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 0.68, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 3.63. The Price to Book ratio for the last quarter was 0.87, with the Price to Cash per share for the same quarter was set at 118.32. Price to Free Cash Flow for BAC in the course of the last twelve months was 3.45.

BAC Stock Performance Analysis:

Bank of America Corporation [BAC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.87. With this latest performance, BAC shares dropped by -0.54% in over the last four-week period, additionally plugging by 6.27% over the last 6 months – not to mention a drop of -24.28% 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 47.01, with the RSI for the last a single of trading hit 48.55, and the three-weeks RSI is set at 47.43 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 24.78, while it was recorded at 23.73 for the last single week of trading, and 25.41 for the last 200 days.

Insight into Bank of America Corporation 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 +29.45. Bank of America Corporation’s Net Margin is presently recorded at +24.14.

Return on Total Capital for BAC is now 4.76, 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.

BAC Stock EPS

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 0.68/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.80%. 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 0.20%.

Bank of America Corporation [BAC] Insider Position Details

There are presently around $142,655 million, or 72.50% 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 625,514,680 shares of the stock with an approximate value of $14.82 billion in BAC stocks shares; and BLACKROCK INC., currently with $12.56 billion in BAC stock with ownership of nearly -2.25% of the company’s market capitalization.

Positions in Bank of America Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 1,004 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 280,076,069 shares. Additionally, 1,011 investors decreased positions by around 356,913,881 shares, while 218 investors held positions by with 5,382,206,725 shares. The mentioned changes placed institutional holdings at 6,019,196,675 shares, according to the latest SEC report filing. BAC stock had 152 new institutional investments in for a total of 47,460,134 shares, while 123 institutional investors sold positions of 45,069,785 shares during the same period.

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