Saturday, March 6, 2021

Bank of America Corporation [BAC] Is Currently -0.40 below its 200 Period Moving Avg: What Dose This Mean?

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Bank of America Corporation [NYSE: BAC] loss -0.40% on the last trading session, reaching $32.37 price per share at the time. The company report on February 3, 2021 that Bank of America Triples Affordable Homeownership Commitment to $15 Billion.

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Grants and Affordable Loans Have Already Helped Nearly 21,000 Individuals In Low- and Moderate-Income Communities Become Homeowners.


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Bank of America announced it will triple its affordable homeownership initiative to $15 billion through 2025, aiming to help more than 60,000 individuals and families to purchase homes.

Bank of America Corporation represents 8.73 billion in outstanding shares, while the company has a total market value of $281.15 billion with the latest information. BAC stock price has been found in the range of $32.32 to $32.905.

If compared to the average trading volume of 54.55M shares, BAC reached a trading volume of 41892555 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $36.07 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 2.20. 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.

Atlantic Equities have made an estimate for Bank of America Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 26, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price from $31 to $37. The new note on the price target was released on January 11, 2021, representing the official price target for Bank of America Corporation stock. Previously, the target price had yet another raise to $31, while Daiwa Securities analysts kept a Neutral rating on BAC stock. On January 05, 2021, analysts increased their price target for BAC shares from 27 to 36.

The Average True Range (ATR) for Bank of America Corporation is set at 0.87, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 5.45. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 107.38. Price to Free Cash Flow for BAC in the course of the last twelve months was 4.40.

Trading performance analysis for BAC stock

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 9.17. With this latest performance, BAC shares gained by 0.68% in over the last four-week period, additionally plugging by 27.09% over the last 6 months – not to mention a drop of -6.63% 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 59.03, with the RSI for the last a single of trading hit 61.28, and the three-weeks RSI is set at 58.72 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 30.42, while it was recorded at 31.49 for the last single week of trading, and 26.14 for the last 200 days.

Bank of America Corporation [BAC]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Bank of America Corporation [BAC] shares currently have an operating margin of +20.26. Bank of America Corporation’s Net Margin is presently recorded at +19.09.

Return on Total Capital for BAC is now 2.66, given the latest momentum, and Return on Invested Capital for the company is 3.49. Return on Equity for this stock inclined to 6.66, with Return on Assets sitting at 0.68. 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 165.83. Additionally, BAC Total Debt to Total Capital is recorded at 62.38, with Total Debt to Total Assets ending up at 16.05. Long-Term Debt to Equity for the company is recorded at 105.85, with the Long-Term Debt to Total Capital now at 36.24.

Bank of America Corporation [BAC]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Bank of America Corporation posted 0.4/share EPS, while the average EPS was predicted by analysts to be reported at 0.46/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -13.00%. 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 1.11%.

An analysis of insider ownership at Bank of America Corporation [BAC]

There are presently around $191,018 million, or 71.20% of BAC stock, in the hands of institutional investors. The top three institutional holders of BAC stocks are: BERKSHIRE HATHAWAY INC with ownership of 1,010,100,606, which is approximately 9.199% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 613,530,808 shares of the stock with an approximate value of $19.86 billion in BAC stocks shares; and BLACKROCK INC., currently with $16.49 billion in BAC stock with ownership of nearly -0.083% of the company’s market capitalization.

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Positions in Bank of America Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 1,044 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 322,162,949 shares. Additionally, 1,044 investors decreased positions by around 309,605,628 shares, while 227 investors held positions by with 5,269,312,582 shares. The mentioned changes placed institutional holdings at 5,901,081,159 shares, according to the latest SEC report filing. BAC stock had 215 new institutional investments in for a total of 31,557,851 shares, while 112 institutional investors sold positions of 26,475,311 shares during the same period.

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