Bank of America Corporation [NYSE: BAC] price surged by 0.05 percent to reach at $0.02. The company report on April 19, 2021 that DirectBooks Continues Platform Expansion to Include Euro and Sterling Investment Grade Deals.
Announces Appointment of Head of Europe.
DirectBooks™, the capital markets consortium founded to optimize global financing markets, announced the launch of Euro and Sterling Investment Grade deal announcements on the DirectBooks platform. The DirectBooks platform launched in Q4 2020 with deal announcement functionality for U.S. Dollar Investment Grade issuances globally, with a common set of structured deal data and document access for institutional investors.
A sum of 42242563 shares traded at recent session while its average daily volume was at 55.42M shares. Bank of America Corporation shares reached a high of $39.43 and dropped to a low of $39.035 until finishing in the latest session at $39.17.
The one-year BAC stock forecast points to a potential upside of 5.04. The average equity rating for BAC stock is currently 2.20, trading closer to a bullish pattern in the stock market.
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 $41.25 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 0.94, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 7.13. The Price to Book ratio for the last quarter was 1.38, with the Price to Cash per share for the same quarter was set at 109.77. Price to Free Cash Flow for BAC in the course of the last twelve months was 9.31.
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 -2.22. With this latest performance, BAC shares gained by 0.59% in over the last four-week period, additionally plugging by 62.19% over the last 6 months – not to mention a rise of 68.26% 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 55.50, with the RSI for the last a single of trading hit 51.56, and the three-weeks RSI is set at 57.89 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 36.99, while it was recorded at 39.25 for the last single week of trading, and 29.33 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 +20.88. Bank of America Corporation’s Net Margin is presently recorded at +18.85.
Return on Total Capital for BAC is now 2.75, given the latest momentum, and Return on Invested Capital for the company is 3.53. 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 169.66. Additionally, BAC Total Debt to Total Capital is recorded at 62.92, with Total Debt to Total Assets ending up at 16.35. Long-Term Debt to Equity for the company is recorded at 101.09, with the Long-Term Debt to Total Capital now at 34.12.
Reflecting on the efficiency of the workforce at the company, Bank of America Corporation [BAC] managed to generate an average of $84,009 per employee.
BAC Stock EPS
With the latest financial reports released by the company, Bank of America Corporation posted 0.37/share EPS, while the average EPS was predicted by analysts to be reported at 0.27/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 37.00%. 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%.
Bank of America Corporation [BAC] Insider Position Details
There are presently around $237,747 million, or 72.20% 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 0% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 614,743,131 shares of the stock with an approximate value of $24.07 billion in BAC stocks shares; and BLACKROCK INC., currently with $19.95 billion in BAC stock with ownership of nearly -0.083% of the company’s market capitalization.
Positions in Bank of America Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 1,254 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 301,252,472 shares. Additionally, 991 investors decreased positions by around 224,150,666 shares, while 236 investors held positions by with 5,547,318,033 shares. The mentioned changes placed institutional holdings at 6,072,721,171 shares, according to the latest SEC report filing. BAC stock had 374 new institutional investments in for a total of 85,019,088 shares, while 91 institutional investors sold positions of 29,434,400 shares during the same period.