Bank of America Corporation [BAC] Stock trading around $42.36 per share: What’s Next?

Bank of America Corporation [NYSE: BAC] gained 1.24% or 0.52 points to close at $42.36 with a heavy trading volume of 30862686 shares. The company report on May 12, 2021 that Gibraltar Business Capital Announces $150MM Line of Credit with Bank of America.

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Gibraltar Business Capital, an industry leader in asset-based lending for lower middle-market businesses, announced an expanded financing partnership with Bank of America through a new $150MM line of credit.

The line of credit provides Gibraltar the necessary capacity to serve its growing portfolio of lower mid-market businesses seeking flexible, reliable financing while they solve short-term challenges or seize growth opportunities. The new relationship will also support Gibraltar’s evolution as it builds toward serving more businesses and continuing its growth trajectory.

It opened the trading session at $42.06, the shares rose to $42.479 and dropped to $41.92, the range by which the price of stock traded the whole day. The daily chart for BAC points out that the company has recorded 54.94% gains over the past six months. However, it is still -110.75% lower than its most recent low trading price.

If we look at the average trading volume of 53.44M shares, BAC reached to a volume of 30862686 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 $43.00 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.

Robert W. Baird have made an estimate for Bank of America Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 04, 2021. The new note on the price target was released on January 26, 2021, representing the official price target for Bank of America Corporation stock. Previously, the target price had yet another raise from $31 to $37, while Citigroup kept a Buy rating on BAC stock.

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 7.65. The Price to Book ratio for the last quarter was 1.48, with the Price to Cash per share for the same quarter was set at 108.21.

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 0.43. With this latest performance, BAC shares gained by 9.34% in over the last four-week period, additionally plugging by 54.94% over the last 6 months – not to mention a rise of 95.12% 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 65.95, with the RSI for the last a single of trading hit 68.15, and the three-weeks RSI is set at 64.67 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 39.28, while it was recorded at 41.80 for the last single week of trading, and 30.91 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 +20.88. 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.

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 0.37/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%.

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

There are presently around $258,301 million, or 72.70% 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 621,603,811 shares of the stock with an approximate value of $26.33 billion in BAC stocks shares; and BLACKROCK INC., currently with $21.72 billion in BAC stock with ownership of nearly 0.635% 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 April and at the time of the April reporting period, where 1,302 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 240,062,143 shares. Additionally, 1,020 investors decreased positions by around 250,796,310 shares, while 257 investors held positions by with 5,606,890,109 shares. The mentioned changes placed institutional holdings at 6,097,748,562 shares, according to the latest SEC report filing. BAC stock had 275 new institutional investments in for a total of 35,353,245 shares, while 122 institutional investors sold positions of 21,717,215 shares during the same period.

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