Bank of America Corporation [BAC] gain 31.14% so far this year. What now?

Bank of America Corporation [NYSE: BAC] traded at a high on 06/21/21, posting a 2.50 gain after which it closed the day’ session at $39.75. The company report on June 17, 2021 that Carver Bancorp and Bank of America Announce Closing of Social Impact Credit Facility with BlackRock.

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Carver Bancorp, Inc. (Nasdaq: CARV), the holding company for Carver Federal Savings Bank (“Carver”), a certified Minority Depository Institution (“MDI”), and Bank of America Corporation (NYSE: BAC) announced that they have closed a Senior Secured Social Impact Revolving Credit Facility with BlackRock’s Alternative Solutions Group. BlackRock Alternative Solutions manages private market portfolios and invests across alternative asset classes, sectors and geographies on behalf of its clients.

The transaction represents the first time that Carver has participated in a subscription line facility and is among the first-of-its-kind transactions where an MDI has joined as a co-lender.

The results of the trading session contributed to over 47859658 shares changing hands. Over the past one week, the price volatility of Bank of America Corporation stands at 2.97% while the volatility over the past one month is 1.99%.

The market cap for BAC stock reached $349.59 billion, with 8.70 billion shares outstanding and 8.56 billion shares in the current float. Compared to the average trading volume of 47.53M shares, BAC reached a trading volume of 47859658 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $43.54 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.

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 0.96, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 7.46. The Price to Book ratio for the last quarter was 1.39, with the Price to Cash per share for the same quarter was set at 104.14.

How has BAC stock performed recently?

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 -3.89. With this latest performance, BAC shares dropped by -5.06% in over the last four-week period, additionally plugging by 37.88% over the last 6 months – not to mention a rise of 57.43% 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 37.63, with the RSI for the last a single of trading hit 33.44, and the three-weeks RSI is set at 42.33 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 41.15, while it was recorded at 40.27 for the last single week of trading, and 32.94 for the last 200 days.

Bank of America Corporation [BAC]: Deeper insight into the 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.

Earnings analysis for Bank of America Corporation [BAC]

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 24.29%.

Insider trade positions for Bank of America Corporation [BAC]

There are presently around $237,554 million, or 73.20% 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 621,603,811 shares of the stock with an approximate value of $24.11 billion in BAC stocks shares; and BLACKROCK INC., currently with $19.88 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 1,296 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 276,547,930 shares. Additionally, 1,053 investors decreased positions by around 235,195,272 shares, while 262 investors held positions by with 5,613,937,982 shares. The mentioned changes placed institutional holdings at 6,125,681,184 shares, according to the latest SEC report filing. BAC stock had 247 new institutional investments in for a total of 57,622,906 shares, while 134 institutional investors sold positions of 28,505,259 shares during the same period.

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