Bank of America Corporation [BAC] Stock trading around $38.83 per share: What’s Next?

Bank of America Corporation [NYSE: BAC] price plunged by -0.08 percent to reach at -$0.03. The company report on July 14, 2021 that Bank of America Reports Second-Quarter 2021 Financial Results.

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Bank of America reported its second-quarter 2021 financial results. The news release, supplemental filing and investor presentation can be accessed at Bank of America’s Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings.

Investor Conference Call information:Chief Executive Officer Brian Moynihan and Chief Financial Officer Paul Donofrio will discuss the financial results in a conference call at 9:00 a.m. ET. For a listen-only connection to the conference call, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international), and the conference ID is 79795.

A sum of 54477276 shares traded at recent session while its average daily volume was at 45.21M shares. Bank of America Corporation shares reached a high of $39.33 and dropped to a low of $38.32 until finishing in the latest session at $38.83.

The one-year BAC stock forecast points to a potential upside of 11.61. 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 $43.93 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.

Keefe Bruyette have made an estimate for Bank of America Corporation shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on July 07, 2021. The new note on the price target was released on May 04, 2021, representing the official price target for Bank of America Corporation stock. Previously, the target price had yet another raise to $40, while Atlantic Equities analysts kept a Overweight rating on BAC stock. On January 11, 2021, analysts increased their price target for BAC shares from 31 to 37.

The Average True Range (ATR) for Bank of America Corporation is set at 1.05, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 6.87. The Price to Book ratio for the last quarter was 1.35, with the Price to Cash per share for the same quarter was set at 110.35.

BAC Stock Performance Analysis:

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 0.13. With this latest performance, BAC shares dropped by -6.19% in over the last four-week period, additionally plugging by 16.05% over the last 6 months – not to mention a rise of 57.85% 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 39.01, with the RSI for the last a single of trading hit 36.41, and the three-weeks RSI is set at 41.53 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 41.40, while it was recorded at 39.64 for the last single week of trading, and 34.25 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

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 24.34%.

Bank of America Corporation [BAC] Insider Position Details

There are presently around $237,663 million, or 73.00% 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 $24.14 billion in BAC stocks shares; and BLACKROCK INC., currently with $19.91 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 July and at the time of the July reporting period, where 1,273 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 273,891,478 shares. Additionally, 1,046 investors decreased positions by around 233,673,133 shares, while 269 investors held positions by with 5,613,043,959 shares. The mentioned changes placed institutional holdings at 6,120,608,570 shares, according to the latest SEC report filing. BAC stock had 234 new institutional investments in for a total of 57,548,286 shares, while 128 institutional investors sold positions of 28,300,939 shares during the same period.

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