Bank of America Corporation [BAC] gain 24.38% so far this year. What now?

Bank of America Corporation [NYSE: BAC] stock went on a downward path that fall over -0.68% on Friday, amounting to a one-week price decrease of less than -0.58%. The company report on July 22, 2021 that Bank of America Increases Common Stock Dividend 17 Percent.

Bank of America Corporation announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.21 per share, up 17 percent from the prior quarter. The dividend is payable on September 24, 2021 to shareholders of record as of September 3, 2021.

The Board also declared a regular quarterly cash dividend of $1.75 per share on the 7% Cumulative Redeemable Preferred Stock, Series B. The dividend is payable on October 25, 2021 to shareholders of record as of October 15, 2021.

Over the last 12 months, BAC stock rose by 53.63%. The one-year Bank of America Corporation stock forecast points to a potential upside of 14.18. The average equity rating for BAC stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $325.29 billion, with 8.70 billion shares outstanding and 8.56 billion shares in the current float. Compared to the average trading volume of 45.25M shares, BAC stock reached a trading volume of 48457632 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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.

Odeon have made an estimate for Bank of America Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 19, 2021. While these analysts kept the previous recommendation, Keefe Bruyette raised their target price to Mkt Perform. The new note on the price target was released on July 07, 2021, representing the official price target for Bank of America Corporation stock. Previously, the target price had yet another raise to $42, while Robert W. Baird analysts kept a Neutral rating on BAC stock.

The Average True Range (ATR) for Bank of America Corporation is set at 1.11, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 7.11. The Price to Book ratio for the last quarter was 1.31, with the Price to Cash per share for the same quarter was set at 106.15. Price to Free Cash Flow for BAC in the course of the last twelve months was 10.27.

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 -0.58. With this latest performance, BAC shares dropped by -6.22% in over the last four-week period, additionally plugging by 19.49% over the last 6 months – not to mention a rise of 53.63% 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 38.56, with the RSI for the last a single of trading hit 37.48, and the three-weeks RSI is set at 40.28 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 40.93, while it was recorded at 37.75 for the last single week of trading, and 34.66 for the last 200 days.

Insight into Bank of America Corporation Fundamentals:

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 24.32%.

Bank of America Corporation [BAC] Insider Position Details

There are presently around $230,780 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 $23.43 billion in BAC stocks shares; and BLACKROCK INC., currently with $19.33 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 1,254 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 277,366,827 shares. Additionally, 1,054 investors decreased positions by around 236,364,347 shares, while 277 investors held positions by with 5,607,745,264 shares. The mentioned changes placed institutional holdings at 6,121,476,438 shares, according to the latest SEC report filing. BAC stock had 215 new institutional investments in for a total of 56,910,838 shares, while 119 institutional investors sold positions of 27,862,492 shares during the same period.

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