For Bank of America Corporation [BAC], Analyst sees a drop to $49. What next?


Bank of America Corporation [NYSE: BAC] plunged by -$0.59 during the normal trading session on Friday and reaching a high of $34.98 during the day while it closed the day at $33.86. The company report on May 20, 2022 that Bank of America Announces 2023 Financial Reporting Dates.

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Bank of America today announced the following reporting dates for quarterly financial results:.

Bank of America Corporation stock has also loss -3.72% of its value over the past 7 days. However, BAC stock has declined by -26.33% in the 3 months of the year. Over the past six months meanwhile, it has lost -26.90% and lost -23.89% year-on date.

The market cap for BAC stock reached $277.56 billion, with 8.14 billion shares outstanding and 8.05 billion shares in the current float. Compared to the average trading volume of 54.31M shares, BAC reached a trading volume of 61750288 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $48.28 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.

Morgan Stanley have made an estimate for Bank of America Corporation shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on March 28, 2022. The new note on the price target was released on March 08, 2022, representing the official price target for Bank of America Corporation stock.

The Average True Range (ATR) for Bank of America Corporation is set at 1.30, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 5.64. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 115.08.

BAC stock trade performance evaluation

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 -3.72. With this latest performance, BAC shares dropped by -12.98% in over the last four-week period, additionally sinking by -26.90% over the last 6 months – not to mention a drop of -20.14% 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 32.95, with the RSI for the last a single of trading hit 30.68, and the three-weeks RSI is set at 34.52 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 39.03, while it was recorded at 34.80 for the last single week of trading, and 43.16 for the last 200 days.

Bank of America Corporation [BAC]: An insightful look at the core 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 +35.65. Bank of America Corporation’s Net Margin is presently recorded at +33.39.

Return on Equity for this stock inclined to 11.78, with Return on Assets sitting at 1.06.

Earnings per share (EPS) analysis for Bank of America Corporation [BAC] stock

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 15.40%.

Bank of America Corporation [BAC]: Insider Ownership positions

There are presently around $190,498 million, or 71.10% 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 591,207,087 shares of the stock with an approximate value of $20.02 billion in BAC stocks shares; and BLACKROCK INC., currently with $16.88 billion in BAC stock with ownership of nearly 1.126% of the company’s market capitalization.

1,445 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 185,998,246 shares. Additionally, 1,173 investors decreased positions by around 291,311,274 shares, while 314 investors held positions by with 5,148,739,276 shares. The mentioned changes placed institutional holdings at 5,626,048,796 shares, according to the latest SEC report filing. BAC stock had 180 new institutional investments in for a total of 37,139,131 shares, while 144 institutional investors sold positions of 6,412,953 shares during the same period.