Bank of America Corporation [BAC] Stock trading around $36.19 per share: What’s Next?

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Bank of America Corporation [NYSE: BAC] plunged by -$0.51 during the normal trading session on Friday and reaching a high of $36.68 during the day while it closed the day at $36.19. The company report on May 24, 2022 that Bank of America to More Than Double Electrify America Ultra-Fast Charging Stations at Financial Centers.


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Over 90 financial center locations will offer electric vehicle (EV) charging by the end of 2023.

Bank of America and Electrify America today announced plans to more than double the number of financial centers equipped with electric-vehicle (EV) charging stations by the end of 2023.

Bank of America Corporation stock has also loss -1.31% of its value over the past 7 days. However, BAC stock has declined by -11.62% in the 3 months of the year. Over the past six months meanwhile, it has lost -19.38% and lost -18.66% year-on date.

The market cap for BAC stock reached $295.69 billion, with 8.14 billion shares outstanding and 8.05 billion shares in the current float. Compared to the average trading volume of 52.78M shares, BAC reached a trading volume of 25025225 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 $48.40 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 1.13, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 6.01. The Price to Book ratio for the last quarter was 1.23, with the Price to Cash per share for the same quarter was set at 115.46.

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 -1.31. With this latest performance, BAC shares dropped by -6.29% in over the last four-week period, additionally sinking by -19.38% over the last 6 months – not to mention a drop of -16.36% 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 47.06, with the RSI for the last a single of trading hit 48.89, and the three-weeks RSI is set at 45.27 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 37.95, while it was recorded at 36.76 for the last single week of trading, and 42.94 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 $203,647 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 $21.4 billion in BAC stocks shares; and BLACKROCK INC., currently with $18.05 billion in BAC stock with ownership of nearly 1.126% of the company’s market capitalization.

1,444 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 186,752,709 shares. Additionally, 1,177 investors decreased positions by around 290,959,416 shares, while 314 investors held positions by with 5,149,438,183 shares. The mentioned changes placed institutional holdings at 5,627,150,308 shares, according to the latest SEC report filing. BAC stock had 178 new institutional investments in for a total of 37,129,854 shares, while 144 institutional investors sold positions of 6,490,770 shares during the same period.

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