Market Analysts see Bank of America Corporation [BAC] gaining to $37.50. Time to buy?

Bank of America Corporation [NYSE: BAC] jumped around 0.56 points on Friday, while shares priced at $33.96 at the close of the session, up 1.68%. The company report on July 28, 2022 that Bank of America Corporate, Global Commercial and Business Banking Services Earns J.D. Power Certification for the 13th Consecutive Year.


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For the 13th consecutive year, the J.D. Power Certified Customer Service Program has recognized Bank of America’s Corporate, Global Commercial and Business Banking Services for providing “An Outstanding Customer Service Experience.” Bank of America is one of only two companies to achieve this consecutive milestone.

“Our 2022 J.D. Power certification is a testament to our teammates’ continued focus on delivering an outstanding client experience with every interaction,” said Jennifer Boussuge, Global Banking Operations executive. “I’m proud of the dedication and commitment to our client-first culture that they demonstrate daily.”.

Bank of America Corporation stock is now -23.67% down from its year-to-date (YTD) trading value. BAC Stock saw the intraday high of $34.33 and lowest of $33.235 per share. The company’s 52-week high price is 50.11, which means current price is +14.46% above from all time high which was touched on 02/10/22.

Compared to the average trading volume of 45.93M shares, BAC reached a trading volume of 35819245 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 $42.25 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.

Societe Generale have made an estimate for Bank of America Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 11, 2022. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $51 to $49. The new note on the price target was released on March 28, 2022, 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 0.88, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 5.09. 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 105.45.

How has BAC stock performed recently?

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 0.44. With this latest performance, BAC shares gained by 6.59% in over the last four-week period, additionally sinking by -26.86% over the last 6 months – not to mention a drop of -12.97% 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 56.81, with the RSI for the last a single of trading hit 60.21, and the three-weeks RSI is set at 53.32 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 33.28, while it was recorded at 33.55 for the last single week of trading, and 40.91 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 +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 analysis for Bank of America Corporation [BAC]

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 6.97%.

Insider trade positions for Bank of America Corporation [BAC]

There are presently around $190,143 million, or 71.30% 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 $20.08 billion in BAC stocks shares; and BLACKROCK INC., currently with $16.93 billion in BAC stock with ownership of nearly 1.126% of the company’s market capitalization.

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 1,377 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 171,347,385 shares. Additionally, 1,186 investors decreased positions by around 302,100,497 shares, while 313 investors held positions by with 5,125,591,949 shares. The mentioned changes placed institutional holdings at 5,599,039,831 shares, according to the latest SEC report filing. BAC stock had 138 new institutional investments in for a total of 32,578,503 shares, while 211 institutional investors sold positions of 14,443,755 shares during the same period.

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