Bank of America Corporation [BAC] Is Currently 0.86 below its 200 Period Moving Avg: What Does This Mean?

Bank of America Corporation [NYSE: BAC] price surged by 0.86 percent to reach at $0.31. The company report on October 26, 2022 that University of Central Florida Receives Grant to Increase Hispanic/Latina/o/x Health Care Graduates, Decrease Gap in Representation.


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Progresando Initiative Empowers Hispanic/Latina/O/X Adults to Achieve Economic and Social Mobility Through High-Impact Careers.

University of Central Florida (UCF) has been awarded a two-year $250,000 grant from Bank of America to support Hispanic/Latina/o/x students pursuing careers in health care through its Progresando Initiative. The initiative was created to help Hispanic/Latina/o/x students achieve upward economic mobility through careers in health care, while also helping to increase representation and address the shortage of culturally proficient, Spanish-speaking health providers.

A sum of 31632681 shares traded at recent session while its average daily volume was at 41.30M shares. Bank of America Corporation shares reached a high of $36.30 and dropped to a low of $35.64 until finishing in the latest session at $36.18.

The one-year BAC stock forecast points to a potential upside of 11.67. The average equity rating for BAC stock is currently 2.30, 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 $40.96 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 2.30. 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 1.07, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 4.79. The Price to Book ratio for the last quarter was 1.22, with the Price to Cash per share for the same quarter was set at 104.75.

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 3.52. With this latest performance, BAC shares gained by 18.00% in over the last four-week period, additionally plugging by 1.40% over the last 6 months – not to mention a drop of -24.28% 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 66.72, with the RSI for the last a single of trading hit 73.64, and the three-weeks RSI is set at 62.10 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 33.30, while it was recorded at 35.64 for the last single week of trading, and 37.22 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 +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.

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 5.93%.

Bank of America Corporation [BAC] Insider Position Details

There are presently around $201,858 million, or 70.60% 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 0.14% of the total institutional ownership; VANGUARD GROUP INC, holding 599,144,507 shares of the stock with an approximate value of $21.68 billion in BAC stocks shares; and BLACKROCK INC., currently with $17.66 billion in BAC stock with ownership of nearly -2.108% of the company’s market capitalization.

Positions in Bank of America Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 1,351 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 271,885,884 shares. Additionally, 1,124 investors decreased positions by around 289,090,695 shares, while 329 investors held positions by with 5,018,302,123 shares. The mentioned changes placed institutional holdings at 5,579,278,702 shares, according to the latest SEC report filing. BAC stock had 135 new institutional investments in for a total of 37,168,779 shares, while 172 institutional investors sold positions of 33,976,826 shares during the same period.

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