Bank of America Corporation [BAC] is -16.41% lower this YTD. Is it still time to buy?

Bank of America Corporation [NYSE: BAC] surged by $0.02 during the normal trading session on Friday and reaching a high of $37.85 during the day while it closed the day at $37.19. The company report on November 17, 2022 that BofA Awards Over $3.6 Million to Nonprofits Tackling Economic Mobility in Metro Detroit.

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Abayomi Community Development Corporation, Racquet Up Detroit announced as 2022 Neighborhood Builders Awardees.

Today, Bank of America celebrates its annual “Day of Giving,” connecting more than 100 employees with the bank’s community partners to volunteer with organizations helping to advance economic mobility and racial equality in Detroit. In addition to the volunteer visits, the day includes a small business roundtable, a luncheon with bank teammates and partners, and a special “GIVE” celebration event.

Bank of America Corporation stock has also loss -3.18% of its value over the past 7 days. However, BAC stock has inclined by 7.11% in the 3 months of the year. Over the past six months meanwhile, it has gained 9.83% and lost -16.41% year-on date.

The market cap for BAC stock reached $298.19 billion, with 8.11 billion shares outstanding and 8.01 billion shares in the current float. Compared to the average trading volume of 40.96M shares, BAC reached a trading volume of 32029792 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 $41.31 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.

Citigroup have made an estimate for Bank of America Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 14, 2022. The new note on the price target was released on July 11, 2022, representing the official price target for Bank of America Corporation stock. Previously, the target price had yet another drop from $51 to $49, while Morgan Stanley kept a Equal-Weight rating on BAC stock.

The Average True Range (ATR) for Bank of America Corporation is set at 0.96, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 4.97. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 106.39. Price to Free Cash Flow for BAC in the course of the last twelve months was 718.54.

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 -3.18. With this latest performance, BAC shares gained by 10.36% in over the last four-week period, additionally plugging by 9.83% over the last 6 months – not to mention a drop of -19.71% 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 60.39, with the RSI for the last a single of trading hit 57.89, and the three-weeks RSI is set at 59.80 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 34.15, while it was recorded at 37.44 for the last single week of trading, and 36.53 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 5.93%.

Bank of America Corporation [BAC]: Insider Ownership positions

There are presently around $208,859 million, or 71.00% 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 0.14% of the total institutional ownership; VANGUARD GROUP INC, holding 602,457,736 shares of the stock with an approximate value of $22.41 billion in BAC stocks shares; and BLACKROCK INC., currently with $17.73 billion in BAC stock with ownership of nearly -2.349% 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 1,310 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 220,461,364 shares. Additionally, 1,093 investors decreased positions by around 197,318,525 shares, while 352 investors held positions by with 5,198,225,204 shares. The mentioned changes placed institutional holdings at 5,616,005,093 shares, according to the latest SEC report filing. BAC stock had 118 new institutional investments in for a total of 15,871,631 shares, while 132 institutional investors sold positions of 35,936,668 shares during the same period.


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