Bank Of America Corp. [BAC] stock Upgrade by Keefe Bruyette analyst, price target now $30

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Bank Of America Corp. [NYSE: BAC] surged by $0.44 during the normal trading session on Friday and reaching a high of $30.00 during the day while it closed the day at $29.98. The company report on November 15, 2023 at 9:00 AM that BofA Streamlines Car Shopping Journey with Enhanced Digital Tools and Resources.

New Auto Prequalification Makes Car Shopping More Convenient and Approachable.

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Bank of America is introducing new digital capabilities to support consumers in their car shopping and financing journey. Bank of America clients can now get prequalified for auto financing to learn how much they may be able to borrow and estimate their terms, all with no impact to their credit scores. Additionally, enhancements to the bank’s Digital Car Shopping tool — such as improved search functionality, EV inventory filtering, loan application integration and in-platform CARFAX™ reviews — help shoppers compare, budget, finance and buy the car that best meets their needs.

Bank Of America Corp. stock has also gained 8.31% of its value over the past 7 days. However, BAC stock has inclined by 2.85% in the 3 months of the year. Over the past six months meanwhile, it has gained 6.65% and lost -9.48% year-on date.

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The market cap for BAC stock reached $237.25 billion, with 8.00 billion shares outstanding and 7.90 billion shares in the current float. Compared to the average trading volume of 44.83M shares, BAC reached a trading volume of 38299455 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 Corp. [BAC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BAC shares is $33.85 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 2.18. 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.

Keefe Bruyette have made an estimate for Bank Of America Corp. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on November 06, 2023.

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The Average True Range (ATR) for Bank Of America Corp. is set at 0.70, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 1.42. The Price to Book ratio for the last quarter was 0.92. Price to Free Cash Flow for BAC in the course of the last twelve months was 7.73.

BAC stock trade performance evaluation

Bank Of America Corp. [BAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.31. With this latest performance, BAC shares gained by 11.20% in over the last four-week period, additionally plugging by 6.65% over the last 6 months – not to mention a drop of -19.75% 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 69.97, with the RSI for the last a single of trading hit 76.71, and the three-weeks RSI is set at 64.71 for Bank Of America Corp. [BAC]. The present Moving Average for the last 50 days of trading for this stock 27.42, while it was recorded at 29.21 for the last single week of trading, and 29.33 for the last 200 days.

Bank Of America Corp. [BAC]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Bank Of America Corp. [BAC] shares currently have an operating margin of +27.84. Bank Of America Corp.’s Net Margin is presently recorded at +23.82.

Return on Total Capital for BAC is now 4.13, given the latest momentum, and Return on Invested Capital for the company is 5.06. Return on Equity for this stock inclined to 10.13, with Return on Assets sitting at 0.88. When it comes to the capital structure of this company, Bank Of America Corp. [BAC] has a Total Debt to Total Equity ratio set at 186.28. Additionally, BAC Total Debt to Total Capital is recorded at 65.07, with Total Debt to Total Assets ending up at 16.68. Long-Term Debt to Equity for the company is recorded at 109.50, with the Long-Term Debt to Total Capital now at 34.27.

Reflecting on the efficiency of the workforce at the company, Bank Of America Corp. [BAC] managed to generate an average of $126,857 per employee.Bank Of America Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.04.

Earnings per share (EPS) analysis for Bank Of America Corp. [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 Corp. go to 24.37%.

Bank Of America Corp. [BAC]: Institutional Ownership

The top three institutional holders of BAC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in BAC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in BAC stock with ownership which is approximately 5.7994%.

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