Bank Of America Corp. [NYSE: BAC] stock went on an upward path that rose over 0.12% on Friday, amounting to a one-week price increase of more than 3.76%. The company report on January 26, 2024 at 4:15 PM that Bank of America Announces Redemptions of Floating Rate Senior Notes Due February 2025 and 1.843% Fixed/Floating Rate Senior Notes Due February 2025.
Bank of America Corporation announced today that it will redeem on February 4, 2024 all $750,000,000 principal amount outstanding of its Floating Rate Senior Notes, due February 2025 (CUSIP No. 06051GKF5) (the “Floating Rate Notes”), and all $1,750,000,000 principal amount outstanding of its 1.843% Fixed/Floating Rate Senior Notes, due February 2025 (CUSIP No. 06051GKG3) (the “Fixed/Floating Rate Notes” and, together with the Floating Rate Notes, the “Notes”). Since February 4, 2024 is not a business day, the redemption price for each series of the Notes, together with accrued and unpaid interest, will be paid on the next succeeding business day, February 5, 2024.
The redemption price for the Floating Rate Notes will be equal to 100% of the principal amount of such series, plus accrued and unpaid interest to, but excluding, February 5, 2024. The redemption price for the Fixed/Floating Rate Notes will be equal to 100% of the principal amount of such series, plus accrued and unpaid interest to, but excluding, February 4, 2024.
Over the last 12 months, BAC stock dropped by -4.13%. The one-year Bank Of America Corp. stock forecast points to a potential upside of 10.28. The average equity rating for BAC stock is currently 2.14, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $264.56 billion, with 7.91 billion shares outstanding and 7.90 billion shares in the current float. Compared to the average trading volume of 44.05M shares, BAC stock reached a trading volume of 30766639 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $37.26 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 2.14. 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.
Odeon have made an estimate for Bank Of America Corp. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 16, 2024.
The Average True Range (ATR) for Bank Of America Corp. is set at 0.65, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 1.51. The Price to Book ratio for the last quarter was 1.00. Price to Free Cash Flow for BAC in the course of the last twelve months was 8.63.
BAC Stock Performance Analysis:
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 3.76. With this latest performance, BAC shares dropped by -1.27% in over the last four-week period, additionally plugging by 4.63% over the last 6 months – not to mention a drop of -4.13% 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 58.88, with the RSI for the last a single of trading hit 60.76, and the three-weeks RSI is set at 59.24 for Bank Of America Corp. [BAC]. The present Moving Average for the last 50 days of trading for this stock 32.01, while it was recorded at 33.02 for the last single week of trading, and 29.47 for the last 200 days.
Insight into Bank Of America Corp. Fundamentals:
Bank Of America Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.02.
BAC Stock EPS
With the latest financial reports released by the company, Bank Of America Corp. posted 0.94/share EPS, while the average EPS was predicted by analysts to be reported at 0.82/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 14.60%. 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] Institutonal Ownership Details
There are presently around $190.55 billion, or None% of BAC stock, in the hands of institutional investors. The top three institutional holders of BAC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BAC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BAC stock with ownership which is approximately 5.8325%.
