For Bank Of America Corp. [BAC], Analyst sees a rise to $41. What next?

Bank Of America Corp. [NYSE: BAC] closed the trading session at $33.47. The company report on January 31, 2024 at 4:15 PM that Bank of America Declares First-Quarter 2024 Stock Dividend.

Bank of America Corporation today announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.24 per share, payable on March 29, 2024 to shareholders of record as of March 1, 2024.

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The Board also declared a regular quarterly cash dividend of $1.75 per share on the 7% Cumulative Redeemable Preferred Stock, Series B. The dividend is payable on April 25, 2024 to shareholders of record as of April 11, 2024.

The stocks have a year to date performance of -0.59 percent and weekly performance of 0.12 percent. The stock has been moved at 6.56 percent over the last six months. The stock has performed -0.18 percent around the most recent 30 days and changed 26.78 percent over the most recent 3-months.

If compared to the average trading volume of 43.59M shares, BAC reached to a volume of 40364670 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 $37.50 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 2.11. 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.

Morgan Stanley have made an estimate for Bank Of America Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 30, 2024.

The Average True Range (ATR) for Bank Of America Corp. is set at 0.74, 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 8.64.

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 0.12. With this latest performance, BAC shares dropped by -0.18% in over the last four-week period, additionally plugging by 6.56% over the last 6 months – not to mention a drop of -6.82% 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 54.14, with the RSI for the last a single of trading hit 52.21, and the three-weeks RSI is set at 55.84 for Bank Of America Corp. [BAC]. The present Moving Average for the last 50 days of trading for this stock 32.44, while it was recorded at 33.89 for the last single week of trading, and 29.58 for the last 200 days.

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

Bank Of America Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.02.

Earnings per share (EPS) analysis for Bank Of America Corp. [BAC] stock

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]: Institutional Ownership

The top three institutional holders of BAC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. 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%.