Bank Of America Corp. [NYSE: BAC] traded at a low on Friday, posting a -0.49 loss after which it closed the day’ session at $34.35. The company report on March 1, 2024 at 7:00 AM that Bank of America Announces Redemption of JPY 58,500,000,000 0.383% Fixed/Floating Rate Senior Notes, due March 18, 2025.
Bank of America Corporation announced today that it will redeem on March 18, 2024 all JPY 58,500,000,000 principal amount outstanding of its 0.383% Fixed/Floating Rate Senior Notes, due March 18, 2025 (ISIN: XS1963075913; Common Code: 196307591) (the “Notes”).
The Notes were issued under the Bank of America Corporation U.S.$65,000,000,000 Euro Medium-Term Note Program. The redemption price for the Notes will be equal to the Optional Redemption Amount of JPY 100,000,000 per JPY 100,000,000 Calculation Amount (as specified in the applicable Pricing Supplement dated March 13, 2019), plus accrued and unpaid interest to, but excluding, the redemption date of March 18, 2024.
The results of the trading session contributed to over 35938238 shares changing hands. Over the past one week, the price volatility of Bank Of America Corp. stands at 1.78% while the volatility over the past one month is 2.05%.
The market cap for BAC stock reached $270.43 billion, with 7.90 billion shares outstanding and 7.86 billion shares in the current float. Compared to the average trading volume of 41.92M shares, BAC reached a trading volume of 35938238 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $37.72 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 new note on the price target was released on January 16, 2024, representing the official price target for Bank Of America Corp. stock. On November 06, 2023, analysts increased their price target for BAC shares from 29 to 30.
The Average True Range (ATR) for Bank Of America Corp. is set at 0.71, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 1.54. The Price to Book ratio for the last quarter was 1.03.
How has BAC stock performed recently?
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 1.27. With this latest performance, BAC shares gained by 1.00% in over the last four-week period, additionally plugging by 18.29% over the last 6 months – not to mention a rise of 0.62% 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 58.77, with the RSI for the last a single of trading hit 60.52, and the three-weeks RSI is set at 58.16 for Bank Of America Corp. [BAC]. The present Moving Average for the last 50 days of trading for this stock 33.46, while it was recorded at 34.21 for the last single week of trading, and 30.08 for the last 200 days.
Bank Of America Corp. [BAC]: Deeper insight into the fundamentals
Bank Of America Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.99.
Earnings analysis for Bank Of America Corp. [BAC]
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%.
Insider trade positions for Bank Of America Corp. [BAC]
There are presently around $195.79 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%.
