Bank Of America Corp. [BAC] is 12.62% higher this YTD. Is it still time to buy?

Bank Of America Corp. [NYSE: BAC] gained 0.29% on the last trading session, reaching $37.92 price per share at the time. The company report on March 27, 2024 at 8:55 AM that New BofA Platform Connects Small Businesses to CDFI Capital and Coaching.

Partnership with Community Reinvestment Fund, USA, Provides Access to 150 CDFIs and Business Support Organizations.

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Bank of America has launched a new Access to Capital Connector, an online platform designed to help entrepreneurs and small business owners start and maintain strong and resilient businesses by linking them directly to local Community Development Financial Institutions (CDFIs) and other business support organizations for capital, coaching and support.

If compared to the average trading volume of 40.59M shares, BAC reached a trading volume of 42223296 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $38.12 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 2.26. 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.

HSBC Securities have made an estimate for Bank Of America Corp. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 28, 2024. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $32 to $41. The new note on the price target was released on January 30, 2024, representing the official price target for Bank Of America Corp. stock.

The Average True Range (ATR) for Bank Of America Corp. is set at 0.68, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 1.70. The Price to Book ratio for the last quarter was 1.14.

Trading performance analysis for BAC stock

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 1.09. With this latest performance, BAC shares gained by 10.52% in over the last four-week period, additionally plugging by 39.05% over the last 6 months – not to mention a rise of 34.85% 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 73.21, with the RSI for the last a single of trading hit 76.10, and the three-weeks RSI is set at 70.48 for Bank Of America Corp. [BAC]. The present Moving Average for the last 50 days of trading for this stock 34.54, while it was recorded at 37.35 for the last single week of trading, and 30.82 for the last 200 days.

Bank Of America Corp. [BAC]: A deeper dive into fundamental analysis

Bank Of America Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.99.

Bank Of America Corp. [BAC]: An earnings per share (EPS) analysis

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%.

An analysis of Institutional ownership at Bank Of America Corp. [BAC]

There are presently around $219.94 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%.