Bank Of America Corp. [NYSE: BAC] traded at a high on Friday, posting a 0.51 gain after which it closed the day’ session at $37.11. The company report on April 2, 2024 at 10:00 AM that Tory Burch and BofA Unveil Free Online Educational Resource for Women Entrepreneurs.
Builds on 10-year Partnership, $100M Capital Deployed to Women-Owned Businesses.
Bank of America and the Tory Burch Foundation today unveiled a new pillar in their long-term commitment to empower women entrepreneurs. The Tory Burch Foundation Business Webinars presented by Bank of America is a virtual program featuring education on a range of entrepreneurial topics and a robust content library for on-demand learning. It is poised to be the largest, free online educational resource available for women entrepreneurs — building on a decade-long partnership– including The Tory Burch and Bank of America Capital Program, which provided more than $100 million in low-cost capital to women entrepreneurs.
The results of the trading session contributed to over 29753632 shares changing hands. Over the past one week, the price volatility of Bank Of America Corp. stands at 2.03% while the volatility over the past one month is 1.82%.
The market cap for BAC stock reached $292.15 billion, with 7.90 billion shares outstanding and 7.86 billion shares in the current float. Compared to the average trading volume of 40.83M shares, BAC reached a trading volume of 29753632 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 $39.01 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 2.33. 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.
UBS have made an estimate for Bank Of America Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 04, 2024. While these analysts kept the previous recommendation, HSBC Securities raised their target price from $38 to $39. The new note on the price target was released on March 28, 2024, representing the official price target for Bank Of America Corp. stock. Previously, the target price had yet another raise from $32 to $41, while Morgan Stanley kept a Overweight rating on BAC stock.
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 1.66. The Price to Book ratio for the last quarter was 1.11.
How has BAC stock performed recently?
Bank Of America Corp. [BAC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.14. With this latest performance, BAC shares gained by 4.77% in over the last four-week period, additionally plugging by 43.06% over the last 6 months – not to mention a rise of 32.63% 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 59.66, with the RSI for the last a single of trading hit 55.98, and the three-weeks RSI is set at 61.01 for Bank Of America Corp. [BAC]. The present Moving Average for the last 50 days of trading for this stock 35.02, while it was recorded at 37.26 for the last single week of trading, and 31.02 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]
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%.
Insider trade positions for Bank Of America Corp. [BAC]
There are presently around $218.95 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 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in BAC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in BAC stock with ownership which is approximately 5.8386%.
