Bank Of America Corp. [NYSE: BAC] stock went on a downward path that fall over -0.34% on Friday, amounting to a one-week price decrease of less than -0.28%.
Over the last 12 months, BAC stock rose by 33.83%. The one-year Bank Of America Corp. stock forecast points to a potential upside of 15.5. The average equity rating for BAC stock is currently 2.00, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $299.91 billion, with 7.90 billion shares outstanding and 7.75 billion shares in the current float. Compared to the average trading volume of 40.05M shares, BAC stock reached a trading volume of 31860343 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 $45.74 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 2.00. 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.
Deutsche Bank have made an estimate for Bank Of America Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 03, 2024. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $37 to $42. The new note on the price target was released on July 09, 2024, representing the official price target for Bank Of America Corp. stock. Previously, the target price had yet another raise to $48, while Seaport Research Partners analysts kept a Buy rating on BAC stock. On June 14, 2024, analysts increased their price target for BAC shares from 37 to 46.
The Average True Range (ATR) for Bank Of America Corp. is set at 0.92, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 1.59. The Price to Book ratio for the last quarter was 1.12. Price to Free Cash Flow for BAC in the course of the last twelve months was 10.05.
BAC Stock Performance Analysis:
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 -0.28. With this latest performance, BAC shares dropped by -0.41% in over the last four-week period, additionally plugging by 8.29% over the last 6 months – not to mention a rise of 33.83% 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 41.73, with the RSI for the last a single of trading hit 37.54, and the three-weeks RSI is set at 44.03 for Bank Of America Corp. [BAC]. The present Moving Average for the last 50 days of trading for this stock 40.13, while it was recorded at 39.04 for the last single week of trading, and 36.87 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 0.9/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 0.08. 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 9.56%.
Bank Of America Corp. [BAC] Institutonal Ownership Details
There are presently around $60.78%, or 68.46%% of BAC stock, in the hands of institutional investors. The top three institutional holders of BAC stocks are: BERKSHIRE HATHAWAY INC with ownership of 1.03 billion shares, which is approximately 12.9622%. VANGUARD GROUP INC, holding 641.63 million shares of the stock with an approximate value of $$25.52 billion in BAC stocks shares; and VANGUARD GROUP INC, currently with $$18.82 billion in BAC stock with ownership which is approximately 5.9376%.
