Bank Of America Corp [NYSE: BAC] loss -0.54% or -0.26 points to close at $47.51 with a heavy trading volume of 23262008 shares.
The daily chart for BAC points out that the company has recorded 18.80% gains over the past six months.
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If we look at the average trading volume of 36.61M shares, BAC reached to a volume of 23262008 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 $48.70 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 1.70. 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.
Citigroup have made an estimate for Bank Of America Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 08, 2024. The new note on the price target was released on September 03, 2024, representing the official price target for Bank Of America Corp stock. Previously, the target price had yet another raise from $37 to $42, while Piper Sandler kept a Neutral rating on BAC stock.
The Average True Range (ATR) for Bank Of America Corp is set at 0.81, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 1.85. The Price to Book ratio for the last quarter was 1.34. Price to Free Cash Flow for BAC in the course of the last twelve months was 19.98.
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 2.26. With this latest performance, BAC shares gained by 12.29% in over the last four-week period, additionally plugging by 18.80% over the last 6 months – not to mention a rise of 56.75% 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 71.03, with the RSI for the last a single of trading hit 71.88, and the three-weeks RSI is set at 69.29 for Bank Of America Corp [BAC]. The present Moving Average for the last 50 days of trading for this stock 42.86, while it was recorded at 47.51 for the last single week of trading, and 39.54 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 1.02.
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 0.35/share EPS, while the average EPS was predicted by analysts to be reported at 0.58/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -0.23. 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 8.04%.
An analysis of Institutional ownership at Bank Of America Corp [BAC]
There are presently around $63.30%, or 70.39%% 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%.
