Bank of America Corporation (NYSE:BAC) has a beta value of 1.58 and has seen 20,957,014 shares traded in the recent trading session. The company, currently valued at $341.6 Billion, closed the recent trade at $39.61 per share which meant it lost -$0.45 on the day or -1.12% during that session. The BAC stock price is -0.91% off its 52-week high price of $39.97 and 49.26% above the 52-week low of $20.1. If we look at the company’s 10-day average daily trading volume, we find that it stood at 54.31 Million shares traded. The 3-month trading volume is 56.32 Million shares.
The consensus among analysts is that Bank of America Corporation (BAC) is an Overweight stock at the moment, with a recommendation rating of 2.2. 1 analysts rate the stock as a Sell, while 3 rate it as Overweight. 8 out of 28 have rated it as a Hold, with 15 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.66.
Bank of America Corporation (NYSE:BAC) trade information
Despite being -1.12% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Monday, Apr 12 when the BAC stock price touched $40.38- or saw a rise of 1.83%. Year-to-date, Bank of America Corporation shares have moved 30.77%, while the 5-day performance has seen it change -0.14%. Over the past 30 days, the shares of Bank of America Corporation (NYSE:BAC) have changed 4.47%. Short interest in the company has seen 86.46 Million shares shorted with days to cover at 1.54.
Wall Street analysts have a consensus price target for the stock at $40.73, which means that the shares’ value could jump 2.83% from the levels at last check today. The projected low price target is $30 while the price target rests at a high of $50. In that case, then, we find that the latest price level in today’s session is +26.23% off the targeted high while a plunge would see the stock lose -24.26% from the levels at last check today.
Bank of America Corporation (BAC) estimates and forecasts
Figures show that Bank of America Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained +58.72% over the past 6 months, with this year growth rate of 43.85%, compared to 35.6% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 65% and 83.8% for the next quarter. Revenue growth from the last financial year stood is estimated to be +0.5%.
7 analysts offering their estimates for the company have set an average revenue estimate of $22.13 Billion for the current quarter. 7 have an estimated revenue figure of $21.47 Billion for the next quarter concluding in June 01, 2021. Year-ago sales stood $22.91 Billion for this quarter, and analysts expect sales will grow by -3.4% for the current quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +7.4% over the past 5 years. Earnings growth for 2021 is a modest -32% while over the next 5 years, the company’s earnings are expected to increase by 1.11%.
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Bank of America Corporation is expected to release its next earnings report between April 15 and April 15 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.72 at a share yield of 1.8%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 1.83%.
Bank of America Corporation (NYSE:BAC)’s Major holders
Insiders own 0.11% of the company shares, while shares held by institutions stand at 72.13% with a share float percentage of 72.21%. Investors are also buoyed by the number of investors in a company, with Bank of America Corporation having a total of 2953 institutions that hold shares in the company. The top two institutional holders are Berkshire Hathaway, Inc with over 1.01 Billion shares worth more than $30.62 Billion. As of December 30, 2020, Berkshire Hathaway, Inc held 11.71% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 614.74 Million shares as of December 30, 2020. The firm’s total holdings are worth over $18.63 Billion and represent 7.13% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. As of December 30, 2020, the former fund manager holds about 2.54% shares in the company for having 219000000 shares of worth $6.65 Billion while later fund manager owns 152.54 Million shares of worth $4.62 Billion as of December 30, 2020, which makes it owner of about 1.77% of company’s outstanding stock.