In the latest trading session, 19.49 million Bank of America Corporation (NYSE:BAC) shares changed hands as the company’s beta touched 1.56. With the company’s most recent per share price at $39.34 changing hands around $0.56 or 1.44% at last look, the market valuation stands at $341.06B. BAC’s current price is a discount, trading about -10.55% off its 52-week high of $43.49. The share price had its 52-week low at $22.39, which suggests the last value was 43.09% up since then. When we look at Bank of America Corporation’s average trading volume, we note the 10-day average is 58.97 million shares, with the 3-month average coming to 47.53 million.
Analysts gave the Bank of America Corporation (BAC) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 2 out of 26 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 6 recommended BAC as a Hold, 15 felt it is a Buy and 1 rated the stock as Underweight. Bank of America Corporation’s EPS for the current quarter is expected to be $0.77.
Bank of America Corporation (NYSE:BAC) trade information
Instantly BAC is in green as seen in intraday trades today. With action -7.36%, the performance over the past five days has been red. The jump to weekly highs of 42.10 on Friday, 06/18/21 added 1.44% to the stock’s daily price. The company’s shares are showing year-to-date upside of 27.94%, with the 5-day performance at -7.36% in the red. However, in the 30-day time frame, Bank of America Corporation (NYSE:BAC) is -7.60% down. Looking at the short shares, we see there were 80.63 million shares sold at short interest cover period of 2 days.
The consensus price target for the stock as assigned by Wall Street analysts is $43.54, meaning bulls need an upside of 9.65% from its recent market value. According to analyst projections, BAC’s forecast low is $35.00 with $52.00 as the target high. To hit the forecast high, the stock’s price needs a -32.18% plunge from its current level, while the stock would need to tank 11.03% for it to hit the projected low.
Bank of America Corporation (BAC) estimates and forecasts
Data shows that the Bank of America Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 35.03% over the past 6 months, a 66.84% in annual growth rate that is considerably higher than the industry average of 38.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Bank of America Corporation will rise 108.10%, while the growth in revenue is estimated to hit 43.10% for the next quarter. Year-over-year growth is forecast to reach 3.10% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $22.14 billion. 5 analysts are of the opinion that Bank of America Corporation’s revenue for the quarter ending Sep 2021 will be $21.82 billion. The estimates for the next quarter sales put growth at 4.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 7.40%. The 2021 estimates are for Bank of America Corporation earnings to decrease by -32.00%, but the outlook for the next 5-year period is at 24.29% per year.
Bank of America Corporation is expected to release its next quarterly earnings report in July. The 1.86% annual yield figure for the share gives it an annual dividend of 0.72. It is important to note, however, that the 1.86% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Bank of America Corporation (NYSE:BAC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.12% of Bank of America Corporation shares while 73.16% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 73.25%. There are 73.16% institutions holding the Bank of America Corporation stock share, with Berkshire Hathaway, Inc the top institutional holder. As of Mar 30, 2021, the company held 11.79% of the shares, roughly 1.01 billion BAC shares worth $39.08 billion.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 7.25% or 621.6 million shares worth $24.05 billion as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 219.04 million shares estimated at $8.47 billion under it, the former controlled 2.56% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 1.82% of the shares, roughly 155.57 million shares worth around $6.02 billion.