In recent trading session, Bank of America Corporation (NYSE:BAC) saw 23.82 million shares changing hands at last check today with its beta currently measuring 1.47. Company’s recent per share price level of $48.19 trading at -$0.57 or -1.16% at last check today assigns it a market valuation of $390.54B. That most recent trading price of BAC’s stock is at a discount of -3.92% from its 52-week high price of $50.08 and is indicating a premium of 38.64% from its 52-week low price of $29.57. Taking a look at company’s average trading volume of 46.53 million if we extend that period to 3-months.
For Bank of America Corporation (BAC), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.40. Splitting up the data highlights that, out of 28 analysts covering the stock, 1 rated the stock as a Sell while 2 recommended an Overweight rating for the stock. 8 suggested the stock as a Hold whereas 15 see the stock as a Buy. 2 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.77 in the current quarter.
Bank of America Corporation (NYSE:BAC) trade information
Upright in the red during last session for losing -1.16%, in the last five days BAC remained trading in the green while hitting it’s week-highest on Monday, 01/10/22 when the stock touched $48.19 price level, adding 3.77% to its value on the day. Bank of America Corporation’s shares saw a change of 9.60% in year-to-date performance and have moved 1.31% in past 5-day. Bank of America Corporation (NYSE:BAC) showed a performance of 10.49% in past 30-days.
Wall Street analysts have assigned a consensus price target of $51.47 to the stock, which implies a rise of 6.37% to its recent value today. Analysts have been projecting $40.00 as a low price target for the stock while placing it at a high target of $64.00. It follows that stock’s current price would drop -32.81% in reaching the projected high whereas dropping to the targeted low would mean a gain of 17.0% for stock’s current value.
Bank of America Corporation (BAC) estimates and forecasts
Statistics highlight that Bank of America Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company added 28.59% of value to its shares in past 6 months, showing an annual growth rate of 86.63% while that of industry is 40.90. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 30.50% in the current quarter and calculating -11.60% decrease in the next quarter. This year revenue growth is estimated to rise 4.20% from the last financial year’s standing.
6 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $22.29 billion for the same. And 7 analysts are in estimates of company making revenue of $23.3 billion in the next quarter that will end on Mar 2022. Company posted $20.21 billion and $22.93 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 10.30% while estimating it to be 1.60% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 7.40% during past 5 years. In 2022, company’s earnings growth rate is likely to be around -32.00% while estimates for its earnings growth in next 5 years are of 23.89%.
Bank of America Corporation is more likely to be releasing its next quarterly report between January 17 and January 21 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Bank of America Corporation (NYSE:BAC)’s Major holders
Insiders are in possession of 0.11% of company’s total shares while institution are holding 72.70 percent of that, with stock having share float percentage of 72.78%. Investors also watch the number of corporate investors in a company very closely, which is 72.70% institutions for Bank of America Corporation that are currently holding shares of the company. Berkshire Hathaway, Inc is the top institutional holder at BAC for having 1.01 billion shares of worth $42.88 billion. And as of Sep 29, 2021, it was holding 12.34% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group, Inc. (The), which was holding about 614.83 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 7.51% of outstanding shares, having a total worth of $26.1 billion.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2021, the former fund manager was holding 214.03 million shares of worth $9.09 billion or 2.62% of the total outstanding shares. The later fund manager was in possession of 155.51 million shares on Sep 29, 2021, making its stake of worth around $6.6 billion in the company or a holder of 1.90% of company’s stock.