Can Bank of America Corporation (NYSE: BAC) Still Be Considered A Loss When It’s Down -26.73% YTD? – Marketing Sentinel
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Can Bank of America Corporation (NYSE: BAC) Still Be Considered A Loss When It’s Down -26.73% YTD?

During the recent session, Bank of America Corporation (NYSE:BAC)’s traded shares were 10.97 million, with the beta value of the company hitting 1.38. At the last check today, the stock’s price was $32.03, reflecting an intraday loss of -1.75% or -$0.57. The 52-week high for the BAC share is $50.11, that puts it down -56.45 from that peak though still a striking 3.65% gain since the share price plummeted to a 52-week low of $30.86. The company’s market capitalization is $262.08B, and the average intraday trading volume over the past 10 days was 52.78 million shares, and the average trade volume was 49.84 million shares over the past three months.

Bank of America Corporation (BAC) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. BAC has a Sell rating from 1 analyst(s) out of 28 analysts who have looked at this stock. 10 analyst(s) recommend to Hold the stock while 5 suggest Overweight, and 12 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.82.

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Bank of America Corporation (NYSE:BAC) trade information

Bank of America Corporation (BAC) registered a -1.75% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -1.75% in intraday trading to $32.03 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is 3.62%, and it has moved by -3.72% in 30 days. Based on these gigs, the overall price performance for the year is -18.44%. The short interest in Bank of America Corporation (NYSE:BAC) is 75.26 million shares and it means that shorts have 1.46 day(s) to cover.

The consensus price target of analysts on Wall Street is $47.47, which implies an increase of 32.53% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $33.25 and $66.00 respectively. As a result, BAC is trading at a discount of -106.06% off the target high and -3.81% off the low.

Bank of America Corporation (BAC) estimates and forecasts

Statistics show that Bank of America Corporation has outperformed its competitors in share price, compared to the industry in which it operates. Bank of America Corporation (BAC) shares have gone down -24.47% during the last six months, with a year-to-date growth rate more than the industry average at -6.44% against -9.40. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -20.40% this quarter and then jump 2.40% in the quarter after that. In the rating firms’ projections, revenue will increase 5.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $23.17 billion as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $23.82 billion by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 19.10%. While earnings are projected to return 90.70% in 2022, the next five years will return 6.49% per annum.

BAC Dividends

Bank of America Corporation is due to release its next quarterly earnings between April 13 and April 18. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Bank of America Corporation is 0.84, with the dividend yield indicating at 2.58 percent, continuing the trend of increasing dividends in recent years.

Bank of America Corporation (NYSE:BAC)’s Major holders

Bank of America Corporation insiders own 0.12% of total outstanding shares while institutional holders control 72.13%, with the float percentage being 72.21%. Berkshire Hathaway, Inc is the largest shareholder of the company, while 3,393 institutions own stock in it. As of Dec 30, 2021, the company held over 1.01 billion shares (or 1.25% of all shares), a total value of $44.94 billion in shares.

The next largest institutional holding, with 586.19 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 0.73% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $26.08 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Bank of America Corporation (BAC) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Dec 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 197.7 million shares. This amounts to just over 0.25 percent of the company’s overall shares, with a $8.8 billion market value. The same data shows that the other fund manager holds slightly less at 152.53 million, or about 0.19% of the stock, which is worth about $6.79 billion.

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