In recent trading session, Bank Of America Corp. (NYSE:BAC) saw 8.1 million shares changing hands at last check today with its beta currently measuring 1.39. Company’s recent per share price level of $36.19 trading at -$0.46 or -1.26% at last check today assigns it a market valuation of $284.91B. That most recent trading price of BAC’s stock is at a discount of -5.97% from its 52-week high price of $38.35 and is indicating a premium of 31.03% from its 52-week low price of $24.96. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 35.22 million shares which gives us an average trading volume of 40.27 million if we extend that period to 3-months.
Bank Of America Corp. (NYSE:BAC) trade information
Upright in the red during last session for losing -1.26%, in the last five days BAC remained trading in the red while hitting it’s week-highest on Tuesday, 04/09/24 when the stock touched $36.19 price level, adding 4.18% to its value on the day. Bank Of America Corp.’s shares saw a change of 7.48% in year-to-date performance and have moved -1.98% in past 5-day. Bank Of America Corp. (NYSE:BAC) showed a performance of 0.64% in past 30-days. Number of shares sold short was 72.08 million shares which calculate 1.74 days to cover the short interests.
Bank Of America Corp. (BAC) estimates and forecasts
Statistics highlight that Bank Of America Corp. is scoring comparatively lower than the scores of other players of the relevant industry. The company added 33.99% of value to its shares in past 6 months, showing an annual growth rate of -8.48% while that of industry is -7.10. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -18.10% in the current quarter and calculating -9.10% decrease in the next quarter. This year revenue growth is estimated to rise 10.10% from the last financial year’s standing.
11 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $25.46 billion for the same. And 10 analysts are in estimates of company making revenue of $24.96 billion in the next quarter that will end on Jun 2024.
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 3.37% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 2.07% while estimates for its earnings growth in next 5 years are of 24.37%.
BAC Dividends
Bank Of America Corp. is more likely to be releasing its next quarterly report on April 16 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 Corp. (NYSE:BAC)’s Major holders
Insiders are in possession of 13.18% of company’s total shares while institution are holding 58.93 percent of that, with stock having share float percentage of 67.87%. Investors also watch the number of corporate investors in a company very closely, which is 58.93% institutions for Bank Of America Corp. that are currently holding shares of the company. Berkshire Hathaway, Inc is the top institutional holder at BAC for having 1.03 billion shares of worth $29.63 billion. And as of Jun 29, 2023, it was holding 13.00% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 609.51 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 7.67% of outstanding shares, having a total worth of $17.49 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 Jun 29, 2023, the former fund manager was holding 211.14 million shares of worth $6.06 billion or 2.66% of the total outstanding shares. The later fund manager was in possession of 165.08 million shares on Jun 29, 2023, making its stake of worth around $4.74 billion in the company or a holder of 2.08% of company’s stock.
