In today’s recent session, 11.74 million shares of the Bank Of America Corp. (NYSE:BAC) have been traded, and its beta is 1.35. Most recently the company’s share price was $38.24, and it changed around $1.32 or 3.58% from the last close, which brings the market valuation of the company to $296.73B. BAC at last check was trading at a discount to its 52-week high of $44.44, offering almost -16.21% off that amount. The share price’s 52-week low was $24.96, which indicates that the recent value has risen by an impressive 34.73% since then. We note from Bank Of America Corp.’s average daily trading volume that its 10-day average is 51.59 million shares, with the 3-month average coming to 38.25 million.
Bank Of America Corp. stock received a consensus recommendation rating of Buy, based on a mean score of 2.08. If we narrow it down even further, the data shows that 0 out of 30 analysts rate the stock as a Sell; another 6 rate it as Overweight. Among the rest, 7 recommended BAC as a Hold, whereas 16 deemed it a Buy, and 1 rated it as Underweight. Bank Of America Corp. is expected to report earnings per share of 0.81 for the current quarter.
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Bank Of America Corp. (NYSE:BAC) trade information
Instantly BAC has been showing a green trend so far today with a performance of 3.58% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 40.45 on recent trading dayincreased the stock’s daily price by 5.46%. The company’s shares are currently up 13.57% year-to-date, but still down -5.14% over the last five days. On the other hand, Bank Of America Corp. (NYSE:BAC) is -7.68% down in the 30-day period. We can see from the shorts that 72.01 million shares have been sold at a short interest cover period of 2.14 day(s).
The consensus price target as assigned by Wall Street analysts is $44, which translates to bulls needing to increase their stock price by 13.09% from its current value. Analyst projections state that BAC is forecast to be at a low of $36 and a high of $144.
Bank Of America Corp. (BAC) estimates and forecasts
Bank Of America Corp. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 15.74 percent over the past six months and at a -4.09% annual growth rate that is well below the industry average of -3.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -10.00% in revenue this quarter, and will report an increase of 140.00% in the next quarter. The year-over-year growth rate is expected to be 12.30%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of 25.67B in revenue for the current quarter. 9 analysts expect Bank Of America Corp. to make 25.39B in revenue for the current ending quarter. Forecasts for the next quarter put sales growth at 24.60%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 3.37%. Bank Of America Corp. earnings are expected to increase by 5.63% in 2024, but the outlook is positive 9.60% per year for the next five years.
BAC Dividends
Bank Of America Corp.’s next quarterly earnings report is expected to be released on 2024-Oct-15. The annual dividend yield of the stock is 2.51 percent and its annual dividend per share was 0.96. It is important to note, however, that the 2.51% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 2.43 per year.
Bank Of America Corp. (NYSE:BAC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 12.23% of Bank Of America Corp. shares, and 60.21% of them are in the hands of institutional investors. The stock currently has a share float of 68.60%. Bank Of America Corp. stock is held by 3598.0 institutions, with BERKSHIRE HATHAWAY INC being the largest institutional investor. By 2024-03-31, it held 12.9622% of the shares, which is about 1.03 billion shares worth $39.17 billion.
VANGUARD GROUP INC, with 8.0271% or 644.46 million shares worth $24.44 billion as of 2024-03-31, holds the second largest percentage of outstanding shares.
