During the recent session, Bank Of America Corp. (NYSE:BAC)’s traded shares were 10.14 million, with the beta value of the company hitting 1.34. At the last check today, the stock’s price was $40.44, reflecting an intraday gain of 0.68% or $0.27. The 52-week high for the BAC share is $44.44, that puts it down -9.89 from that peak though still a striking 38.28% gain since the share price plummeted to a 52-week low of $24.96. The company’s market capitalization is $313.84B, and the average intraday trading volume over the past 10 days was 36.59 million shares, and the average trade volume was 39.37 million shares over the past three months.
Bank Of America Corp. (BAC) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 2.08. BAC has a Sell rating from 0 analyst(s) out of 20 analysts who have looked at this stock. 6 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 14 recommend a Buy rating for it.
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Bank Of America Corp. (NYSE:BAC) trade information
Bank Of America Corp. (BAC) registered a 0.68% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.68% in intraday trading to $40.44, hitting a weekly high. The stock’s 5-day price performance is 1.70%, and it has moved by 2.39% in 30 days. Based on these gigs, the overall price performance for the year is 39.27%. The short interest in Bank Of America Corp. (NYSE:BAC) is 62.67 million shares and it means that shorts have 1.38 day(s) to cover.
The consensus price target of analysts on Wall Street is $44, which implies an increase of 8.09% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $36 and $144 respectively. As a result, BAC is trading at a discount of -256.08% off the target high and 10.98% off the low.
Bank Of America Corp. (BAC) estimates and forecasts
Statistics show that Bank Of America Corp. has underperformed its competitors in share price, compared to the industry in which it operates. Bank Of America Corp. (BAC) shares have gone up 17.74% during the last six months, with a year-to-date growth rate less than the industry average at -4.09% against -3.50.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 3.37%. While earnings are projected to return 5.65% in 2024, the next five years will return 9.60% per annum.
BAC Dividends
Bank Of America Corp. is due to release its next quarterly earnings on 2024-Oct-15. 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 Corp. is 0.96, with the dividend yield indicating at 2.37 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 2.43%.
Bank Of America Corp. (NYSE:BAC)’s Major holders
Bank Of America Corp. insiders own 11.73% of total outstanding shares while institutional holders control 60.77%, with the float percentage being 68.84%. BERKSHIRE HATHAWAY INC is the largest shareholder of the company, while 3641.0 institutions own stock in it. As of 2024-06-30, the company held over 1.03 billion shares (or 12.9622% of all shares), a total value of $41.08 billion in shares.
The next largest institutional holding, with 641.63 million shares, is of VANGUARD GROUP INC’s that is approximately 8.0524% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $25.52 billion.
