During the recent session, Bank Of America Corp. (NYSE:BAC)’s traded shares were 15.79 million, with the beta value of the company hitting 1.33. At the last check today, the stock’s price was $41.94, reflecting an intraday gain of 4.94% or $1.97. The 52-week high for the BAC share is $44.44, that puts it down -5.96 from that peak though still a striking 40.49% gain since the share price plummeted to a 52-week low of $24.96. The company’s market capitalization is $325.48B, and the average intraday trading volume over the past 10 days was 27.95 million shares, and the average trade volume was 39.75 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 1.92. 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. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.77.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Bank Of America Corp. (NYSE:BAC) trade information
Bank Of America Corp. (BAC) registered a 4.94% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.94% in intraday trading to $41.94, hitting a weekly high. The stock’s 5-day price performance is 4.57%, and it has moved by 8.16% in 30 days. Based on these gigs, the overall price performance for the year is 55.24%. The short interest in Bank Of America Corp. (NYSE:BAC) is 67.38 million shares and it means that shorts have 1.68 day(s) to cover.
The consensus price target of analysts on Wall Street is $44.5, which implies an increase of 5.75% 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 -243.35% off the target high and 14.16% 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 17.20% during the last six months, with a year-to-date growth rate less than the industry average at -4.97% against -3.70. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -14.40% this quarter and then jump 128.60% in the quarter after that. In the rating firms’ projections, revenue will increase 11.40% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 25.29B as predicted by 9 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to 25.03B by the end of current fiscal year.
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 3.17% in 2024, the next five years will return 9.74% 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 0.98, with the dividend yield indicating at 2.34 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 2.44%.
Bank Of America Corp. (NYSE:BAC)’s Major holders
Bank Of America Corp. insiders own 10.46% of total outstanding shares while institutional holders control 60.69%, with the float percentage being 67.78%. BERKSHIRE HATHAWAY INC is the largest shareholder of the company, while 3619.0 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.
Also, the Mutual Funds coming in first place with the largest holdings of Bank Of America Corp. (BAC) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Jun 30, 2024 indicates that Vanguard Total Stock Market Index Fund owns about 209.9 shares. This amounts to just over 2.71 percent of the company’s overall shares, with a $8.79 billion market value. The same data shows that the other fund manager holds slightly less at 174.62, or about 2.25% of the stock, which is worth about $7.31 billion.
