In the latest trading session, 5.86 million Bank Of America Corp. (NYSE:BAC) shares changed hands as the company’s beta touched 1.34. With the company’s most recent per share price at $42.15 changed hands at -$0.17 or -0.39% at last look, the market valuation stands at $324.12B. BAC’s current price is a discount, trading about -5.43% off its 52-week high of $44.44. The share price had its 52-week low at $24.96, which suggests the last value was 40.78% up since then. When we look at Bank Of America Corp.’s average trading volume, we note the 10-day average is 35.18 million shares, with the 3-month average coming to 39.02 million.
Analysts gave the Bank Of America Corp. (BAC) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.88. If we narrow down to specifics, the data shows that 0 out of 20 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended BAC as a Hold, 14 felt it is a Buy and 0 rated the stock as Underweight. Bank Of America Corp.’s EPS for the current quarter is expected to be 0.79.
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Bank Of America Corp. (NYSE:BAC) trade information
Instantly BAC was in red as seen in intraday trades today. With action 0.58%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 25.20%, with the 5-day performance at 0.58% in the green. However, in the 30-day time frame, Bank Of America Corp. (NYSE:BAC) is 4.68% up. Looking at the short shares, we see there were 67.38 million shares sold at short interest cover period of 1.68 days.
The consensus price target for the stock as assigned by Wall Street analysts is 45, meaning bulls need an upside of 6.33% from its recent market value. According to analyst projections, BAC’s forecast low is 36 with 144 as the target high. To hit the forecast high, the stock’s price needs a -241.64% plunge from its current level, while the stock would need to tank 14.59% for it to hit the projected low.
Bank Of America Corp. (BAC) estimates and forecasts
Data shows that the Bank Of America Corp. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 11.73% over the past 6 months, a -4.68% in annual growth rate that is considerably lower than the industry average of 21.10%. Year-over-year growth is forecast to reach 11.90% up from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of 25.2B. 6 analysts are of the opinion that Bank Of America Corp.’s revenue for the current quarter will be 26.63B. The company’s revenue for the corresponding quarters a year ago was 20.37B and 25.98B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 23.70%. The estimates for the next quarter sales put growth at 2.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 3.37%. The 2024 estimates are for Bank Of America Corp. earnings to increase by 4.13%, but the outlook for the next 5-year period is at 8.04% per year.
BAC Dividends
Bank Of America Corp. is expected to release its next quarterly earnings report on 2025-Jan-16. The 2.32% annual yield figure for the share gives it an annual dividend of 0.98. It is important to note, however, that the 2.32% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 2.44 per year.
Bank Of America Corp. (NYSE:BAC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 10.16% of Bank Of America Corp. shares while 61.23% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 68.16%. There are 61.23% institutions holding the Bank Of America Corp. stock share, with BERKSHIRE HATHAWAY INC the top institutional holder. As of 2024-06-30, the company held 12.9622% of the shares, roughly 1.03 billion BAC shares worth $41.08 billion.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 8.0524% or 641.63 million shares worth $25.52 billion as of 2024-06-30.
Among Mutual Funds, the top two as of Jun 30, 2024 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 209.9 shares estimated at $8.81 billion under it, the former controlled 2.71% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.25% of the shares, roughly 174.62 shares worth around $7.33 billion.
