Bank Of America Corp. (NYSE:BAC)’s traded shares stood at 3.79 million during the latest session, with the company’s beta value hitting 1.33. At the last check today, the stock’s price was $42.18, to imply a decrease of -0.38% or -$0.16 in intraday trading. The BAC share’s 52-week high remains $44.44, putting it -5.36% down since that peak but still an impressive 40.83% since price per share fell to its 52-week low of $24.96. The company has a valuation of $324.31B, with an average of 36.34 million shares in intraday trading volume over the past 10 days and average of 38.54 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Bank Of America Corp. (BAC), translating to a mean rating of 1.88. Of 20 analyst(s) looking at the stock, 0 analyst(s) give BAC a Sell rating. 0 of those analysts rate the stock as Overweight while 6 advise Hold as 14 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.79.
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Bank Of America Corp. (NYSE:BAC) trade information
After registering a -0.38% downside in the latest session, Bank Of America Corp. (BAC) has traded red over the past five days. The 5-day price performance for the stock is -0.99%, and 7.46% over 30 days. With these gigs, the year-to-date price performance is 25.27%. Short interest in Bank Of America Corp. (NYSE:BAC) saw shorts transact 67.38 million shares and set a 1.68 days time to cover.
The extremes give us $36 and $144 for target low and target high price respectively. As such, BAC has been trading -241.39% off suggested target high and 14.65% from its likely low.
Bank Of America Corp. (BAC) estimates and forecasts
Looking at statistics comparing Bank Of America Corp. share performance against respective industry, we note that the company has underperformed competitors. Bank Of America Corp. (BAC) shares are 11.26% up over the last 6 months, with its year-to-date growth rate lower than industry average at -4.68% against 21.30%. Revenue is forecast to grow 125.70% this quarter before jumping 2.40% for the next one. The rating firms project that company’s revenue will grow 11.90% compared to the previous financial year.
Revenue forecast for the current quarter as set by 8 analysts is 25.2B. Meanwhile, for the current quarter, a total of 6 analyst(s) estimate revenue growth to 26.61B.Earnings reports from the last fiscal year show that sales brought in 20.37B and 25.98B respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 23.70% before jumping 2.40% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 3.37% for the past 5-year period. While 2024 is set for a 4.14% return in earnings, projections for the next 5 years are at 8.04% annually.
BAC Dividends
Bank Of America Corp. has its next earnings report out on 2025-Jan-16. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Bank Of America Corp. has a forward dividend ratio of 0.98, with the share yield ticking at 2.32% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 2.44%.
Bank Of America Corp. (NYSE:BAC)’s Major holders
Bank Of America Corp. insiders hold 10.05% of total outstanding shares, with institutional holders owning 61.31% of the shares at 68.16% float percentage. In total, 61.31% institutions holds shares in the company, led by BERKSHIRE HATHAWAY INC. As of 2024-06-30, the company held over 1.03 billion shares (or 12.9622% of shares), all amounting to roughly $41.08 billion.
The next major institution holding the largest number of shares is VANGUARD GROUP INC with 641.63 million shares, or about 8.0524% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $25.52 billion.
We also have Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund as the top two Mutual Funds with the largest holdings of the Bank Of America Corp. (BAC) shares. Going by data provided on Jun 30, 2024, Vanguard Total Stock Market Index Fund holds roughly 209.9 shares. This is just over 2.71% of the total shares, with a market valuation of $8.86 billion. Data from the same date shows that the other fund manager holds a little less at 174.62, or 2.25% of the shares, all valued at about 7.38 billion.
