During the last session, Bank Of America Corp. (NYSE:BAC)’s traded shares were 36.91 million, with the beta value of the company hitting 1.34. At the end of the trading day, the stock’s price was $42.31, reflecting an intraday loss of -0.52% or -$0.22. The 52-week high for the BAC share is $44.44, that puts it down -5.03 from that peak though still a striking 40.25% gain since the share price plummeted to a 52-week low of $25.28. The company’s market capitalization is $325.31B, and the average intraday trading volume over the past 10 days was 29.53 million shares, and the average trade volume was 37.55 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 1.83. 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 0.79.
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Bank Of America Corp. (NYSE:BAC) trade information
Bank Of America Corp. (BAC) registered a -0.52% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.52% in intraday trading to $42.31, hitting a weekly high. The stock’s 5-day price performance is -0.07%, and it has moved by 7.88% in 30 days. Based on these gigs, the overall price performance for the year is 64.69%. The short interest in Bank Of America Corp. (NYSE:BAC) is 60.32 million shares and it means that shorts have 1.71 day(s) to cover.
The consensus price target of analysts on Wall Street is $45, which implies an increase of 5.98% 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 -240.35% off the target high and 14.91% 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 14.51% during the last six months, with a year-to-date growth rate less than the industry average at -4.68% against 20.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 125.70% this quarter and then jump 2.40% in the quarter after that. In the rating firms’ projections, revenue will increase 11.90% 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 25.2B as predicted by 8 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to 26.63B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 20.37B and 25.98B respectively. In this case, analysts expect current quarter sales to grow by 23.70% and then jump by 2.50% in the coming quarter.
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 4.20% in 2024, the next five years will return 8.04% per annum.
BAC Dividends
Bank Of America Corp. is due to release its next quarterly earnings on 2025-Jan-16. 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 2.32 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 10.05% of total outstanding shares while institutional holders control 61.31%, with the float percentage being 68.16%. BERKSHIRE HATHAWAY INC is the largest shareholder of the company, while 3610.0 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.
