In today’s recent session, 6.06 million shares of the Bank Of America Corp (NYSE:BAC) have been traded, and its beta is 1.33. Most recently the company’s share price was $46.47, and it changed around -$0.25 or -0.53% from the last close, which brings the market valuation of the company to $356.59B. BAC at last check was trading at a discount to its 52-week high of $47.02, offering almost -1.18% off that amount. The share price’s 52-week low was $29.32, which indicates that the recent value has risen by an impressive 36.91% since then. We note from Bank Of America Corp’s average daily trading volume that its 10-day average is 45.45 million shares, with the 3-month average coming to 37.27 million.
Bank Of America Corp stock received a consensus recommendation rating of Buy, based on a mean score of 1.74. If we narrow it down even further, the data shows that 0 out of 30 analysts rate the stock as a Sell; another 6 rate it as Overweight. Among the rest, 7 recommended BAC as a Hold, whereas 16 deemed it a Buy, and 1 rated it as Underweight. Bank Of America Corp is expected to report earnings per share of 0.79 for the current quarter.
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Bank Of America Corp (NYSE:BAC) trade information
Instantly BAC has been showing red trend so far today with a performance of -0.53% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 47.02 on recent trading dayincreased the stock’s daily price by 1.17%. The company’s shares are currently up 38.03% year-to-date, but still up 1.34% over the last five days. On the other hand, Bank Of America Corp (NYSE:BAC) is 11.29% up in the 30-day period. We can see from the shorts that 63.84 million shares have been sold at a short interest cover period of 2.02 day(s).
The consensus price target as assigned by Wall Street analysts is $45, which translates to bulls needing to decrease their stock price by -3.27% from its current value. Analyst projections state that BAC is forecast to be at a low of $36 and a high of $144.
Bank Of America Corp (BAC) estimates and forecasts
Bank Of America Corp share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 17.21 percent over the past six months and at a -4.39% annual growth rate that is well below the industry average of 21.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 124.23% in revenue this quarter, and will report an increase of 11.86% in the next quarter. The year-over-year growth rate is expected to be 3.47%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of 25.24B in revenue for the current quarter. 8 analysts expect Bank Of America Corp to make 26.45B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 21.96B and 25.82B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 14.93%. Forecasts for the next quarter put sales growth at 2.44%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 3.37%. Bank Of America Corp earnings are expected to increase by 4.36% in 2024, but the outlook is positive 8.04% per year for the next five years.
BAC Dividends
Bank Of America Corp’s next quarterly earnings report is expected to be released on 2025-Jan-16. The annual dividend yield of the stock is 2.11 percent and its annual dividend per share was 0.98. It is important to note, however, that the 2.11% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 2.44 per year.
Bank Of America Corp (NYSE:BAC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 10.08% of Bank Of America Corp shares, and 63.36% of them are in the hands of institutional investors. The stock currently has a share float of 70.46%. Bank Of America Corp stock is held by 3673.0 institutions, with BERKSHIRE HATHAWAY INC being the largest institutional investor. By 2024-06-30, it held 12.9622% of the shares, which is about 1.03 billion shares worth $41.08 billion.
VANGUARD GROUP INC, with 8.0524% or 641.63 million shares worth $25.52 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
