In recent trading session, Bank Of America Corp (NYSE:BAC) saw 3.25 million shares changing hands at last check today with its beta currently measuring 1.34. Company’s recent per share price level of $47.88 trading at $0.11 or 0.23% at last check today assigns it a market valuation of $367.38B. That most recent trading price of BAC’s stock is at a discount of -0.21% from its 52-week high price of $47.98 and is indicating a premium of 38.76% from its 52-week low price of $29.32. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 34.48 million shares which gives us an average trading volume of 36.85 million if we extend that period to 3-months.
For Bank Of America Corp (BAC), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 1.70. Splitting up the data highlights that, out of 20 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 6 suggested the stock as a Hold whereas 14 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 0.79 in the current quarter.
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Bank Of America Corp (NYSE:BAC) trade information
Upright in the green today for gaining 0.23%, in the last five days BAC remained trading in the green while hitting it’s week-highest on Friday, 11/29/24 when the stock touched $47.88 price level, adding 0.42% to its value on the day. Bank Of America Corp’s shares saw a change of 42.20% in year-to-date performance and have moved 3.06% in past 5-day. Bank Of America Corp (NYSE:BAC) showed a performance of 13.16% in past 30-days. Number of shares sold short was 81.28 million shares which calculate 2.14 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 45 to the stock, which implies a fall of -6.4% to its recent value today. Analysts have been projecting 36 as a low price target for the stock while placing it at a high target of 144. It follows that stock’s current price would jump 24.81% in reaching the projected high whereas dropping to the targeted low would mean a gain of 24.81% for stock’s current value.
Bank Of America Corp (BAC) estimates and forecasts
Statistics highlight that Bank Of America Corp is scoring comparatively lower than the scores of other players of the relevant industry. The company added 19.73% of value to its shares in past 6 months, showing an annual growth rate of -4.39% while that of industry is 21.20. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 3.49% from the last financial year’s standing.
10 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 25.22B for the same. And 9 analysts are in estimates of company making revenue of 26.47B in the next quarter. Company posted 21.96B and 25.82B of sales in current and next quarters respectively a year earlier.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 3.37% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 4.46% while estimates for its earnings growth in next 5 years are of 8.04%.
BAC Dividends
Bank Of America Corp is more likely to be releasing its next quarterly report in December and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt. With an annual yield of 2.05%, the share has a forward dividend of 0.98 which implies that company’s dividend yield remained growing in trailing twelve months while having a 5 year average dividend yield of 2.44%.
Bank Of America Corp (NYSE:BAC)’s Major holders
Insiders are in possession of 10.08% of company’s total shares while institution are holding 63.29 percent of that, with stock having share float percentage of 70.38%. Investors also watch the number of corporate investors in a company very closely, which is 63.29% institutions for Bank Of America Corp that are currently holding shares of the company. BERKSHIRE HATHAWAY INC is the top institutional holder at BAC for having 1.03 billion shares of worth $41.08 billion. And as of 2024-06-30, it was holding 12.9622 of the company’s outstanding shares.
The second largest institutional holder is VANGUARD GROUP INC, which was holding about 641.63 million shares on 2024-06-30. The number of shares represents firm’s hold over 8.0524 of outstanding shares, having a total worth of $25.52 billion.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 30, 2024 , the former fund manager was holding 209.9 shares of worth $10.05 billion or 2.74% of the total outstanding shares. The later fund manager was in possession of 176.81 shares on Sep 30, 2024 , making its stake of worth around $8.47 billion in the company or a holder of 2.30% of company’s stock.
