Bank Of America Corp (NYSE:BAC) has a beta value of 1.34 and has seen 5.41 million shares traded in the recent trading session. The company, currently valued at $347.16B, closed the recent trade at $45.24 per share which meant it gained $0.19 on the day or 0.43% during that session. The BAC stock price is -6.28% off its 52-week high price of $48.08 and 30.88% above the 52-week low of $31.27. If we look at the company’s 10-day average daily trading volume, we find that it stood at 30.99 million shares traded. The 3-month trading volume is 35.16 million shares.
The consensus among analysts is that Bank Of America Corp (BAC) is Buy stock at the moment, with a recommendation rating of 1.78. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 6 out of 20 have rated it as a Hold, with 14 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.79.
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Bank Of America Corp (NYSE:BAC) trade information
Sporting 0.43% in the green today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the BAC stock price touched $45.24 or saw a rise of 2.65%. Year-to-date, Bank Of America Corp shares have moved 34.38%, while the 5-day performance has seen it change -1.81%. Over the past 30 days, the shares of Bank Of America Corp (NYSE:BAC) have changed -3.16%. Short interest in the company has seen 74.69 million shares shorted with days to cover at 1.99.
Wall Street analysts have a consensus price target for the stock at $45.5, which means that the shares’ value could jump 0.57% from the levels at last check today. The projected low price target is $39.0 while the price target rests at a high of $144.0. In that case, then, we find that the latest price level in today’s session is -218.3% off the targeted high while a plunge would see the stock lose 13.79% from the levels at last check today.
Bank Of America Corp (BAC) estimates and forecasts
Figures show that Bank Of America Corp shares have underperformed across the wider relevant industry. The company’s shares have gained 13.14% over the past 6 months, with this year growth rate of -4.39%, compared to 17.80% for the industry. Revenue growth from the last financial year stood is estimated to be 3.42%.
10 analysts offering their estimates for the company have set an average revenue estimate of 25.14B for the current quarter. 9 have an estimated revenue figure of 26.5B for the next ending quarter. Year-ago sales stood 21.96B and 25.82B respectively for this quarter and the next, and analysts expect sales will grow by 14.50% for the current quarter and 3.42% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 3.37% over the past 5 years. Earnings growth for 2024 is a modest 4.20% while over the next 5 years, the company’s earnings are expected to increase by 8.04%.
BAC Dividends
Bank Of America Corp is expected to release its next earnings report in January this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.00 at a share yield of 2.21%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 2.45%.
Bank Of America Corp (NYSE:BAC)’s Major holders
Insiders own 10.08% of the company shares, while shares held by institutions stand at 63.34% with a share float percentage of 70.43%. Investors are also buoyed by the number of investors in a company, with Bank Of America Corp having a total of 3687.0 institutions that hold shares in the company. The top two institutional holders are BERKSHIRE HATHAWAY INC with over 1.03 billion shares worth more than $41.08 billion. As of 2024-06-30, BERKSHIRE HATHAWAY INC held 12.9622% of shares outstanding.
The other major institutional holder is VANGUARD GROUP INC, with the holding of over 641.63 million shares as of 2024-06-30. The firm’s total holdings are worth over $25.52 billion and represent 8.0524% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. As of Sep 30, 2024, the former fund manager holds about 2.88% shares in the company for having 221.36 shares of worth $10.03 billion while later fund manager owns 176.81 shares of worth $8.01 billion as of Sep 30, 2024, which makes it owner of about 2.30% of company’s outstanding stock.
