In the latest trading session, 4.65 million Bank Of America Corp (NYSE:BAC) shares changed hands as the company’s beta touched 1.34. With the company’s most recent per share price at $44.44 changing hands around $0.5 or 1.13% at last look, the market valuation stands at $338.19B. BAC’s current price is a discount, trading about -8.19% off its 52-week high of $48.08. The share price had its 52-week low at $33.53, which suggests the last value was 24.55% up since then.
Analysts gave the Bank Of America Corp (BAC) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.52. If we narrow down to specifics, the data shows that 0 out of 20 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended BAC as a Hold, 14 felt it is a Buy and 0 rated the stock as Underweight. Bank Of America Corp’s EPS for the current quarter is expected to be 0.82.
Bank Of America Corp (NYSE:BAC) trade information
Instantly BAC is in green as seen in intraday trades today. With action -3.42%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 1.10%, with the 5-day performance at -3.42% in the red. However, in the 30-day time frame, Bank Of America Corp (NYSE:BAC) is -5.64% down.
The consensus price target for the stock as assigned by Wall Street analysts is 46.5, meaning bulls need an upside of 4.43% from its recent market value. According to analyst projections, BAC’s forecast low is 44 with 54 as the target high. To hit the forecast high, the stock’s price needs a -21.51% plunge from its current level, while the stock would need to tank 0.99% for it to hit the projected low.
Bank Of America Corp (BAC) estimates and forecasts
Year-over-year growth is forecast to reach 6.69% up from the last financial year.
Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of 26.91B. 11 analysts are of the opinion that Bank Of America Corp’s revenue for the current quarter will be 26.99B. The company’s revenue for the corresponding quarters a year ago was 25.82B and 25.38B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 4.21%. The estimates for the next quarter sales put growth at 6.35%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 3.12%. The 2025 estimates are for Bank Of America Corp earnings to increase by 15.59%, but the outlook for the next 5-year period is at 14.91% per year.
BAC Dividends
Bank Of America Corp is expected to release its next quarterly earnings report in March. The 2.25% annual yield figure for the share gives it an annual dividend of 1.00. It is important to note, however, that the 2.25% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Bank Of America Corp (NYSE:BAC)’s Major holders
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 8.0524% or 641.63 million shares worth $25.52 billion as of 2024-06-30.
Among Mutual Funds, the top two as of Sep 30, 2024 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 221.36 shares estimated at $9.85 billion under it, the former controlled 2.88% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.30% of the shares, roughly 176.81 shares worth around $7.86 billion.
