The Bank of America Corporation (NYSE:BAC) is going down by -4.34% in today’s trading session, a fall equivalent to -1.2% of the stock’s price from yesterday’s market close. A news came out 5 hours ago stating that Interest Rates Are Falling on the Most Generous Savings Accounts by BARRONS. The lowest point that the shares touched during the trading session was $27.38, while the peak of the day was recorded at a share price of $28.25. BAC finished the previous session at $27.72 according to the data provided by Barchart, while the trading volume was observed to be $50,281,875.
In the 100 days of trading, BAC managed to top a 28.88% Moving average. Additionally, Bank of America Corporation shares have achieved a 52-week range between 22.66 and 31.49 alongside 100 days raw stochastic set at 1.68%.
The number of shares outstanding, according to the fundamentals of the company, is set at 9.32B, equal to the value of $258.48B in market capitalization. Financial analysts indicate that BAC shares should be still ranked as a “Outperform”. In the last 30 days, Bank of America Corporation shares went down by -14.76%, adding 31.07 to growth in value, on top of a +0.15% boost since 07/12/19.
Bank of America Corporation (NYSE:BAC) Analyst’s Estimates
Bank of America Corporation (BAC) could record at least $0.69 per share in quarterly earnings in the upcoming report on 10/16/2019, a number that would actually represent an increase of 7.49% YOY.
According to the average analyst rating, Bank of America Corporation would be rated as 2.10. Out of 30 different analysts monitoring BAC stock, 8 analysts rate the stock as a BUY, 11 suggest to give the rating of HOLD, 11 indicate that BAC is an OUTPERFORM, 0 rated the stock as a SELL, and 0 analyst believes that the stock should be rated as UNDERPERFORM.
On Jul-26-19, the stock earned a Upgrade rating due to a new analyst call from Keefe Bruyette, while analysts from BMO Capital Markets believe that the stock is set at Outperform from Market Perform, as concluded on Jun-18-19. Atlantic Equities, is still rather wary about the stock, deciding to keep the rating at Neutral as confirmed through a call on Apr-30-19.
Regardless of the rating, Jefferies did increase their price to $32 as they are considering target share price analysis. HSBC Securities, on the other hand, provided a rather enthusiastic opinion on the rating, concluded in an analyst call on Apr-04-19, giving the stock a Hold rating.
BAC Key Ratios To Watch:
Taking in account the profitability of the Company, the operating margin has been recorded at +31.66. The firm is also showcasing profitability through returns on assets in the company’s ownership, with ROA set at 1.21%. Beta value of the stock is recorded at 1.56. Additionally, Bank of America Corporation is recording price volatility of 2.21% for the period of the last seven days and 2.16% in the last 30 days.
Bank of America Corporation (NYSE:BAC) Technical Outlook
For the period of the last 50 days, Bank of America Corporation had its Raw Stochastic average set at 0.86% for the latest technical analysis. In comparison to the period of the last 20 days, the present Raw Stochastic average for the last 50 days poses as improvement, set at 0.86%. Stochastic %K for Bank of America Corporation, with the last 20 days included, was set at 9.75%, having Stochastic %D topping 18.23%. Based on the previous performance of the company for the mentioned period, there are more than several recorded moving trends. When it comes to the period of the last 12 months, accounting the time for year-to-date, price performance appears to be discouraging for Bank of America Corporation stocks with recording -11.13% in metrics.
Bank of America Corporation Insider Watch:
As far as the position of shares issued by Bank of America Corporation (NYSE:BAC) for the period concluded at the market close of 08/13/19, 971 institutional investors increased their positions in BAC shares by 194,911,667, 992 decreased positions by 328,330,366 and 243 institutional investors decided to hold positions at 5,974,481,787. These numbers put the complete list of institutional holdings set at 6,497,723,820 shares, in accordance with filings submitted to the Securities and Exchange Commission. The stock had another 131 institutional investments with 24,852,197 new shares in addition to having 108 institutional investors selling their positions in 38,349,149 shares.