The Bank of America Corporation (NYSE:BAC) is going down by -0.36% in today’s trading session, a fall equivalent to -0.12% of the stock’s price from yesterday’s market close. The lowest point that the shares touched during the trading session was $32.75, while the peak of the day was recorded at a share price of $33.03. BAC finished the previous session at $32.96 according to the data provided by Barchart, while the trading volume was observed to be $9696783.
In the 100 days of trading, BAC managed to top a 29.54% Moving average. Additionally, Bank of America Corporation shares have achieved a 52-week range between 22.66 and 33.60 alongside 100 days raw stochastic set at 90.12%.
The number of shares outstanding, according to the fundamentals of the company, is set at 9.30B, equal to the value of $306.65B in market capitalization. In the last 30 days, Bank of America Corporation shares went down by -2.17%, adding 33.60 to growth in value, on top of a +7.31% boost since 10/18/19.
Bank of America Corporation (NYSE:BAC) Analyst’s Estimates
Bank of America Corporation (BAC) could record at least $0.70 per share in quarterly earnings in the upcoming report, a number that would actually represent an increase of 2.98 YOY.
According to the average analyst rating, Bank of America Corporation would be rated as Overweight. Out of 25 different analysts monitoring BAC stock, 13 analysts rate the stock as a BUY, 10 suggest to give the rating of HOLD, 1 indicate that BAC is an OVERWEIGHT, 1 rated the stock as a SELL, and 0 analyst believes that the stock should be rated as UNDERWEIGHT.
On October 29, 2019, the stock earned a Downgrade rating due to a new analyst call from Societe Generale, while analysts from Odeon believe that the stock is set at Buy from Hold, as concluded on October 28, 2019. Atlantic Equities, is still rather wary about the stock, deciding to keep the rating at Overweight as confirmed through a call on October 22, 2019.
Regardless of the rating, Keefe Bruyette did decrease their price from $36 to $29 as they are considering target share price analysis. Raymond James, on the other hand, provided a rather enthusiastic opinion on the rating, concluded in an analyst call on August 29, 2019, giving the stock a Mkt Perform from the Outperform 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 1.63. Additionally, Bank of America Corporation is recording price volatility of 1.01% for the period of the last seven days and 1.36% 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 88.66% 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 73.74%. Stochastic %K for Bank of America Corporation, with the last 20 days included, was set at 76.24%, having Stochastic %D topping 76.36%. 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 encouraging for Bank of America Corporation stocks with recording 33.77% in metrics.
Bank of America Corporation Insider Watch:
Similarly, 70.51% of the company’s float is held by institutions – and there are 2,609 institutions in total holding shares of this company. The top three institutional holders of BAC stocks are: Berkshire Hathaway, Inc with ownership of $27.05 billion, which is approximately 927248600 of the company’s shares; Vanguard Group, Inc. (The), holding 635865487 shares of the stock with an approximate value of $18.55 billion; and Blackrock Inc., currently with more than 548234669 shares of the company valued at $15.99 billion. Positions in Bank of America Corporation stocks held by institutional investors has been changing actively in the past six months, a period during which there were 6 insider purchases amounting to 159190 shares. Similarly, there were 2 sale transactions amounting to 46500 shares, with the net shares purchased during the last six months reaching 112,690.