Bank of America Corporation (NYSE: BAC)’s stock price has decreased by -1.88 compared to its previous closing price of 28.76. However, the company has seen a -13.33% decrease in its stock price over the last five trading sessions. Barrons Online reported on 03/13/23 that Stock Market News
Is It Worth Investing in Bank of America Corporation (NYSE: BAC) Right Now?
Bank of America Corporation (NYSE: BAC) has a price-to-earnings ratio of 9.03x that is above its average ratio. Additionally, the 36-month beta value for BAC is 1.42. There are mixed opinions on the stock, with 11 analysts rating it as a “buy,” 3 rating it as “overweight,” 12 rating it as “hold,” and 2 rating it as “sell.”
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The average price predicted by analysts for BAC is $40.40, which is $12.21 above the current price. The public float for BAC is 7.99B and currently, short sellers hold a 0.68% ratio of that float. The average trading volume of BAC on March 15, 2023 was 44.86M shares.
BAC’s Market Performance
BAC stock saw a decrease of -13.33% in the past week, with a monthly decline of -20.84% and a quarterly a decrease of -13.78%. The volatility ratio for the week is 5.63%, and the volatility levels for the last 30 days are 2.63% for Bank of America Corporation (BAC). The simple moving average for the last 20 days is -15.40% for BAC stock, with a simple moving average of -17.05% for the last 200 days.
Analysts’ Opinion of BAC
Many brokerage firms have already submitted their reports for BAC stocks, with Odeon repeating the rating for BAC by listing it as a “Hold.” The predicted price for BAC in the upcoming period, according to Odeon is $35.20 based on the research report published on March 08th of the current year 2023.
Keefe Bruyette, on the other hand, stated in their research note that they expect to see BAC reach a price target of $33, previously predicting the price at $35. The rating they have provided for BAC stocks is “Underperform” according to the report published on February 09th, 2023.
Atlantic Equities gave a rating of “Neutral” to BAC, setting the target price at $40 in the report published on January 31st of the current year.
BAC Trading at -17.69% from the 50-Day Moving Average
After a stumble in the market that brought BAC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -36.77% of loss for the given period.
Volatility was left at 2.63%, however, over the last 30 days, the volatility rate increased by 5.63%, as shares sank -21.28% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -15.34% lower at present.
During the last 5 trading sessions, BAC fell by -13.88%, which changed the moving average for the period of 200-days by -23.53% in comparison to the 20-day moving average, which settled at $32.98. In addition, Bank of America Corporation saw -14.79% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BAC starting from Koder Matthew M, who sale 105,054 shares at the price of $34.27 back on Feb 23. After this action, Koder Matthew M now owns 319,803 shares of Bank of America Corporation, valued at $3,600,411 using the latest closing price.
Koder Matthew M, the Pres, Gl Corp & Invest Banking of Bank of America Corporation, sale 214,745 shares at $35.91 during a trade that took place back on Feb 02, which means that Koder Matthew M is holding 214,747 shares at $7,712,137 based on the most recent closing price.
Stock Fundamentals for BAC
Current profitability levels for the company are sitting at:
- +27.84 for the present operating margin
The net margin for Bank of America Corporation stands at +23.82. Equity return is now at value 10.80, with 0.80 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 0.77.
Conclusion
In conclusion, Bank of America Corporation (BAC) has seen bad performance in recent times. Analysts have a bearish opinion on the stock, with some rating it as a “sell” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
