Bank Of America Corp. (NYSE: BAC)’s stock price has decreased by -1.54 compared to its previous closing price of 36.35. However, the company has seen a -3.56% decrease in its stock price over the last five trading sessions. The Dog of Wall Street reported 2024-04-13 that This article is merely meant to talk about two companies that I’ll have my eyes on for earnings.
Is It Worth Investing in Bank Of America Corp. (NYSE: BAC) Right Now?
Bank Of America Corp. (NYSE: BAC) has a price-to-earnings ratio that is above its average at 11.64x. The stock has a 36-month beta value of 1.39. Opinions on the stock are mixed, with 16 analysts rating it as a “buy,” 6 as “overweight,” 7 as “hold,” and 0 as “sell.”
The public float for BAC is 7.86B, and at present, short sellers hold a 0.92% of that float. On April 15, 2024, the average trading volume of BAC was 40.11M shares.
BAC’s Market Performance
The stock of Bank Of America Corp. (BAC) has seen a -3.56% decrease in the past week, with a -0.80% drop in the past month, and a 7.96% gain in the past quarter. The volatility ratio for the week is 1.62%, and the volatility levels for the past 30 days are at 1.83% for BAC. The simple moving average for the past 20 days is -3.09% for BAC’s stock, with a 14.71% simple moving average for the past 200 days.
Analysts’ Opinion of BAC
Many brokerage firms have already submitted their reports for BAC stocks, with UBS repeating the rating for BAC by listing it as a “Neutral.” The predicted price for BAC in the upcoming period, according to UBS is $40 based on the research report published on April 04, 2024 of the current year 2024.
HSBC Securities, on the other hand, stated in their research note that they expect to see BAC reach a price target of $39, previously predicting the price at $38. The rating they have provided for BAC stocks is “Hold” according to the report published on March 28th, 2024.
Morgan Stanley gave a rating of “Overweight” to BAC, setting the target price at $41 in the report published on January 30th of the current year.
BAC Trading at 1.44% 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 -6.68% of loss for the given period.
Volatility was left at 1.83%, however, over the last 30 days, the volatility rate increased by 1.62%, as shares surge +0.28% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.23% upper at present.
During the last 5 trading sessions, BAC fell by -3.56%, which changed the moving average for the period of 200-days by +26.74% in comparison to the 20-day moving average, which settled at $36.94. In addition, Bank Of America Corp. saw 6.30% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BAC starting from BANK OF AMERICA CORP /DE/, who purchase 5,398 shares at the price of $10.56 back on Dec 27 ’23. After this action, BANK OF AMERICA CORP /DE/ now owns 5,398 shares of Bank Of America Corp., valued at $57,023 using the latest closing price.
BANK OF AMERICA CORP /DE/, the 10% Owner of Bank Of America Corp., sale 900 shares at $9.72 during a trade that took place back on Dec 15 ’23, which means that BANK OF AMERICA CORP /DE/ is holding 0 shares at $8,748 based on the most recent closing price.
Stock Fundamentals for BAC
Current profitability levels for the company are sitting at:
- 0.3 for the present operating margin
- 0.74 for the gross margin
The net margin for Bank Of America Corp. stands at 0.28. The total capital return value is set at 0.01. Equity return is now at value 9.39, with 0.85 for asset returns.
Based on Bank Of America Corp. (BAC), the company’s capital structure generated 0.53 points at debt to capital in total, while cash flow to debt ratio is standing at 0.13. The debt to equity ratio resting at 1.15. The interest coverage ratio of the stock is 0.39.
Currently, EBITDA for the company is 30.37 billion with net debt to EBITDA at -0.23. When we switch over and look at the enterprise to sales, we see a ratio of 2.92. The receivables turnover for the company is 0.97for trailing twelve months and the total asset turnover is 0.03. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.99.
Conclusion
To sum up, Bank Of America Corp. (BAC) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
