Bank Of America Corp. (NYSE: BAC) has a higher price-to-earnings ratio of 13.08x compared to its average ratio, The 36-month beta value for BAC is at 1.37. Analysts have varying views on the stock, with 16 analysts rating it as a “buy,” 6 rating it as “overweight,” 7 as “hold,” and 0 as “sell.”
The public float for BAC is 7.86B, and currently, shorts hold a 0.82% of that float. The average trading volume for BAC on April 29, 2024 was 40.80M shares.
BAC) stock’s latest price update
The stock of Bank Of America Corp. (NYSE: BAC) has decreased by -0.21 when compared to last closing price of 37.91. Despite this, the company has experienced a 2.33% gain in its stock price over the last five trading sessions. The Motley Fool reported 2024-04-28 that Bank of America has outpaced the S&P 500 index over the past several months. The bank sits on unrealized losses of $113 billion due to higher interest rates.
BAC’s Market Performance
BAC’s stock has risen by 2.33% in the past week, with a monthly rise of 0.05% and a quarterly rise of 13.16%. The volatility ratio for the week is 1.90% while the volatility levels for the last 30 days are 2.20% for Bank Of America Corp. The simple moving average for the last 20 days is 2.36% for BAC stock, with a simple moving average of 19.70% for the last 200 days.
Analysts’ Opinion of BAC
Many brokerage firms have already submitted their reports for BAC stocks, with Wolfe Research repeating the rating for BAC by listing it as a “Outperform.” The predicted price for BAC in the upcoming period, according to Wolfe Research is $42 based on the research report published on April 19, 2024 of the current year 2024.
UBS, on the other hand, stated in their research note that they expect to see BAC reach a price target of $40, previously predicting the price at $39. The rating they have provided for BAC stocks is “Neutral” according to the report published on April 04th, 2024.
HSBC Securities gave a rating of “Hold” to BAC, setting the target price at $39 in the report published on March 28th of the current year.
BAC Trading at 5.20% 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 -1.73% of loss for the given period.
Volatility was left at 2.20%, however, over the last 30 days, the volatility rate increased by 1.90%, as shares sank -0.24% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.19% upper at present.
During the last 5 trading sessions, BAC rose by +2.33%, which changed the moving average for the period of 200-days by +28.85% in comparison to the 20-day moving average, which settled at $36.95. In addition, Bank Of America Corp. saw 12.36% 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:
- 0.23 for the present operating margin
- 0.9 for the gross margin
The net margin for Bank Of America Corp. stands at 0.21. The total capital return value is set at 0.01. Equity return is now at value 8.72, with 0.77 for asset returns.
Based on Bank Of America Corp. (BAC), the company’s capital structure generated 0.69 points at debt to capital in total, while cash flow to debt ratio is standing at 0.08. The debt to equity ratio resting at 2.27. The interest coverage ratio of the stock is 0.37.
Currently, EBITDA for the company is 30.37 billion with net debt to EBITDA at 17.36. When we switch over and look at the enterprise to sales, we see a ratio of 5.55. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.02.
Conclusion
In conclusion, Bank Of America Corp. (BAC) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others 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.
