Bank Of America Corp. (NYSE: BAC) has a price-to-earnings ratio of 13.55x that is above its average ratio. Additionally, the 36-month beta value for BAC is 1.36. There are mixed opinions on the stock, with 16 analysts rating it as a “buy,” 6 rating it as “overweight,” 7 rating it as “hold,” and 0 rating it as “sell.”
The public float for BAC is 7.81B and currently, short sellers hold a 0.93% ratio of that float. The average trading volume of BAC on June 17, 2024 was 37.59M shares.
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BAC) stock’s latest price update
Bank Of America Corp. (NYSE: BAC) has seen a decline in its stock price by -0.05 in relation to its previous close of 39.26. However, the company has experienced a -1.36% decline in its stock price over the last five trading sessions. fool.com reported 2024-06-16 that Despite intense competition, BofA is able to hold its own in the industry. But thanks to its enormous size, the bank isn’t likely to post strong growth.
BAC’s Market Performance
Bank Of America Corp. (BAC) has seen a -1.36% fall in stock performance for the week, with a 0.85% gain in the past month and a 10.82% surge in the past quarter. The volatility ratio for the week is 1.69%, and the volatility levels for the past 30 days are at 1.86% for BAC. The simple moving average for the last 20 days is -0.47% for BAC stock, with a simple moving average of 18.92% for the last 200 days.
Analysts’ Opinion of BAC
Many brokerage firms have already submitted their reports for BAC stocks, with Keefe Bruyette repeating the rating for BAC by listing it as a “Outperform.” The predicted price for BAC in the upcoming period, according to Keefe Bruyette is $46 based on the research report published on June 14, 2024 of the current year 2024.
Wolfe Research, on the other hand, stated in their research note that they expect to see BAC reach a price target of $42. The rating they have provided for BAC stocks is “Outperform” according to the report published on April 19th, 2024.
UBS gave a rating of “Neutral” to BAC, setting the target price at $40 in the report published on April 04th of the current year.
BAC Trading at 2.91% 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 -2.36% of loss for the given period.
Volatility was left at 1.86%, however, over the last 30 days, the volatility rate increased by 1.69%, as shares surge +0.05% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.28% upper at present.
During the last 5 trading sessions, BAC fell by -1.36%, which changed the moving average for the period of 200-days by +34.52% in comparison to the 20-day moving average, which settled at $39.42. In addition, Bank Of America Corp. saw 16.54% 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 sale 1,600 shares at the price of $10.89 back on Jun 06 ’24. After this action, BANK OF AMERICA CORP /DE/ now owns 0 shares of Bank Of America Corp., valued at $17,424 using the latest closing price.
BANK OF AMERICA CORP /DE/, the 10% Owner of Bank Of America Corp., purchase 5,398 shares at $10.56 during a trade that took place back on Dec 27 ’23, which means that BANK OF AMERICA CORP /DE/ is holding 5,398 shares at $57,023 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
- 0.78 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 0.06. The debt to equity ratio resting at 2.27. The interest coverage ratio of the stock is 0.33.
Currently, EBITDA for the company is 30.37 billion with net debt to EBITDA at 16.97. When we switch over and look at the enterprise to sales, we see a ratio of 5.56. The receivables turnover for the company is 1.16for trailing twelve months and the total asset turnover is 0.04. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.00.
Conclusion
In conclusion, Bank Of America Corp. (BAC) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it 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.
