Bank Of America Corp. (NYSE: BAC) has seen a rise in its stock price by 0.42 in relation to its previous close of 41.68. However, the company has experienced a -2.44% decline in its stock price over the last five trading sessions. investorplace.com reported 2024-07-25 that Warren Buffett and Berkshire Hathaway (NYSE: BRK-A, NYSE: BRK-B ) have now sold Bank of America (NYSE: BAC ) for six consecutive trading days. The conglomerate’s last Form 4 revealed that it had sold 18.89 million shares between July 22 and July 24.
Is It Worth Investing in Bank Of America Corp. (NYSE: BAC) Right Now?
The price-to-earnings ratio for Bank Of America Corp. (NYSE: BAC) is above average at 14.70x, Company’s 36-month beta value is 1.35.Analysts have differing opinions on the stock, with 16 analysts rating it as a “buy,” 6 as “overweight,” 7 as “hold,” and 0 as “sell.”
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The public float for BAC is 7.81B, and currently, short sellers hold a 0.92% ratio of that floaft. The average trading volume of BAC on July 26, 2024 was 35.28M shares.
BAC’s Market Performance
BAC’s stock has seen a -2.44% decrease for the week, with a 7.32% rise in the past month and a 10.41% gain in the past quarter. The volatility ratio for the week is 1.77%, and the volatility levels for the past 30 days are at 2.06% for Bank Of America Corp. The simple moving average for the past 20 days is 0.50% for BAC’s stock, with a 20.17% simple moving average for the past 200 days.
Analysts’ Opinion of BAC
Many brokerage firms have already submitted their reports for BAC stocks, with Piper Sandler repeating the rating for BAC by listing it as a “Neutral.” The predicted price for BAC in the upcoming period, according to Piper Sandler is $42 based on the research report published on July 09, 2024 of the current year 2024.
Seaport Research Partners, on the other hand, stated in their research note that they expect to see BAC reach a price target of $48. The rating they have provided for BAC stocks is “Buy” according to the report published on July 02nd, 2024.
Keefe Bruyette gave a rating of “Outperform” to BAC, setting the target price at $46 in the report published on June 14th of the current year.
BAC Trading at 3.84% 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 -5.82% of loss for the given period.
Volatility was left at 2.06%, however, over the last 30 days, the volatility rate increased by 1.77%, as shares surge +6.13% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.22% upper at present.
During the last 5 trading sessions, BAC fell by -2.90%, which changed the moving average for the period of 200-days by +58.32% in comparison to the 20-day moving average, which settled at $41.77. In addition, Bank Of America Corp. saw 24.31% 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 BERKSHIRE HATHAWAY INC, who sale 5,420,599 shares at the price of $42.39 back on Jul 24 ’24. After this action, BERKSHIRE HATHAWAY INC now owns 980,061,561 shares of Bank Of America Corp., valued at $229,773,229 using the latest closing price.
BERKSHIRE HATHAWAY INC, the 10% Owner of Bank Of America Corp., sale 7,129,898 shares at $42.56 during a trade that took place back on Jul 23 ’24, which means that BERKSHIRE HATHAWAY INC is holding 985,482,160 shares at $303,479,117 based on the most recent closing price.
Stock Fundamentals for BAC
Current profitability levels for the company are sitting at:
- 0.52 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 0.03. Equity return is now at value 8.49, with 0.77 for asset returns.
Based on Bank Of America Corp. (BAC), the company’s capital structure generated 0.7 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 2.38. The interest coverage ratio of the stock is 0.82.
Currently, EBITDA for the company is 30.37 billion with net debt to EBITDA at 36.17. When we switch over and look at the enterprise to sales, we see a ratio of 8.82. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.03.
Conclusion
In a nutshell, Bank Of America Corp. (BAC) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
