Bank Of America Corp. (NYSE: BAC) has a price-to-earnings ratio of 14.72x that is above its average ratio. Additionally, the 36-month beta value for BAC is 1.33. 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 7.75B and currently, short sellers hold a 0.87% ratio of that float. The average trading volume of BAC on October 11, 2024 was 39.75M shares.
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BAC) stock’s latest price update
Bank Of America Corp. (NYSE: BAC)’s stock price has soared by 4.74 in relation to previous closing price of 39.97. Nevertheless, the company has seen a gain of 4.38% in its stock price over the last five trading days. investopedia.com reported 2024-10-11 that Warren Buffett’s Berkshire Hathaway (BRK.A) won’t have to report its transactions in Bank of America (BAC) stock promptly anymore.
BAC’s Market Performance
Bank Of America Corp. (BAC) has experienced a 4.38% rise in stock performance for the past week, with a 7.96% rise in the past month, and a -0.06% drop in the past quarter. The volatility ratio for the week is 1.37%, and the volatility levels for the past 30 days are at 1.56% for BAC. The simple moving average for the past 20 days is 5.15% for BAC’s stock, with a 11.13% simple moving average for the past 200 days.
Analysts’ Opinion of BAC
Many brokerage firms have already submitted their reports for BAC stocks, with Deutsche Bank repeating the rating for BAC by listing it as a “Buy.” The predicted price for BAC in the upcoming period, according to Deutsche Bank is $45 based on the research report published on September 03, 2024 of the current year 2024.
Piper Sandler, on the other hand, stated in their research note that they expect to see BAC reach a price target of $42, previously predicting the price at $37. The rating they have provided for BAC stocks is “Neutral” according to the report published on July 09th, 2024.
Seaport Research Partners gave a rating of “Buy” to BAC, setting the target price at $48 in the report published on July 02nd of the current year.
BAC Trading at 6.42% 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 -5.79% of loss for the given period.
Volatility was left at 1.56%, however, over the last 30 days, the volatility rate increased by 1.37%, as shares surge +8.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.22% upper at present.
During the last 5 trading sessions, BAC rose by +4.60%, which changed the moving average for the period of 200-days by +23.91% in comparison to the 20-day moving average, which settled at $39.82. In addition, Bank Of America Corp. saw 24.34% 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 4,002,225 shares at the price of $40.14 back on Oct 09 ’24. After this action, BERKSHIRE HATHAWAY INC now owns 776,614,511 shares of Bank Of America Corp., valued at $160,662,919 using the latest closing price.
BERKSHIRE HATHAWAY INC, the 10% Owner of Bank Of America Corp., sale 3,933,197 shares at $39.99 during a trade that took place back on Oct 08 ’24, which means that BERKSHIRE HATHAWAY INC is holding 780,616,736 shares at $157,292,875 based on the most recent closing price.
Stock Fundamentals for BAC
Current profitability levels for the company are sitting at:
- 0.22 for the present operating margin
- 0.68 for the gross margin
The net margin for Bank Of America Corp. stands at 0.2. The total capital return value is set at 0.01. 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 0.07. The debt to equity ratio resting at 2.38. The interest coverage ratio of the stock is 0.3.
Currently, EBITDA for the company is 30.37 billion with net debt to EBITDA at 19.23. When we switch over and look at the enterprise to sales, we see a ratio of 5.86. The receivables turnover for the company is 1.26for 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 1.02.
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.
