The price-to-earnings ratio for Bank Of America Corp (NYSE: BAC) is 17.10x, which is above its average ratio. Moreover, the 36-month beta value for BAC is 1.33. Analysts have varying opinions on the stock, with 16 analysts rating it as a “buy,” 8 as “overweight,” 7 as “hold,” and 0 as “sell.”
The public float for BAC is 7.66B and currently, short sellers hold a 0.83% of that float. On November 22, 2024, BAC’s average trading volume was 37.22M shares.
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BAC) stock’s latest price update
Bank Of America Corp (NYSE: BAC)’s stock price has soared by 1.27 in relation to previous closing price of 46.46. Nevertheless, the company has seen a gain of 0.64% in its stock price over the last five trading days. fool.com reported 2024-11-22 that The Oracle of Omaha has concentrated Berkshire’s investment portfolio in his best ideas.
BAC’s Market Performance
BAC’s stock has risen by 0.64% in the past week, with a monthly rise of 10.32% and a quarterly rise of 17.86%. The volatility ratio for the week is 1.69% while the volatility levels for the last 30 days are 1.80% for Bank Of America Corp. The simple moving average for the past 20 days is 5.41% for BAC’s stock, with a 19.86% simple moving average for the past 200 days.
Analysts’ Opinion of BAC
Many brokerage firms have already submitted their reports for BAC stocks, with Citigroup repeating the rating for BAC by listing it as a “Buy.” The predicted price for BAC in the upcoming period, according to Citigroup is $54 based on the research report published on November 08, 2024 of the current year 2024.
Deutsche Bank, on the other hand, stated in their research note that they expect to see BAC reach a price target of $45. The rating they have provided for BAC stocks is “Buy” according to the report published on September 03rd, 2024.
Piper Sandler gave a rating of “Neutral” to BAC, setting the target price at $42 in the report published on July 09th of the current year.
BAC Trading at 11.40% 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 0.00% of loss for the given period.
Volatility was left at 1.80%, however, over the last 30 days, the volatility rate increased by 1.69%, as shares surge +12.10% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +21.50% upper at present.
During the last 5 trading sessions, BAC rose by +0.45%, which changed the moving average for the period of 200-days by +41.79% in comparison to the 20-day moving average, which settled at $44.63. In addition, Bank Of America Corp saw 39.74% 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 800 shares at the price of $9.46 back on Nov 18 ’24. After this action, BANK OF AMERICA CORP /DE/ now owns 800 shares of Bank Of America Corp, valued at $7,565 using the latest closing price.
BANK OF AMERICA CORP /DE/, the 10% Owner of Bank Of America Corp, sale 800 shares at $9.36 during a trade that took place back on Nov 18 ’24, which means that BANK OF AMERICA CORP /DE/ is holding 0 shares at $7,484 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
- -0.02 for the gross margin
The net margin for Bank Of America Corp stands at 0.29. The total capital return value is set at 0.01. Equity return is now at value 8.09, with 0.73 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 -0.01. The debt to equity ratio resting at 1.13. The interest coverage ratio of the stock is 0.28.
Currently, EBITDA for the company is 30.4 billion with net debt to EBITDA at 246.84. When we switch over and look at the enterprise to sales, we see a ratio of 8.17. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.02.
Conclusion
To wrap up, the performance of Bank Of America Corp (BAC) has been better in recent times. The stock has received a mixed of “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.
