The stock of Bank Of America Corp (NYSE: BAC) has decreased by -0.89 when compared to last closing price of 46.08. Despite this, the company has experienced a -2.31% fall in its stock price over the last five trading sessions. youtube.com reported 2024-12-13 that CNBC’s Leslie Picker reports on news regarding the incoming administration.
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 16.60x, which is above its average ratio. Moreover, the 36-month beta value for BAC is 1.34. Analysts have varying opinions on the stock, with 8 analysts rating it as a “buy,” 8 as “overweight,” 6 as “hold,” and 0 as “sell.”
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The public float for BAC is 7.66B and currently, short sellers hold a 0.98% of that float. On December 16, 2024, BAC’s average trading volume was 35.04M shares.
BAC’s Market Performance
BAC’s stock has seen a -2.31% decrease for the week, with a -0.44% drop in the past month and a 16.80% gain in the past quarter. The volatility ratio for the week is 1.54%, and the volatility levels for the past 30 days are at 1.52% for Bank Of America Corp The simple moving average for the past 20 days is -2.14% for BAC’s stock, with a 13.72% simple moving average for the past 200 days.
Analysts’ Opinion of BAC
Many brokerage firms have already submitted their reports for BAC stocks, with Morgan Stanley repeating the rating for BAC by listing it as a “Equal-Weight.” The predicted price for BAC in the upcoming period, according to Morgan Stanley is $55 based on the research report published on December 09, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see BAC reach a price target of $54, previously predicting the price at $46. The rating they have provided for BAC stocks is “Buy” according to the report published on November 08th, 2024.
Deutsche Bank gave a rating of “Buy” to BAC, setting the target price at $45 in the report published on September 03rd of the current year.
BAC Trading at 3.26% 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 -5.01% of loss for the given period.
Volatility was left at 1.52%, however, over the last 30 days, the volatility rate increased by 1.54%, as shares sank -0.50% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +16.36% upper at present.
During the last 5 trading sessions, BAC fell by -2.31%, which changed the moving average for the period of 200-days by +32.30% in comparison to the 20-day moving average, which settled at $46.67. In addition, Bank Of America Corp saw 35.64% 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 6 shares at the price of $6.77 back on Mar 22 ’24. After this action, BANK OF AMERICA CORP /DE/ now owns 0 shares of Bank Of America Corp, valued at $41 using the latest closing price.
BANK OF AMERICA CORP /DE/, the 10% Owner of Bank Of America Corp, sale 34 shares at $6.73 during a trade that took place back on Apr 09 ’24, which means that BANK OF AMERICA CORP /DE/ is holding 0 shares at $229 based on the most recent closing price.
Stock Fundamentals for BAC
Current profitability levels for the company are sitting at:
- 0.39 for the present operating margin
- 0.12 for the gross margin
The net margin for Bank Of America Corp stands at 0.25. 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 0.4.
Currently, EBITDA for the company is 30.4 billion with net debt to EBITDA at 10.74. When we switch over and look at the enterprise to sales, we see a ratio of 4.13. 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 mixed in recent times. The stock has received a bullish 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.
