Bank Of America Corp (BAC) saw an uptrend of 0.38% in the recent trading with $44.55 being its most recent. The current price level -7.34% lower than the highest price of $48.08 marked by the stock while trading over the past 52-weeks, whereas it is 42.47% higher than the lowest price of $31.27 the company dropped to over past 52-weeks. The latest news story on BAC appeared in (PR Newswire) under the title “Bank of America Announces Full Redemption of Its Series MM Preferred Stock and Related Depositary Shares”.
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Squeezing the time span to 30 day period shows us the stock is currently trading -7.34% below one month high and is +4.14% above of the lowest during that time. Looking into the simple moving average, Bank Of America Corp (BAC)’s stock stands at a SMA-50 of $44.79 while that of 5-day is reading $44.07.
Daily rise and fall of price influence many of the traders, and in order to overcome the fluctuating effect of that and to watch the stock closely, traders focus more on stock’s 200-day moving average. At various points in trading activity, investors are more likely to be making use of that measure as a strong indicator in figuring out their support and resistance levels, and BAC’s SMA-200 as of now is $40.52.
Do analysts rate it as a buy, sell or hold?
Irrespective of recent performance, what’s important is what the future holds. In uncertain economic times, a clear picture is difficult to get. Analysts generally have a good understanding of the market works, which gives them a leg up in making predictions. Currently, the stock has been recommended as Strong Buy by 20 of the brokerage firms. Analyst ratings are often compiled into a single score from 1 to 5. The score of 1 signifies buy or strong buy, the score of 2 signifies outperform, the score of 3 means hold, and the score of 4 indicates underperform. The simple numeric range of brokerage firm referenced at the scale of 1 to 5 reads a current average recommendation of 1.78 for the stock.
Bank Of America Corp Earnings – What Happened With BAC
Coming around sales and income figures on BAC Stock Income Statement, public trading companies under normal circumstances post earnings and revenues near to average estimates by the Wall Street analysts, but those could came either above or below estimates and known as surprise factor.
BAC – Bank Of America Corp Stock Earnings Estimates
Investors get the exact data about the key information of institutional ownership in a listed company through its 13F filings at the Stock Exchange Commission (SEC). The total number of common shares currently owned by the public is 7.69 billion. BAC does have institutional investors; and they hold 72.98% of the stock.
Bank Of America Corp – Insider Activity and Holdings
As on 2024-06-30, BERKSHIRE HATHAWAY INC was the top most holder in Bank Of America Corp (NYSE:BAC) with an ownership of 1.03 billion shares of the company or 12.9622 of the stake worth $41.08 billion. The filing also reveals VANGUARD GROUP INC as the second largest holder in the company with a control over 8.0524 of the outstanding shares. Its stake is worth $25.52 billion for having 641.63 million shares in hand.
BLACKROCK INC. also came holding a key position in the company during the recent quarter and it now holds 5.9376 of the outstanding shares. With this there are now 3688.0 institutions which have possession in BAC’s shares.
Currently, the stock has been recommended as Strong Buy by 20 of the brokerage firms. Analyst ratings are often compiled into a single score from 1 to 5. The score of 1 signifies buy or strong buy, the score of 2 signifies outperform, the score of 3 means hold, and the score of 4 indicates underperform. The simple numeric range of brokerage firm referenced at the scale of 1 to 5 reads a current average recommendation of 1.78 for the stock.
The liquidity is a key characteristic of any stock and is the main point of focus of both short-term as well as long term investors before start trading into a stock. In recently reported quarter, Bank Of America Corp has a debt to equity ratio of 2.50.
Technical Analysis of Bank Of America Corp (NYSE:BAC) stock
To comprehend better with the trade moves and investors’ behavior, exploring the short, medium and long term technical indicators along with average volume of a stock is an effective way to make use of. When looking into those indicators for Bank Of America Corp (BAC), we notice that the stock’s 20-day average volume is at 32,425,400 shares and 50% of short term indicators are suggesting the stock as Buy. Medium term indicators at an average of 50% are spotting the stock at Buy with its 50-day average volume of 34,884,820 shares. And to end, BAC’s 100-day average volume is 35,772,543 shares with 100% of the long-term indicators pointing towards Buy for the stock.
