Bank of America Corporation (BAC) Volatility At 1.65%, Should You Add A Position?

Bank of America Corporation (NYSE: BAC) is -0.92% lower on its value in year-to-date trading and has touched a low of $17.95 and a high of $35.67 in the current 52-week trading range. The BAC stock was last observed hovering at around $30.31 in the last trading session, with the day’s loss setting it -0.28% off its average median price target of $30.00 for the next 12 months. It is also 26.76% off the consensus price target high of $41.00 offered by 26 analysts, but current levels are -36.5% lower than the price target low of $22.00 for the same period.

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Currently trading at $30.03, the stock is 2.64% and 9.43% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 51.37 million and changing -0.92% at the moment leaves the stock 20.46% off its SMA200. BAC registered -13.95% loss for a year compared to 6-month gain of 26.92%. The firm has a 50-day simple moving average (SMA 50) of $28.79 and a 200-day simple moving average (SMA200) of $25.75.

The stock witnessed a 3.34% loss in the last 1 month and extending the period to 3 months gives it a 24.04%, and is 0.23% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.65% over the week and 1.96% over the month.

Bank of America Corporation (BAC) has around 211000 employees, a market worth around $256.96B and $57.05B in sales. Current P/E ratio is 14.84 and Fwd P/E is 13.94. Profit margin for the company is 31.60%. Distance from 52-week low is 67.30% and -15.81% from its 52-week high. The company has generated returns on investments over the last 12 months (6.00%).

Bank of America Corporation (BAC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Bank of America Corporation (BAC) is a “Overweight”. 26 analysts offering their recommendations for the stock have an average rating of 2.30, where 11 rate it as a Hold and 1 think it is a “Overweight”. 13 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Bank of America Corporation is expected to release its quarterly report on 04/15/2021 and quarterly earnings per share for the current quarter are estimated at $0.52 with sales reaching $20.39B over the same period.The EPS is expected to grow by 5.60% this year, but quarterly earnings will post -6.20% year-over-year. Quarterly sales are estimated to shrink -9.40% in year-over-year returns.

Bank of America Corporation (BAC) Top Institutional Holders

2,661 institutions hold shares in Bank of America Corporation (BAC), with 8.82M shares held by insiders accounting for 0.10% while institutional investors hold 71.17% of the company’s shares. The shares outstanding are 8.73B, and float is at 8.63B with Short Float at 0.83%. Institutions hold 71.10% of the Float.

The top institutional shareholder in the company is Berkshire Hathaway, Inc with over 1.01 billion shares valued at $24.33 billion. The investor’s holdings represent 11.68% of the BAC Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 613.53 million shares valued at $14.78 billion to account for 7.09% of the shares outstanding. The other top investors are Blackrock Inc. which holds 509.93 million shares representing 5.89% and valued at over $12.28 billion, while State Street Corporation holds 3.70% of the shares totaling 320.04 million with a market value of $7.71 billion.

Bank of America Corporation (BAC) Insider Activity

The most recent transaction is an insider purchase by BANK OF AMERICA CORP /DE/, the company’s 10% Owner. SEC filings show that BANK OF AMERICA CORP /DE/ bought 5 shares of the company’s common stock on Dec 29 at a price of $14.70 per share for a total of $74.0. Following the purchase, the insider now owns 5.0 shares.

Bank of America Corporation disclosed in a document filed with the SEC on Dec 21 that BANK OF AMERICA CORP /DE/ (10% Owner) bought a total of 3 shares of the company’s common stock. The trade occurred on Dec 21 and was made at $14.70 per share for $44.0. Following the transaction, the insider now directly holds 3.0 shares of the BAC stock.

Still, SEC filings show that on Sep 14, BANK OF AMERICA CORP /DE/ (10% Owner) acquired 165 shares at an average price of $15.29 for $2523.0. The insider now directly holds 165 shares of Bank of America Corporation (BAC).

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Bank of America Corporation (BAC): Who are the competitors?

The company’s main competitors (and peers) include Wells Fargo & Company (WFC) that is trading -44.40% down over the past 12 months. Barclays PLC (BCS) is -19.14% down on the 1-year trading charts. Short interest in the company’s stock has risen 2.22% from the last report on Nov 12, 2020 to stand at a total of 70.03 million short shares sold with a short interest ratio of 1.44.

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