Bank of America Corporation (NYSE: BAC) is 20.03% higher on its value in year-to-date trading and has touched a low of $17.95 and a high of $35.89 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BAC stock was last observed hovering at around $35.52 in the last trading session, with the day’s gains setting it 0.86% off its average median price target of $37.00 for the next 12 months. It is also 17.32% off the consensus price target high of $44.00 offered by 28 analysts, but current levels are -21.27% lower than the price target low of $30.00 for the same period.
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Currently trading at $36.38, the stock is 11.68% and 15.40% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 57.95 million and changing 2.42% at the moment leaves the stock 36.08% off its SMA200. BAC registered 17.05% gain for a year compared to 6-month gain of 41.61%. The firm has a 50-day simple moving average (SMA 50) of $32.60 and a 200-day simple moving average (SMA200) of $27.87.
The stock witnessed a 16.75% loss in the last 1 month and extending the period to 3 months gives it a 35.70%, and is 5.73% 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 2.12% over the week and 2.19% over the month.
Bank of America Corporation (BAC) has around 211000 employees, a market worth around $311.53B and $51.59B in sales. Current P/E ratio is 19.42 and Fwd P/E is 12.86. Profit margin for the company is 36.50%. Distance from 52-week low is 102.67% and 1.37% 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”. 28 analysts offering their recommendations for the stock have an average rating of 2.20, where 8 rate it as a Hold and 3 think it is a “Overweight”. 15 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 $0.6 with sales reaching $21.33B over the same period.The EPS is expected to grow by 5.60% this year, but quarterly earnings will post -1.20% year-over-year. Quarterly sales are estimated to shrink -6.90% 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 8.64B with Short Float at 0.84%. 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 $30.62 billion. The investor’s holdings represent 11.68% of the BAC Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 614.74 million shares valued at $18.63 billion to account for 7.11% of the shares outstanding. The other top investors are Blackrock Inc. which holds 509.5 million shares representing 5.89% and valued at over $15.44 billion, while State Street Corporation holds 3.69% of the shares totaling 319.29 million with a market value of $9.68 billion.
Bank of America Corporation (BAC) Insider Activity
A total of 98 insider transactions have happened at Bank of America Corporation (BAC) in the last six months, with sales accounting for 53 and purchases happening 45 times. 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).
Bank of America Corporation (BAC): Who are the competitors?
The company’s main competitors (and peers) include Wells Fargo & Company (WFC) that is trading -15.14% down over the past 12 months. Barclays PLC (BCS) is 9.46% up on the 1-year trading charts. Short interest in the company’s stock has fallen -1.39% from the last report on Dec 30, 2020 to stand at a total of 73.55 million short shares sold with a short interest ratio of 1.36.