Positives for Bank of America Corporation (BAC) as stock gains in recent trading

Bank of America Corporation (NYSE: BAC) is 25.64% higher on its value in year-to-date trading and has touched a low of $20.10 and a high of $40.38 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 $39.17 in the last trading session, with the day’s loss setting it -1.09% off its average median price target of $43.00 for the next 12 months. It is also 23.84% off the consensus price target high of $50.00 offered by 28 analysts, but current levels are -8.8% lower than the price target low of $35.00 for the same period.

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Currently trading at $38.08, the stock is -2.21% and 2.94% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 50.78 million and changing -2.78% at the moment leaves the stock 29.84% off its SMA200. BAC registered 69.24% gain for a year compared to 6-month gain of 57.10%. The firm has a 50-day simple moving average (SMA 50) of $36.86 and a 200-day simple moving average (SMA200) of $30.19.

The stock witnessed a -1.17% loss in the last 1 month and extending the period to 3 months gives it a 16.20%, and is -3.15% down 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 2.71% over the week and 2.14% over the month.

Bank of America Corporation (BAC) has around 213000 employees, a market worth around $325.09B and $46.88B in sales. Current P/E ratio is 16.29 and Fwd P/E is 12.51. Profit margin for the company is 38.40%. Distance from 52-week low is 89.45% and -5.68% from its 52-week high. The company has generated returns on investments over the last 12 months (5.50%).

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 07/14/2021 and quarterly earnings per share for the current quarter are estimated at $0.75 with sales reaching $22.09B over the same period.The EPS is expected to shrink by -32.00% this year, but quarterly earnings will post 3.00% year-over-year.

Bank of America Corporation (BAC) Top Institutional Holders

2,970 institutions hold shares in Bank of America Corporation (BAC), with 9.79M shares held by insiders accounting for 0.11% while institutional investors hold 72.25% of the company’s shares. The shares outstanding are 8.72B, and float is at 8.58B with Short Float at 1.01%. Institutions hold 72.17% 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 11.71% 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 7.13% of the shares outstanding. The other top investors are Blackrock Inc. which holds 509.5 million shares representing 5.91% and valued at over $15.44 billion, while State Street Corporation holds 3.70% 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 135 insider transactions have happened at Bank of America Corporation (BAC) in the last six months, with sales accounting for 72 and purchases happening 63 times. The most recent transaction is an insider sale by Bless Rudolf A., the company’s Chief Accounting Officer. SEC filings show that Bless Rudolf A. sold 140,677 shares of the company’s common stock on Feb 25 at a price of $36.44 per share for a total of $5.13 million. Following the sale, the insider now owns 0.11 million shares.

Bank of America Corporation disclosed in a document filed with the SEC on Dec 29 that BANK OF AMERICA CORP /DE/ (10% Owner) bought a total of 5 shares of the company’s common stock. The trade occurred on Dec 29 and was made at $14.70 per share for $74.0. Following the transaction, the insider now directly holds 5.0 shares of the BAC stock.

Still, SEC filings show that on Dec 21, BANK OF AMERICA CORP /DE/ (10% Owner) acquired 3 shares at an average price of $14.70 for $44.0. The insider now directly holds 3 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 53.68% up over the past 12 months. Barclays PLC (BCS) is 128.15% up on the 1-year trading charts. Short interest in the company’s stock has fallen -19.65% from the last report on Mar 30, 2021 to stand at a total of 86.46 million short shares sold with a short interest ratio of 1.44.

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