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Bank Of America Corp. (BAC) Stock Could Soon Reward Patient Investors

Bank Of America Corp. (NYSE: BAC) is 10.78% higher on its value in year-to-date trading and has touched a low of $24.96 and a high of $38.35 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 $37.52 in the last trading session, with the day’s loss setting it -0.22%.

Currently trading at $37.30, the stock is 2.65% and 7.63% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 34.79 million and changing -0.59% at the moment leaves the stock 20.86% off its SMA200. BAC registered 31.80% gain for a year compared to 6-month gain of 36.23%.

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The stock witnessed a 8.59% loss in the last 1 month and extending the period to 3 months gives it a 10.78%, and is 1.19% 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 1.58% over the week and 1.88% over the month.

Bank Of America Corp. (BAC) has around 213000 employees, a market worth around $293.65B and $175.96B in sales. Current P/E ratio is 12.14 and Fwd P/E is 10.94. Profit margin for the company is 14.13%. Distance from 52-week low is 49.44% and -2.74% from its 52-week high. The company has generated returns on investments over the last 12 months (4.32%).

Bank Of America Corp. quarterly earnings per share for the current quarter are estimated at $0.76 with sales reaching $25.39B over the same period.The EPS is expected to grow by 1.88% this year, but quarterly earnings will post 1.30% year-over-year. Quarterly sales are estimated to shrink -3.80% in year-over-year returns.

Bank Of America Corp. (BAC) Top Institutional Holders

3,492 institutions hold shares in Bank Of America Corp. (BAC), with institutional investors hold 67.86% of the company’s shares. The shares outstanding are 7.90B, and float is at 7.86B with Short Float at 0.86%. Institutions hold 58.92% of the Float.

The top institutional shareholder in the company is Berkshire Hathaway, Inc with over 1.03 billion shares valued at $29.63 billion. The investor’s holdings represent 13.00% of the BAC Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 609.51 million shares valued at $17.49 billion to account for 7.67% of the shares outstanding. The other top investors are Blackrock Inc. which holds 475.29 million shares representing 5.98% and valued at over $13.64 billion, while State Street Corporation holds 3.61% of the shares totaling 286.8 million with a market value of $8.23 billion.

Bank Of America Corp. (BAC) Insider Activity

The most recent transaction is an insider purchase by BANK OF AMERICA CORP /DE/,the company’s10% Owner. SEC filings show that BANK OF AMERICA CORP /DE/ bought 5,398 shares of the company’s common stock on Dec 27 ’23 at a price of $10.56 per share for a total of $57023.0. Following the purchase, the insider now owns 5398.0 shares.

Bank Of America Corp. disclosed in a document filed with the SEC on Dec 15 ’23 that BANK OF AMERICA CORP /DE/ (10% Owner) sold a total of 900 shares of the company’s common stock. The trade occurred on Dec 15 ’23 and was made at $9.72 per share for $8748.0. Following the transaction, the insider now directly holds 0.0 shares of the BAC stock.

Still, SEC filings show that on Dec 13 ’23, BANK OF AMERICA CORP /DE/ (10% Owner) acquired 900 shares at an average price of $9.58 for $8622.0. The insider now directly holds 900 shares of Bank Of America Corp. (BAC).

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