Bank Of America Corp. (NYSE: BAC) is 17.82% higher on its value in year-to-date trading and has touched a low of $24.96 and a high of $44.44 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 $39.92 in the last trading session, with the day’s loss setting it -0.25%.
Currently trading at $39.67, the stock is 2.26% and -1.23% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 32.27 million and changing -0.63% at the moment leaves the stock 9.64% off its SMA200. BAC registered 39.19% gain for a year compared to 6-month gain of 15.72%.
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The stock witnessed a -3.46% loss in the last 1 month and extending the period to 3 months gives it a 0.89%, and is 2.53% 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 1.68% over the week and 2.18% over the month.
Bank Of America Corp. (BAC) has around 213000 employees, a market worth around $307.82B and $189.16B in sales. Current P/E ratio is 13.95 and Fwd P/E is 10.76. Profit margin for the company is 12.07%. Distance from 52-week low is 58.93% and -10.73% from its 52-week high. The company has generated returns on investments over the last 12 months (3.91%).
with sales reaching $25.67B over the same period.The EPS is expected to grow by 5.65% this year, but quarterly earnings will post 12.20% year-over-year.
Bank Of America Corp. (BAC) Top Institutional Holders
3636.0 institutions hold shares in Bank Of America Corp. (BAC), with institutional investors hold 69.10% of the company’s shares. The shares outstanding are 7.90B, and float is at 7.75B with Short Float at 0.81%. Institutions hold 60.77% of the Float.
The top institutional shareholder in the company is BERKSHIRE HATHAWAY INC with over 1.03 billion shares valued at $41.08 billion. The investor’s holdings represent 12.9622% of the BAC Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 641.63 million shares valued at $25.52 billion to account for 8.0524 of the shares outstanding. The other top investors are BLACKROCK INC. which holds 473.12 million shares representing 5.9376% and valued at over $18.82 billion, while STATE STREET CORP holds 3.6117 of the shares totaling 287.79 million with a market value of $11.45 billion.
Bank Of America Corp. (BAC) Insider Activity
The most recent transaction is an insider sale by BERKSHIRE HATHAWAY INC, the company’s 10% Owner. SEC filings show that BERKSHIRE HATHAWAY INC sold 10,975,008 shares of the company’s common stock on Aug 26 ’24 at a price of $39.87 per share for a total of $437.56 million. Following the sale, the insider now owns 910.73 million shares.
Bank Of America Corp. disclosed in a document filed with the SEC on Aug 27 ’24 that BERKSHIRE HATHAWAY INC (10% Owner) sold a total of 6,931,283 shares of the company’s common stock. The trade occurred on Aug 27 ’24 and was made at $39.75 per share for $275.52 million. Following the transaction, the insider now directly holds 903.8 million shares of the BAC stock.
Still, SEC filings show that on Aug 23 ’24, BERKSHIRE HATHAWAY INC (10% Owner) disposed off 6,754,272 shares at an average price of $39.79 for $268.78 million. The insider now directly holds 921,706,667 shares of Bank Of America Corp. (BAC).
