Bank Of America Corp (NYSE: BAC) is 4.16% higher on its value in year-to-date trading and has touched a low of $31.27 and a high of $48.08 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 $45.06 in the last trading session, with the day’s gains setting it 0.72%.
Currently trading at $45.78, the stock is 2.30% and 0.90% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 35.37 million and changing 1.60% at the moment leaves the stock 11.72% off its SMA200. BAC registered 38.10% gain for a year compared to 6-month gain of 9.29%. The firm has a 50-day simple moving average (SMA 50) of $45.3014 and a 200-day simple moving average (SMA200) of $40.93915.
The stock witnessed a -0.65% loss in the last 1 month and extending the period to 3 months gives it a 9.13%, and is 0.84% 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 1.87% over the week and 1.92% over the month.
Bank Of America Corp (BAC) has around 213000 employees, a market worth around $351.26B and $195.55B in sales. Current P/E ratio is 16.64 and Fwd P/E is 12.25. Profit margin for the company is 11.22%. Distance from 52-week low is 46.40% and -4.78% from its 52-week high. The company has generated returns on investments over the last 12 months (3.65%).
with sales reaching $25.1B over the same period.The EPS is expected to grow by 3.92% this year, but quarterly earnings will post 3.37% year-over-year. Quarterly sales are estimated to grow 14.32% in year-over-year returns.
Bank Of America Corp (BAC) Top Institutional Holders
3677.0 institutions hold shares in Bank Of America Corp (BAC), with institutional investors hold 70.51% of the company’s shares. The shares outstanding are 7.69B, and float is at 7.66B with Short Float at 0.97%. Institutions hold 63.40% 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 purchase by BANK OF AMERICA CORP /DE/, the company’s 10% Owner. SEC filings show that BANK OF AMERICA CORP /DE/ bought 16,585 shares of the company’s common stock on Jan 10 ’25 at a price of $6.02 per share for a total of $99842.0. Following the purchase, the insider now owns 16585.0 shares.
Bank Of America Corp disclosed in a document filed with the SEC on Jan 10 ’25 that BANK OF AMERICA CORP /DE/ (10% Owner) sold a total of 16,585 shares of the company’s common stock. The trade occurred on Jan 10 ’25 and was made at $6.00 per share for $99510.0. Following the transaction, the insider now directly holds 0.0 shares of the BAC stock.
Still, SEC filings show that on Oct 30 ’24, BANK OF AMERICA CORP /DE/ (10% Owner) acquired 200 shares at an average price of $8.84 for $1768.0. The insider now directly holds 200 shares of Bank Of America Corp (BAC).
