An Bank of America Corporation (BAC) Vice Chairman Sells 80000.0 Shares

Bank of America Corporation (NYSE:BAC) finished Tuesday with an addition of $0.88 to close at $44.22, an upside of 2.03 percent. An average of 47,000,398 shares of common stock have been traded in the last five days. There was a gain of $1.06 in the past week. The last 20 days have seen an average of 49,159,680 shares traded, while the 50-day average volume stands at 46,693,605.

BAC stock has increased by 7.72% in the last month. The company shares reached their 1-month lowest point of $38.36 on 09/20/21. With the stock rallying to its 52-week high on 10/05/21, shares of the company touched a low of $23.12 and a high of $44.06 in 52 weeks. In spite of this, the price is up 0.35% from the 52-week high.


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Insider Transactions

61 days have passed since Bank of America Corporation (BAC) last reported insider trading activity. Nguyen Thong M, who is Vice Chairman, most recently acquired $80,000 shares at $39.98 per share on Aug 06. In this transaction, the insider spent $3,198,400. Director, BRAMBLE FRANK P, disposed of 4,400 shares at a price of $40.58 on Apr 30. The insider now owns more than $178,530 worth of shares. Prior to that, Director BRAMBLE FRANK P went on to Sale 4,400 shares at $40.58 each on Apr 30. An amount of $178,530 was transacted.

Valuation Metrics

Bank of America Corporation (BAC) has a trailing price-to-earnings (P/E) ratio of 14.80, which compares with the 16.80 for the broader industry and 12.69 for the sector. This means investors are optimistic about the stock’s future prospects. In the last five years, Bank of America Corporation’s PE ratio has ranged between 21.19 and 6.598. The stock’s beta is 1.51. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 8.02, the price-to-book (PB) ratio at 1.50.

Bank of America Corporation pays a $0.84 dividend per share annually. It offers a dividend yield of 1.90%. The company has a payout ratio of 23.90%. The company’s most recent quarterly dividend payment took place on Sep. 24 , and it was $0.21 a share, representing a up of 14.29 from $0.18 last year. Its dividend has been increased for the last 1 consecutive years with the latest increase dividend $0.03 reported on Wednesday July 21 2021. Dividends have grown by 84.62% each year over the last three years.

Bank of America Corporation will next go ex-dividend on 2-Dec-2021. The next dividend payment Bank of America Corporation will make is expected to be $0.21.

Further, the company has a long term debt to equity ratio of 1.05 and a total debt to equity ratio of 2.01 for the quarter ending June 29. Its gross profit as reported stood at $43.36 billion compared to revenue of $51.59 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Bank of America Corporation’s return on assets was 0.90%, compared to 0.9% over the last five years. Meanwhile, the return on equity (ROE) for the past 12 months has been 10.50% and the 5-year average holds at 8.4%. For the broader industry, ROE averaged 11.10 over the past year.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Bank of America Corporation (BAC) price momentum. RSI 9-day as of the close on 05 October was 72.61%, suggesting the stock is Overbought, with historical volatility in this time frame at 22.44%.

As of today, BAC’s price is $43.23 +2.46% or $1.06 from its 5-day moving average. BAC is currently trading +7.02% higher than its 20-day SMA and +5.69% higher than its 100-day SMA. However, the stock’s current price level is +15.97% above the SMA50 and +53.38% above the SMA200.

The stochastic %K and %D were 87.37% and 82.50%, respectively, and the average true range (ATR) was 1.06. With the 14-day stochastic at 91.71% and the average true range at 1.02, the RSI (14) stands at 67.41%. The stock has reached 0.61 on the 9-day MACD Oscillator while the 14-day reading was at 1.71.

Analyst Ratings

Odeon upgraded Bank of America Corporation (NYSE: BAC) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a a Hold.The consensus rating for Bank of America Corporation (BAC) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell BAC, while 8 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 15 others rate it as a “buy”.

What is BAC’s price target for the next 12 months?

Analysts predict a range of price targets between $34.00 and $52.00, with a median target of $44.00. Taking a look at these predictions, the average price target given by analysts for Bank of America Corporation (BAC) stock is $44.28.

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