Bank of America Corporation (NYSE:BAC) saw an upside of 0.50% to close Friday at $44.34 after adding $0.22 on the day. The 5-day average trading volume is 47,003,160 shares of the company’s common stock. It has gained $44.87 in the past week. An average of 50,151,000 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 46,837,215.
BAC’s 1-month performance is 8.33% or $3.56 on its low of $38.36 reached on 09/20/21. The company’s shares have touched a 52-week low of $23.12 and high of $44.87, with the stock’s rally to the 52-week high happening on 10/07/21. YTD, BAC has achieved 46.29% or $14.03. However, the current price is down -1.18%% from the 52-week high price.
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On Aug 06, 66 days have gone by since the last insider trading activity for Bank of America Corporation (BAC). Nguyen Thong M (Vice Chairman) most recently sold 80,000 shares at $39.98 per share on Aug 06. This transaction cost the insider $3,198,400. Director, BRAMBLE FRANK P, sold 4,400 shares at a price of $40.58 on Apr 30. Then, on Apr 30, Director BRAMBLE FRANK P sold 4,400 shares at a price of $40.58 per share. This transaction amounted to $178,530.
The company’s PE ratio for the last five years has touched a high of 21.19 and a low of 6.598. BAC stock has a beta of 1.53. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 8.12 while the price-to-book (PB) in the most recent quarter is 1.51.
Bank of America Corporation pays an annual dividend of $0.84 per share. Its dividend yield is 1.89% and the payout ratio is 23.90%. BAC’s most recent quarterly dividend payment was made on Sep. 24, when it paid $0.21 a share compared with prior rate of $0.18, up 14.29% from last year’s. The company has boosted its dividend for the last 1 consecutive years with the latest dividend increase of $0.03 reported on Wednesday July 21 2021. Measured over the last 3 years, the Dividend has been growing by 84.62% yearly.
It is projected that Bank of America Corporation’s next ex-dividend date will be on 2-Dec-2021. BAC is expected to distribute $0.21 as its next dividend.
As well, the company’s long term debt to equity for the quarter ending June 29 was 1.05, while the total debt to equity was 2.01 while for the period ending June 29; Bank of America Corporation’s operating margin was 92.90%. The firm’s gross profit as reported stood at $43.36 billion against revenue of $51.59 billion.
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected BAC to announce $0.77 per share in earnings in its latest quarter, but it posted $1.03, representing a 33.80% surprise. BAC stock balance sheet for the quarter ending June 29 shows that, with total debt at $574.67 billion. Shareholders hold equity totaling $8.41 billion
Let’s look briefly at Bank of America Corporation (BAC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 October was 72.28% to suggest the stock is trending Overbought, with historical volatility in this time period at 15.19%.
The stock’s 5-day moving average is $44.05, reflecting a +2.92% or $1.26 change from its current price. BAC is currently trading +10.11% above its 20-day SMA, +5.17% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +14.63% and +51.80% respectively.
Stochastic %K and %D was 90.52% and 90.53% and the average true range (ATR) pointed at 0.99. The RSI (14) points at 67.44%, while the 14-day stochastic is at 91.07% with the period’s ATR at 0.98. The stock’s 9-day MACD Oscillator is pointing at 0.68 and 1.49 on the 14-day charts.
In the most recent analyst report for Bank of America Corporation (NYSE: BAC), Wolfe Research downgraded it to a Peer perform rating. They previously had an Outperform rating on the stock. Analysts offering their rating for BAC stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate BAC as a “sell,”, while 9 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 2 rates the stock as overweight while 14 have offered a “buy” rating.
What is BAC’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $34.00 and a high of $52.00, with their median price target at $45.00. Looking at these predictions, the average price target given by analysts is for Bank of America Corporation (BAC) stock is $44.50.