Analysts’ Views On Bank of America Corporation (BAC)

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Bank of America Corporation (NYSE:BAC) finished Thursday with a subtraction of -$0.65 to close at $32.50, a downside of -1.96 percent. An average of 43,369,980 shares of common stock have been traded in the last five days. There was a fall of -$2.01 in the past week, and it reached a new high 19 times over the past 12 months. The last 20 days have seen an average of 40,500,430 shares traded, while the 50-day average volume stands at 38,619,184.

BAC stock has decreased by -5.55% in the last month. The company shares reached their 1-month lowest point of $32.39 on 09/22/22. With the stock rallying to its 52-week high on 02/10/22, shares of the company touched a low of $29.67 and a high of $50.11 in 52 weeks. It has reached a new high 5 times so far this year and lost -26.95% or -$11.99 in price. In spite of this, the price is down -35.14% from the 52-week high.


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Insider Transactions

238 days have passed since Bank of America Corporation (BAC) last reported insider trading activity. Sieg Andrew M., who is Pres, Merill Wealth Mgmt, most recently acquired $18,407 shares at $45.12 per share on Jan 28. In this transaction, the insider spent $830,524. Director, BRAMBLE FRANK P, disposed of 2,200 shares at a price of $48.22 on Nov 02. The insider now owns more than $106,091 worth of shares. Prior to that, Director BRAMBLE FRANK P went on to Sale 2,200 shares at $48.22 each on Nov 02. An amount of $106,093 was transacted.

Valuation Metrics

Bank of America Corporation (BAC) has a trailing price-to-earnings (P/E) ratio of 10.12. The stock’s beta is 1.37. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.01, the price-to-book (PB) ratio at 1.10.

The company has a payout ratio of 26.00%. The company’s most recent quarterly dividend payment was $0.22 a share, representing a up of 4.76% from $0.21 last year. Its latest increase dividend $0.01 reported on Wednesday July 20 2022.

Financial Health

Further, the company has a long term debt to equity ratio of 1.12 and a total debt to equity ratio of 2.11 for the quarter ending June 29. Its gross profit as reported stood at $42.93 billion compared to revenue of $47.67 billion.

Earnings Surprise

For the three-month period that ended June 29, Bank of America Corporation had $275.7 billion in total debt. The analyst consensus anticipated Bank of America Corporation’s latest quarter earnings to come in at $0.75 per share, but it turned out to be $0.73, a -2.70% surprise. At the end of the quarter ending June 29, Bank of America Corporation’s stock balance sheet showed total debt was $563.64 billion. Shareholders own equity worth $8.04 billion.

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 22 September was 33.62%, suggesting the stock is Neutral, with historical volatility in this time frame at 29.00%.

As of today, BAC’s price is $33.73 -5.82% or -$2.01 from its 5-day moving average. BAC is currently trading -5.85% lower than its 20-day SMA and -8.91% lower than its 100-day SMA. However, the stock’s current price level is +5.38% above the SMA50 and -26.39% below the SMA200.

The stochastic %K and %D were 24.31% and 42.43%, respectively, and the average true range (ATR) was 1.02. With the 14-day stochastic at 3.40% and the average true range at 0.99, the RSI (14) stands at 38.70%. The stock has reached -0.76 on the 9-day MACD Oscillator while the 14-day reading was at -0.72.

Analyst Ratings

Societe Generale 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 Hold. The consensus rating for Bank of America Corporation (BAC) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BAC, while 9 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 5 analysts, while 13 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 $55.00, with a median target of $41.00. Taking a look at these predictions, the average price target given by analysts for Bank of America Corporation (BAC) stock is $41.75.

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