May 19, 2023, Bank of America Corporation (NYSE: BAC) trading session started at the price of $28.455, that was -1.26% drop from the session before. During the day, the shares moved up to $28.67 and dropped to $28.03 before settling in for the closing price of $28.47. A 52-week range for BAC has been $26.32 – $38.60.
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Annual sales at Financial sector company grew by 4.70% over the past five years. When this article was written, the company’s average yearly earnings per share was at -10.80%. With a float of $7.96 billion, this company’s outstanding shares have now reached $8.07 billion.
Let’s look at the performance matrix of the company that is accounted for 217000 employees.
Bank of America Corporation (BAC) Insider Updates
Also, it is sometimes useful to examine the sentiment of large-scale investors toward Bank of America Corporation stocks. The insider ownership of Bank of America Corporation is 0.11%, while institutional ownership is 71.00%. The most recent insider transaction that took place on Feb 23, was worth 3,600,411. In this transaction Pres, Gl Corp & Invest Banking of this company sold 105,054 shares at a rate of $34.27, taking the stock ownership to the 319,803 shares. Before that another transaction happened on Feb 02, when Company’s Pres, Gl Corp & Invest Banking sold 214,745 for $35.91, making the entire transaction worth $7,712,137. This insider now owns 214,747 shares in total.
Bank of America Corporation (BAC) Performance Highlights and Predictions
Going through the last 3-months fiscal report unveiled on the 3/30/2023, it has been observed that the corporation posted $0.94 earnings per share (EPS) during the time that was better than consensus figure (set at $0.82) by $0.12. This company achieved a net margin of +23.82 while generating a return on equity of 10.13. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.83 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around -10.80% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 3.36% during the next five years compared to 12.90% growth over the previous five years of trading.
Bank of America Corporation (NYSE: BAC) Trading Performance Indicators
You can see what Bank of America Corporation (BAC) is doing with its current performance indicators. In the most recent quarter, the stock posted a price to sales ratio for the trailing twelve months stands at 2.57. Likewise, its price to free cash flow for the trailing twelve months is 11.01.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 3.32, a number that is poised to hit 0.86 in the next quarter and is forecasted to reach 3.37 in one year’s time.
Technical Analysis of Bank of America Corporation (BAC)
Bank of America Corporation (NYSE: BAC) saw its 5-day average volume 47.01 million, a negative change from its year-to-date volume of 54.4 million. As of the previous 9 days, the stock’s Stochastic %D was 84.16%. Additionally, its Average True Range was 0.78.
During the past 100 days, Bank of America Corporation’s (BAC) raw stochastic average was set at 16.76%, which indicates a significant decrease from 63.16% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 31.56% in the past 14 days, which was higher than the 29.20% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $28.43, while its 200-day Moving Average is $32.89. Nevertheless, the first resistance level for the watch stands at $28.51 in the near term. At $28.91, the stock is likely to face the second major resistance level. The third major resistance level sits at $29.15. If the price goes on to break the first support level at $27.87, it is likely to go to the next support level at $27.63. Assuming the price breaks the second support level, the third support level stands at $27.23.
Bank of America Corporation (NYSE: BAC) Key Stats
There are 7,969,153K outstanding shares of the company, which has a market capitalization of 226.88 billion. As of now, sales total 115,053 M while income totals 27,528 M. Its latest quarter income was 40,465 M while its last quarter net income were 8,161 M.
