A new trading day began on November 20, 2023, with Bank Of America Corp. (NYSE: BAC) stock priced at $29.98, up 0.10% from the previous day of trading. During the day, the shares moved up to $30.25 and dropped to $29.75 before settling in for the closing price of $29.98. BAC’s price has ranged from $24.96 to $37.87 over the past 52 weeks.
Over the past five-year period, the growth rate of yearbook sales for the company of the Financial sector was 3.56%. Meanwhile, its annual earnings per share averaged 7.75%. With a float of $7.90 billion, this company’s outstanding shares have now reached $8.00 billion.
Considering the fact that the conglomerate employs 217000 people, you should pay attention to its efficiency factor.
Bank Of America Corp. (BAC) Insider Activity
As we move forward, let’s examine how large-scale investors are investing in this stock of the Banks – Diversified Industry. The insider ownership of Bank Of America Corp. is 0.15%, while institutional ownership is 70.95%. The most recent insider transaction that took place on Nov 08, was worth 43,504. In this transaction 10% Owner of this company bought 4,175 shares at a rate of $10.42, taking the stock ownership to the 4,175 shares. Before that another transaction happened on Nov 08, when Company’s 10% Owner sold 4,175 for $10.48, making the entire transaction worth $43,754. This insider now owns 0 shares in total.
Bank Of America Corp. (BAC) Earnings and Forecasts
In its latest quarterly report, released on 9/29/2023, the company reported earnings of $0.82 per share, which was $0.1 higher than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). 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 0.72 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 7.75% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 24.37% during the next five years compared to 15.36% growth over the previous five years of trading.
Bank Of America Corp. (NYSE: BAC) Trading Performance Indicators
Here are Bank Of America Corp.’s current performance indicators. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 1.42. Likewise, its price to free cash flow for the trailing twelve months is 7.74.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 3.57, a number that is poised to hit 0.68 in the next quarter and is forecasted to reach 3.28 in one year’s time.
Technical Analysis of Bank Of America Corp. (BAC)
Compared to the last year’s volume of 48.99 million, its volume of 47.23 million showed lagged in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 94.35%. Additionally, its Average True Range was 0.69.
During the past 100 days, Bank Of America Corp.’s (BAC) raw stochastic average was set at 64.01%, which indicates a significant decrease from 94.15% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 30.17% in the past 14 days, which was higher than the 25.63% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $27.45, while its 200-day Moving Average is $29.30. Nevertheless, the first resistance level for the watch stands at $30.26 in the near term. At $30.50, the stock is likely to face the second major resistance level. The third major resistance level sits at $30.76. If the price goes on to break the first support level at $29.76, it is likely to go to the next support level at $29.50. Should the price break the second support level, the third support level stands at $29.26.
Bank Of America Corp. (NYSE: BAC) Key Stats
With a market capitalization of 237.49 billion, the company has a total of 7,913,732K Shares Outstanding. Currently, annual sales are 115,053 M while annual income is 27,528 M. The company’s previous quarter sales were 44,412 M while its latest quarter income was 7,802 M.