Bank Of America Corp. (NYSE: BAC) on Friday, soared 3.35% from the previous trading day, before settling in for the closing price of $35.77. Within the past 52 weeks, BAC’s price has moved between $24.96 and $38.35.
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Over the past five-year period, the growth rate of yearbook sales for the company of the Financial sector was 12.08%. The company achieved an average annual earnings per share of 3.67%. With a float of $7.86 billion, this company’s outstanding shares have now reached $7.90 billion.
Considering the fact that the conglomerate employs 213000 people, you should pay attention to its efficiency factor.
Bank Of America Corp. (BAC) Insider Activity
Observing investor behavior towards Banks – Diversified industry stocks is more important than anything else. The insider ownership of Bank Of America Corp. is 0.17%, while institutional ownership is 71.93%. The most recent insider transaction that took place on Dec 27 ’23, was worth 57,023. In this transaction 10% Owner of this company bought 5,398 shares at a rate of $10.56, taking the stock ownership to the 5,398 shares. Before that another transaction happened on Dec 15 ’23, when Company’s 10% Owner sold 900 for $9.72, making the entire transaction worth $8,748. This insider now owns 0 shares in total.
Bank Of America Corp. (BAC) Earnings and Forecasts
Wall Street market experts anticipate that the next fiscal year will bring earnings of 169.82 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 3.67% 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 3.37% growth over the previous five years of trading.
Bank Of America Corp. (NYSE: BAC) Trading Performance Indicators
Bank Of America Corp. (BAC) is currently performing well based on its current performance indicators. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 1.60.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 2.89, a number that is poised to hit 0.81 in the next quarter and is forecasted to reach 3.50 in one year’s time.
Technical Analysis of Bank Of America Corp. (BAC)
Compared to the last year’s volume of 41.78 million, its volume of 61.34 million showed improvement in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 50.83%. Additionally, its Average True Range was 0.88.
During the past 100 days, Bank Of America Corp.’s (BAC) raw stochastic average was set at 84.71%, which indicates a significant increase from 72.96% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 28.25% in the past 14 days, which was higher than the 22.78% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $35.57, while its 200-day Moving Average is $31.41. Nevertheless, the first resistance level for the watch stands at $37.37 in the near term. At $37.78, the stock is likely to face the second major resistance level. The third major resistance level sits at $38.43. If the price goes on to break the first support level at $36.31, it is likely to go to the next support level at $35.66. Should the price break the second support level, the third support level stands at $35.25.
Bank Of America Corp. (NYSE: BAC) Key Stats
Market capitalization of the company is 291.05 billion based on 7,890,639K outstanding shares. Right now, sales total 171,912 M and income totals 26,515 M. The company made 43,642 M in profit during its latest quarter, and 3,144 M in sales during its previous quarter.
