Let’s look at the key reasons that are pushing Bank Of America Corp. (BAC) to new highs

On Monday, Bank Of America Corp. (NYSE: BAC) was -0.10% drop from the session before settling in for the closing price of $41.95. A 52-week range for BAC has been $24.96 – $44.44.

During the last 5-year period, the sales growth of Financial Sector giant was 12.08%. When this article was written, the company’s average yearly earnings per share was at 3.17%. With a float of $7.75 billion, this company’s outstanding shares have now reached $7.90 billion.

Let’s determine the extent of company efficiency that accounts for 213000 employees. In terms of profitability, gross margin is 68.16%, operating margin of 21.63%, and the pretax margin is 21.63%.

Bank Of America Corp. (BAC) Breakdown of a Key Holders of the stock

Also, it is sometimes useful to examine the sentiment of large-scale investors toward Bank Of America Corp. stocks. The insider ownership of Bank Of America Corp. is 0.17%, while institutional ownership is 70.32%. The most recent insider transaction that took place on Oct 09 ’24, was worth 160,662,919. In this transaction 10% Owner of this company sold 4,002,225 shares at a rate of $40.14, taking the stock ownership to the 776,614,511 shares. Before that another transaction happened on Oct 08 ’24, when Company’s 10% Owner sold 3,933,197 for $39.99, making the entire transaction worth $157,292,875. This insider now owns 780,616,736 shares in total.

Bank Of America Corp. (BAC) Recent Fiscal highlights

According to the Wall Street analysts, stocks earnings will be around 3.17% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 9.74% 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

You can see what Bank Of America Corp. (BAC) is doing with its current performance indicators. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 1.72. Likewise, its price to free cash flow for the trailing twelve months is 10.89.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 2.84, a number that is poised to hit 0.76 in the next quarter and is forecasted to reach 3.63 in one year’s time.

Technical Analysis of Bank Of America Corp. (BAC)

Looking closely at Bank Of America Corp. (NYSE: BAC), its last 5-days average volume was 31.68 million, which is a drop from its year-to-date volume of 38.81 million. As of the previous 9 days, the stock’s Stochastic %D was 86.20%. Additionally, its Average True Range was 0.79.

During the past 100 days, Bank Of America Corp.’s (BAC) raw stochastic average was set at 72.80%, which indicates a significant decrease from 92.19% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 22.69% in the past 14 days, which was lower than the 23.50% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $39.43, while its 200-day Moving Average is $37.71. However, in the short run, Bank Of America Corp.’s stock first resistance to watch stands at $42.15. Second resistance stands at $42.40. The third major resistance level sits at $42.61. If the price goes on to break the first support level at $41.69, it is likely to go to the next support level at $41.48. Now, if the price goes above the second support level, the third support stands at $41.23.

Bank Of America Corp. (NYSE: BAC) Key Stats

There are 7,820,371K outstanding shares of the company, which has a market capitalization of 325.20 billion. As of now, sales total 171,912 M while income totals 26,515 M. Its latest quarter income was 48,529 M while its last quarter net income were 6,897 M.