A new trading day began on Tuesday, with Bank Of America Corp. (NYSE: BAC) stock price up 1.29% from the previous day of trading, before settling in for the closing price of $41.76. BAC’s price has ranged from $24.96 to $44.44 over the past 52 weeks.
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A company in the Financial sector has jumped its sales by 12.08% annually for the last half of the decade. Meanwhile, its annual earnings per share averaged 4.13%. With a float of $7.68 billion, this company’s outstanding shares have now reached $7.90 billion.
In an organization with 213000 employees, it is important to assess its efficiency. In terms of profitability, gross margin is 25.15%, operating margin of 38.63%, and the pretax margin is 26.71%.
Bank Of America Corp. (BAC) Insider and Institutional Ownership
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 0.17%, while institutional ownership is 70.88%. The most recent insider transaction that took place on Oct 15 ’24, was worth 369,928,036. In this transaction 10% Owner of this company sold 8,694,538 shares at a rate of $42.55, taking the stock ownership to the 766,305,462 shares. Before that another transaction happened on Oct 09 ’24, when Company’s 10% Owner sold 4,002,225 for $40.14, making the entire transaction worth $160,662,919. This insider now owns 776,614,511 shares in total.
Bank Of America Corp. (BAC) Latest Financial update
In its latest quarterly report, released on 9/30/2024, the company reported earnings of 0.35 per share, which was $0.1 lower 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). Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.85 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 4.13% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 8.04% 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
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 1.69. 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 2.75, a number that is poised to hit 0.79 in the next quarter and is forecasted to reach 3.68 in one year’s time.
Technical Analysis of Bank Of America Corp. (BAC)
Let’s dig in a bit further. During the last 5-days, its volume was 33.69 million. That was inferior than the volume of 38.8 million it reported in year-ago period. As of the previous 9 days, the stock’s Stochastic %D was 65.95%. Additionally, its Average True Range was 0.80.
During the past 100 days, Bank Of America Corp.’s (BAC) raw stochastic average was set at 76.99%, which indicates a significant decrease from 77.11% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 23.64% in the past 14 days, which was higher than the 23.43% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $39.99, while its 200-day Moving Average is $37.97. However, in the short run, Bank Of America Corp.’s stock first resistance to watch stands at $42.61. Second resistance stands at $42.93. The third major resistance level sits at $43.45. If the price goes on to break the first support level at $41.78, it is likely to go to the next support level at $41.26. The third support level lies at $40.94 if the price breaches the second support level.
Bank Of America Corp. (NYSE: BAC) Key Stats
With a market capitalization of 325.23 billion, the company has a total of 7,820,371K Shares Outstanding. Currently, annual sales are 171,912 M while annual income is 26,515 M. The company’s previous quarter sales were 48,869 M while its latest quarter income was 6,896 M.
