Why Bank of America Corporation [BAC] Stock Can Charge Above The $28.69 Level

Bank of America Corporation [BAC] has traded in a range of $17.95 to $35.72 in the last 1 year. As of this writing, the stock is at $28.69, up 1.88%. To check whether the stock’s short-term amount has a thrust, its good to check stock’s recent movement. Over the last week, BAC shares are 4.75% up with the monthly amount drift of 21.05% and seems well in a long time frame.

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On 19, November 2020, Bank of America Expands the Bank of America Institute for Women’s Entrepreneurship at Cornell. According to news published on Yahoo Finance, Adds 30,000 Seats and Develops Spanish Language Curriculum.

Analyst Birdseye View:

The most recent analyst activity for Bank of America Corporation [NYSE:BAC] stock was on September 03, 2020, when it was Upgrade with a Buy rating from Deutsche Bank, which also raised its 12-month price target on the stock from $27 to $29. On July 09, 2020, DA Davidson Downgrade a Neutral rating and plunged its price target on this stock from $27 to $25. On July 08, 2020, Seaport Global Securities Initiated a Neutral rating. On July 07, 2020, Societe Generale Upgrade a Buy rating. On April 14, 2020, Societe Generale Upgrade a Hold rating. On April 02, 2020, DA Davidson Upgrade a Buy rating and decreased its target amount on this stock from $36 to $24.

In the past 52 weeks of trading, this stock has oscillated between a low of $17.95 and a peak of $35.72. Right now, the middling Wall Street analyst 12-month amount mark is $28.05. At the most recent market close, shares of Bank of America Corporation [NYSE:BAC] were valued at $28.69. According to the average price forecast, investors can expect a potential return of -2.6%.


Bank of America Corporation [NYSE:BAC] most recently reported quarterly sales of 11.49 billion, which represented growth of -35.90%. This publicly-traded organization’s revenue is $546,216 per employee, while its income is $131,875 per employee. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at 1.14, 10.35, 4.76 and 5.80 respectively.

The Principal structure of this organization shows its whole liability to whole principal at 62.44 and the whole liability to whole assets at 18.01. It shows enduring liability to the whole principal at 31.89 and enduring liability to assets at 0.09 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 28.56 points at 1st support level, the second support level is making up to 28.43. But as of 1st resistance point, this stock is sitting at 28.93 and at 29.17 for 2nd resistance point.

Bank of America Corporation [BAC] reported its earnings at $0.51 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at $0.49/share signifying the difference of 0.02 and 4.10% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were $0.37 calling estimates for $0.27/share with the difference of 0.1 depicting the surprise of 37.00%.

Now if looking for a valuation of this stock’s amount to sales ratio it’s 2.93, it’s amount to book ratio is 1.29 and showing 14.17 of P/E (TTM) ratio.

Insider Stories

The most recent insider trade was by BANK OF AMERICA CORP /DE/, 10% Owner, and it was the purchase of 5.0 shares on Dec 29. BANK OF AMERICA CORP /DE/, the 10% Owner, completed a purchase of 3.0 shares on Dec 21. On Sep 14, BANK OF AMERICA CORP /DE/, 10% Owner, completed a purchase of 165.0 shares.