Bank Of America Corp. [BAC] stock is trading at $34.52, up 0.61%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The BAC shares have gain 2.71% over the last week, with a monthly amount drifted -0.78%, and not seem to be holding up well over a long-time horizon.
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On 29, February 2024, Bank of America Announces Redemption of 3.458% Fixed/Floating Rate Senior Notes Due March 2025. In a post published today on Yahoo Finance, Bank of America Corporation announced today that it will redeem on March 15, 2024 all $2,250,000,000 principal amount outstanding of its 3.458% Fixed/Floating Rate Senior Notes, due March 2025 (CUSIP No. 06051GHR3) (the “Notes”), at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the redemption date of March 15, 2024.
From an analyst’s perspective:
Bank Of America Corp. [NYSE: BAC] stock has seen the most recent analyst activity on January 30, 2024, when Morgan Stanley upgraded its rating to a Overweight and also boosted its price target to $41 from $32. Previously, Odeon downgraded its rating to Hold on January 16, 2024. On December 14, 2023, upgrade upgraded it’s rating to Buy. Keefe Bruyette upgraded its rating to a Mkt Perform and increased its price target to $30 on November 06, 2023. HSBC Securities initiated its recommendation with a Buy and recommended $35 as its price target on September 07, 2023. UBS reiterated a Buy rating for this stock on April 19, 2023, and upped its price target to $36. In a note dated April 19, 2023, RBC Capital Mkts reiterated an Outperform rating on this stock and boosted its target price from $34 to $35.
Bank Of America Corp. [BAC] stock has fluctuated between $24.96 and $35.10 over the past year. Currently, Wall Street analysts expect the stock to reach $44.45 within the next 12 months. Bank Of America Corp. [NYSE: BAC] shares were valued at $34.52 at the most recent close of the market. An investor can expect a potential return of 28.77% based on the average BAC price forecast.
Analyzing the BAC fundamentals
Bank Of America Corp. [NYSE:BAC] reported sales of 175.96B for the trailing twelve months, which represents a growth of 24.49%. Gross Profit Margin for this corporation currently stands at 0.74% with Operating Profit Margin at 0.3%, Pretax Profit Margin comes in at 0.3%, and Net Profit Margin reading is 0.28%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.09 and Total Capital is 0.01. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.15.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 34.23 points at the first support level, and at 33.94 for the second support level. However, for the 1st resistance point, the stock is sitting at 34.73, and for the 2nd resistance point, it is at 34.94.
Bank Of America Corp. [BAC] reported earnings per share of $0.7 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.68/share, meaning a difference of $0.02 and a surprise factor of 2.90%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.9 per share as compared to estimates of $0.82 per share, a difference of $0.08 representing a surprise of 9.80%.
Ratios To Look Out For
For context, Bank Of America Corp.’s Current Ratio is 0.99. Considering the valuation of this stock, the price to sales ratio is 1.54, the price to book ratio is 1.04 and price to earnings (TTM) ratio is 11.23.
Transactions by insiders
Recent insider trading involved BANK OF AMERICA CORP /DE/, 10% Owner, that happened on Dec 27 when 5398.0 shares were purchased. 10% Owner, BANK OF AMERICA CORP /DE/ completed a deal on Dec 15 to sell 900.0 shares. Meanwhile, 10% Owner BANK OF AMERICA CORP /DE/ bought 900.0 shares on Dec 13.
