Bank Of America Corp. [BAC] stock is trading at $37.09, up 0.62%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The BAC shares have gain 2.94% over the last week, with a monthly amount glided 10.35%, and seem to be holding up well over a long-time horizon.
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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 $37.61 over the past year. Currently, Wall Street analysts expect the stock to reach $44.64 within the next 12 months. Bank Of America Corp. [NYSE: BAC] shares were valued at $37.09 at the most recent close of the market. An investor can expect a potential return of 20.36% 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. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.15.
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 36.85 points at the first support level, and at 36.61 for the second support level. However, for the 1st resistance point, the stock is sitting at 37.28, and for the 2nd resistance point, it is at 37.48.
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 1.66, the price to book ratio is 1.11 and price to earnings (TTM) ratio is 12.07.
Transactions by insiders
Recent insider trading involved BANK OF AMERICA CORP /DE/, 10% Owner, that happened on Dec 27 ’23 when 5398.0 shares were purchased. 10% Owner, BANK OF AMERICA CORP /DE/ completed a deal on Dec 15 ’23 to sell 900.0 shares. Meanwhile, 10% Owner BANK OF AMERICA CORP /DE/ bought 900.0 shares on Dec 13 ’23.
