Bank Of America Corp. [BAC] stock is trading at $36.97, up 3.35%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The BAC shares have gain 3.30% over the last week, with a monthly amount glided 0.60%, 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 April 19, 2024, when Wolfe Research upgraded its rating to a Outperform but kept the price target unchanged to $42 for it. Previously, UBS downgraded its rating to Neutral on April 04, 2024, and elevated its price target to $40. On March 28, 2024, downgrade downgraded it’s rating to Hold and revised its price target to $39 on the stock. Morgan Stanley upgraded its rating to a Overweight and increased its price target to $41 on January 30, 2024. Odeon downgraded its rating to a Hold. Odeon upgraded its rating to Buy for this stock on December 14, 2023. In a note dated November 06, 2023, Keefe Bruyette upgraded an Mkt Perform rating on this stock and boosted its target price from $29 to $30.
Bank Of America Corp. [BAC] stock has fluctuated between $24.96 and $38.35 over the past year. Currently, Wall Street analysts expect the stock to reach $44.02 within the next 12 months. Bank Of America Corp. [NYSE: BAC] shares were valued at $36.97 at the most recent close of the market. An investor can expect a potential return of 19.07% based on the average BAC price forecast.
Analyzing the BAC fundamentals
Bank Of America Corp. [NYSE:BAC] reported sales of 181.97B for the trailing twelve months, which represents a growth of 14.28%. Gross Profit Margin for this corporation currently stands at 0.9% with Operating Profit Margin at 0.53%, Pretax Profit Margin comes in at 0.23%, and Net Profit Margin reading is 0.21%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.09 and Total Capital is 0.03. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 2.27.
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 36.31 points at the first support level, and at 35.66 for the second support level. However, for the 1st resistance point, the stock is sitting at 37.37, and for the 2nd resistance point, it is at 37.78.
Ratios To Look Out For
For context, Bank Of America Corp.’s Current Ratio is 1.02. Considering the valuation of this stock, the price to sales ratio is 1.60, the price to book ratio is 1.10 and price to earnings (TTM) ratio is 12.79.
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.
