A share price of Bank Of America Corp. [BAC] is currently trading at $39.51, up 0.69%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The BAC shares have lost -0.40% over the last week, with a monthly amount glided 0.74%, 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 June 14, 2024, when Keefe Bruyette upgraded its rating to a Outperform and also boosted its price target to $46 from $37. Previously, Wolfe Research upgraded its rating to Outperform on April 19, 2024, and kept the price target unchanged to $42. On April 04, 2024, downgrade downgraded it’s rating to Neutral and revised its price target to $40 on the stock. HSBC Securities downgraded its rating to a Hold and increased its price target to $39 on March 28, 2024. Morgan Stanley upgraded its rating to a Overweight and raised its price target to $41 on January 30, 2024. Odeon downgraded its rating to Hold for this stock on January 16, 2024. In a note dated December 14, 2023, Odeon upgraded an Buy rating on this stock.
Bank Of America Corp. experienced fluctuations in its stock price throughout the past year between $24.96 and $40.19. Currently, Wall Street analysts expect the stock to reach $45.11 within the next 12 months. Bank Of America Corp. [NYSE: BAC] shares were valued at $39.51 at the most recent close of the market. An investor can expect a potential return of 14.17% based on the average BAC price forecast.
Analyzing the BAC fundamentals
Trailing Twelve Months sales for Bank Of America Corp. [NYSE:BAC] were 183.28B which represents 17.41% growth. Gross Profit Margin for this corporation currently stands at 0.78% with Operating Profit Margin at 0.23%, 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 0.01. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of2.27.
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 39.15 points at the first support level, and at 38.79 for the second support level. However, for the 1st resistance point, the stock is sitting at 39.70, and for the 2nd resistance point, it is at 39.89.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Bank Of America Corp. [NYSE:BAC] is 1.00. Considering the valuation of this stock, the price to sales ratio is 1.69, the price to book ratio is 1.17 and price to earnings (TTM) ratio is 13.64.
Transactions by insiders
Recent insider trading involved BANK OF AMERICA CORP /DE/, 10% Owner, that happened on Jun 06 ’24 when 1600.0 shares were sold. 10% Owner, BANK OF AMERICA CORP /DE/ completed a deal on Dec 27 ’23 to buy 5398.0 shares. Meanwhile, 10% Owner BANK OF AMERICA CORP /DE/ sold 900.0 shares on Dec 15 ’23.
