At the time of writing, Bank Of America Corp. [BAC] stock is trading at $42.90, down -0.26%. An important factor to consider is whether the stock is rising or falling in short-term value. The BAC shares have gain 3.15% over the last week, with a monthly amount glided 7.28%, 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 July 09, 2024, when Piper Sandler upgraded its rating to a Neutral and also boosted its price target to $42 from $37. Previously, Seaport Research Partners upgraded its rating to Buy on July 02, 2024, and kept the price target unchanged to $48. On June 14, 2024, upgrade upgraded it’s rating to Outperform and revised its price target to $46 on the stock. Wolfe Research upgraded its rating to a Outperform but stick to its price target of $42 on April 19, 2024. UBS downgraded its rating to a Neutral and raised its price target to $40 on April 04, 2024. HSBC Securities downgraded its rating to Hold for this stock on March 28, 2024, and upped its price target to $39. In a note dated January 30, 2024, Morgan Stanley upgraded an Overweight rating on this stock and boosted its target price from $32 to $41.
For the past year, the stock price of Bank Of America Corp. fluctuated between $24.96 and $44.44. Currently, Wall Street analysts expect the stock to reach $48.69 within the next 12 months. Bank Of America Corp. [NYSE: BAC] shares were valued at $42.90 at the most recent close of the market. An investor can expect a potential return of 13.5% based on the average BAC price forecast.
Analyzing the BAC fundamentals
According to Bank Of America Corp. [NYSE:BAC], the company’s sales were 187.89B for trailing twelve months, which represents an 10.50% jump. Gross Profit Margin for this corporation currently stands at 0.78% with Operating Profit Margin at 0.52%, Pretax Profit Margin comes in at 0.22%, 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 0.08 and Total Capital is 0.03. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of2.38.
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 42.54 points at the first support level, and at 42.18 for the second support level. However, for the 1st resistance point, the stock is sitting at 43.41, and for the 2nd resistance point, it is at 43.92.
Ratios To Look Out For
It is important to note that Bank Of America Corp. [NYSE:BAC] has a current ratio of 1.03. Considering the valuation of this stock, the price to sales ratio is 1.79, the price to book ratio is 1.25 and price to earnings (TTM) ratio is 15.07.
Transactions by insiders
Recent insider trading involved BERKSHIRE HATHAWAY INC, 10% Owner, that happened on Jul 19 ’24 when 12.29 million shares were sold. 10% Owner, BERKSHIRE HATHAWAY INC completed a deal on Jul 18 ’24 to sell 8.91 million shares. Meanwhile, 10% Owner BERKSHIRE HATHAWAY INC sold 12.69 million shares on Jul 17 ’24.
