Bank Of America Corp. [BAC] stock prices are up 3.15% to $40.87 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The BAC shares have gain 5.39% over the last week, with a monthly amount glided 5.63%, 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 September 03, 2024, when Deutsche Bank upgraded its rating to a Buy but kept the price target unchanged to $45 for it. Previously, Piper Sandler upgraded its rating to Neutral on July 09, 2024, and elevated its price target to $42. On July 02, 2024, upgrade upgraded it’s rating to Buy but maintained its price target of $48 on the stock. Keefe Bruyette upgraded its rating to a Outperform and increased its price target to $46 on June 14, 2024. Wolfe Research upgraded its rating to a Outperform but $42 remained the price target by the analyst firm on April 19, 2024. UBS downgraded its rating to Neutral for this stock on April 04, 2024, and upped its price target to $40. In a note dated March 28, 2024, HSBC Securities downgraded an Hold rating on this stock and boosted its target price from $38 to $39.
The stock price of Bank Of America Corp. [BAC] has been fluctuating between $24.96 and $44.44 over the past year. Currently, Wall Street analysts expect the stock to reach $48.25 within the next 12 months. Bank Of America Corp. [NYSE: BAC] shares were valued at $40.87 at the most recent close of the market. An investor can expect a potential return of 18.06% based on the average BAC price forecast.
Analyzing the BAC fundamentals
The Bank Of America Corp. [NYSE:BAC] reported sales of 189.16B for trailing twelve months, representing a surge of 13.38%. Gross Profit Margin for this corporation currently stands at 0.68% with Operating Profit Margin at 0.22%, Pretax Profit Margin comes in at 0.22%, and Net Profit Margin reading is 0.2%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.08 and Total Capital is 0.01. 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 40.24 points at the first support level, and at 39.61 for the second support level. However, for the 1st resistance point, the stock is sitting at 41.27, and for the 2nd resistance point, it is at 41.68.
Ratios To Look Out For
It’s worth pointing out that Bank Of America Corp. [NYSE:BAC]’s Current Ratio is 1.02. Considering the valuation of this stock, the price to sales ratio is 1.68, the price to book ratio is 1.19 and price to earnings (TTM) ratio is 14.37.
Transactions by insiders
Recent insider trading involved BERKSHIRE HATHAWAY INC, 10% Owner, that happened on Sep 19 ’24 when 11.42 million shares were sold. 10% Owner, BERKSHIRE HATHAWAY INC completed a deal on Sep 18 ’24 to sell 6.88 million shares. Meanwhile, 10% Owner BERKSHIRE HATHAWAY INC sold 3.97 million shares on Sep 17 ’24.
