Currently, Bank Of America Corp [BAC] is trading at $46.75, up 1.85%. An important factor to consider is whether the stock is rising or falling in short-term value. The BAC shares have gain 3.59% over the last week, with a monthly amount glided 9.74%, 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 November 08, 2024, when Citigroup upgraded its rating to a Buy and also boosted its price target to $54 from $46. Previously, Deutsche Bank upgraded its rating to Buy on September 03, 2024, and kept the price target unchanged to $45. On July 09, 2024, upgrade upgraded it’s rating to Neutral and revised its price target to $42 on the stock. Seaport Research Partners upgraded its rating to a Buy but stick to its price target of $48 on July 02, 2024. Keefe Bruyette upgraded its rating to a Outperform and raised its price target to $46 on June 14, 2024. Wolfe Research upgraded its rating to Outperform for this stock on April 19, 2024, but kept the price target unchanged to $42. In a note dated April 04, 2024, UBS downgraded an Neutral rating on this stock and boosted its target price from $39 to $40.
This stock has fluctuated between a low of $29.20 and a high of $46.52 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $48.63 within the next 12 months. Bank Of America Corp [NYSE: BAC] shares were valued at $46.75 at the most recent close of the market. An investor can expect a potential return of 4.02% based on the average BAC price forecast.
Analyzing the BAC fundamentals
Trailing Twelve Months sales for Bank Of America Corp [NYSE:BAC] were 195.55B which represents 14.11% growth. Gross Profit Margin for this corporation currently stands at -0.02% with Operating Profit Margin at 0.3%, Pretax Profit Margin comes in at 0.31%, and Net Profit Margin reading is 0.29%. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.13.
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 45.97 points at the first support level, and at 45.18 for the second support level. However, for the 1st resistance point, the stock is sitting at 47.19, and for the 2nd resistance point, it is at 47.62.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Bank Of America Corp [NYSE:BAC] is 1.02. Considering the valuation of this stock, the price to sales ratio is 1.87, the price to book ratio is 1.32 and price to earnings (TTM) ratio is 16.99.
Transactions by insiders
Recent insider trading involved BANK OF AMERICA CORP /DE/, 10% Owner, that happened on Oct 28 ’24 when 0.1 million shares were sold. 10% Owner, BERKSHIRE HATHAWAY INC completed a deal on Oct 15 ’24 to sell 8.69 million shares. Meanwhile, 10% Owner BERKSHIRE HATHAWAY INC sold 4.0 million shares on Oct 09 ’24.
