Bank Of America Corp. (NYSE:BAC) shares, rose in value, with the stock price up by 0.65% to the previous day’s close as strong demand from buyers drove the stock to $40.19.
Actively observing the price movement in the last trading, the stock closed the session at $39.93, falling within a range of $39.7244 and $40.385. The value of beta (5-year monthly) was 1.338 whereas the PE ratio was 14.13 over 12-month period. Referring to stock’s 52-week performance, its high was $44.44, and the low was $24.96. On the whole, BAC has fluctuated by 2.32% over the past month.
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With the market capitalization of Bank Of America Corp. currently standing at about $311.86 billion, investors are eagerly awaiting this quarter’s results, scheduled for in November. The company’s Forward Dividend Ratio is 0.98, with its dividend yield at 2.44%.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that BAC’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.45, with the price of BAC currently trading nearly 1.50% and 2.27% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 56.10, while the 7-day volatility ratio is showing 1.47% which for the 30-day chart, stands at 1.65%. Furthermore, Bank Of America Corp. (BAC)’s beta value is 1.33, and its average true range (ATR) is 0.73.
A comparison of Bank Of America Corp. (BAC) with its peers suggests the former has fared considerably weaker in the market. BAC showed an intraday change of 0.65% in last session, and over the past year, it grew by 52.76%%.
Data on historical trading for Bank Of America Corp. (NYSE:BAC) indicates that the trading volumes over the past 10 days have averaged 29.29 and over the past 3 months, they’ve averaged 39.85 million. According to company’s latest data on outstanding shares, there are 7.90 billion shares outstanding.
Nearly 0.17% of Bank Of America Corp.’s shares belong to company insiders and institutional investors own 70.47% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 69.94 million shares as on 2024-09-13, resulting in a short ratio of 1.84. According to the data, the short interest in Bank Of America Corp. (BAC) stood at 104.00 of shares outstanding as of 2024-09-13; the number of short shares registered in 2024-08-15 reached 62.67 million. The stock has risen by 19.36% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BAC stock heading into the next quarter.
