Bank Of America Corp (NYSE:BAC) shares, rose in value, with the stock price down by -1.16% to the previous day’s close as strong demand from buyers drove the stock to $41.82.
Actively observing the price movement in the last trading, the stock closed the session at $42.31, falling within a range of $41.8 and $42.545. The value of beta (5-year monthly) was 1.338 whereas the PE ratio was 15.20 over 12-month period. Referring to stock’s 52-week performance, its high was $44.44, and the low was $25.72. On the whole, BAC has fluctuated by 6.60% over the past month.
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With the market capitalization of Bank Of America Corp currently standing at about $320.88 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December. The company’s Forward Dividend Ratio is 0.98, with its dividend yield at 2.34%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 102.24B, with a low estimate of 24.91B and a high estimate of 25.76B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 25.2B.
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 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% 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 1.89, with the price of BAC currently trading nearly 0.28% and 3.35% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 53.86, while the 7-day volatility ratio is showing 2.05% which for the 30-day chart, stands at 1.82%. Furthermore, Bank Of America Corp (BAC)’s beta value is 1.33, and its average true range (ATR) is 0.80.
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 -1.16% in last session, and over the past year, it grew by 58.77%%.
Data on historical trading for Bank Of America Corp (NYSE:BAC) indicates that the trading volumes over the past 10 days have averaged 29.18 and over the past 3 months, they’ve averaged 37.46 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 70.86% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 60.32 million shares as on 2024-10-15, resulting in a short ratio of 1.71. According to the data, the short interest in Bank Of America Corp (BAC) stood at 91.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 69.94 million. The stock has risen by 24.21% 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.
