Bank Of America Corp (NYSE:BAC) shares, rose in value on Thursday, November 21, with the stock price up by 1.51% to the previous day’s close as strong demand from buyers drove the stock to $46.76.
Actively observing the price movement in the recent trading, the stock is buoying the session at $46.06, falling within a range of $46.3 and $46.89. The value of beta (5-year monthly) is 1.325 whereas the PE ratio is 17.00 over 12-month period. Referring to stock’s 52-week performance, its high was $47.02, and the low was $29.32. On the whole, BAC has fluctuated by 10.43% over the past month.
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With the market capitalization of Bank Of America Corp currently standing at about $358.76 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 2.10%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 102.02B, with a low estimate of 25B and a high estimate of 25.71B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 25.22B.
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 2.11, with the price of BAC currently trading nearly 5.33% and 11.13% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 69.87, while the 7-day volatility ratio is showing 1.56% which for the 30-day chart, stands at 1.78%. Furthermore, Bank Of America Corp (BAC)’s beta value is 1.33, and its average true range (ATR) is 0.88.
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 1.51% in today’s session so far, and over the past year, it grew by 57.64%%.
Data on historical trading for Bank Of America Corp (NYSE:BAC) indicates that the trading volumes over the past 10 days have averaged 37.02 and over the past 3 months, they’ve averaged 37.04 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 73.10% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 63.84 million shares as on 2024-10-31, resulting in a short ratio of 2.02. According to the data, the short interest in Bank Of America Corp (BAC) stood at 96.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 67.38 million. The stock has risen by 38.87% 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.
