Bank Of America Corp (NYSE:BAC) shares, rose in value, with the stock price down by -0.05% to the previous day’s close as strong demand from buyers drove the stock to $46.19.
Actively observing the price movement in the recent trading, the stock is buoying the session at $46.21, falling within a range of $46.095 and $46.565. The value of beta (5-year monthly) is 1.325 whereas the PE ratio is 14.35 over 12-month period. Referring to stock’s 52-week performance, its high was $48.08, and the low was $32.35. On the whole, BAC has fluctuated by 0.88% over the past month.
With the market capitalization of Bank Of America Corp currently standing at about $351.51 billion, investors are eagerly awaiting this quarter’s results, scheduled for in March. The company’s Forward Dividend Ratio is 1.00, with its dividend yield at 2.17%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 108.68B, with a low estimate of 26.46B and a high estimate of 27.49B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 26.91B.
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 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 0.97, with the price of BAC currently trading nearly -1.02% and 0.70% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.27, while the 7-day volatility ratio is showing 1.65% which for the 30-day chart, stands at 1.77%. Furthermore, Bank Of America Corp (BAC)’s beta value is 1.33, and its average true range (ATR) is 0.84.
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 -0.05% in today’s session so far, and over the past year, it grew by 37.37%%.
Data on historical trading for Bank Of America Corp (NYSE:BAC) indicates that the trading volumes over the past 10 days have averaged 30.18 and over the past 3 months, they’ve averaged 33.39 million. According to company’s latest data on outstanding shares, there are 7.61 billion shares outstanding.
Nearly 0.33% of Bank Of America Corp’s shares belong to company insiders and institutional investors own 74.15% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 73.99 million shares as on 2024-12-31, resulting in a short ratio of 2.38. According to the data, the short interest in Bank Of America Corp (BAC) stood at 112.00 of shares outstanding as of 2024-12-31; the number of short shares registered in 2024-11-29 reached 74.69 million. The stock has risen by 5.09% 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.
