Bank Of America Corp (NYSE:BAC) price on current trading day, rose 2.30% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $45.13.
A look at the stock’s price movement, the level at last check in today’s session was $44.12. The PE ratio in trailing twelve months stood at 14.04. Turning to its 52-week performance, $48.08 and $34.03 were the 52-week high and 52-week low respectively. Overall, BAC moved -3.45% over the past month.
Bank Of America Corp’s market cap currently stands at around $343.24 billion, with investors looking forward to this quarter’s earnings report slated for in March. The company has a Forward Dividend ratio of 1.00, with its dividend yield at 2.22%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Turning to the stock’s technical picture we see that short term indicators suggest on average that BAC is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
20 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 6 analyst(s) rate the stock as a Hold, 14 recommend BAC as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 0.94, with BAC’s current price about -1.74% and -1.06% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 45.68, while 7-day volatility ratio is 2.25% and 1.80% in the 30-day chart. Further, Bank Of America Corp (BAC) has a beta value of 1.33, and an average true range (ATR) of 0.92. Analysts have given the company’s stock an average 52-week price target of $46.5, forecast between a low of $44 and high of $54. Looking at the price targets, the low is 2.5% off recent price level in today’s trading while to achieve the yearly target high, it has to move -19.65%. Nonetheless, investors will most likely welcome a -3.04% jump to $46.5 which is the analysts’ median price.
If we refocus on Bank Of America Corp (NYSE:BAC), historical trading data shows that trading volumes averaged 33.37 million over the past 3 months. The company’s latest data on shares outstanding shows there are 7.61 billion shares.
The 0.19% of Bank Of America Corp’s shares are in the hands of company insiders while institutional holders own 74.78% of the company’s shares. Current price change has pushed the stock 2.70% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BAC stock continues to rise going into the next quarter.
