Bank Of America Corp (NYSE:BAC) shares, rose in value, with the stock price down by -0.89% to the previous day’s close as strong demand from buyers drove the stock to $42.29.
Actively observing the price movement in the last trading, the stock closed the session at $42.67. The PE ratio was 13.16 over 12-month period. Referring to stock’s 52-week performance, its high was $48.08, and the low was $34.15. On the whole, BAC has fluctuated by -8.48% over the past month.
With the market capitalization of Bank Of America Corp currently standing at about $321.60 billion, investors are eagerly awaiting this quarter’s results, scheduled for in April. The company’s Forward Dividend Ratio is 0.76, with its dividend yield at 1.80%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 108.71B, 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 Hold 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 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0.88, with the price of BAC currently trading nearly -7.15% and -7.20% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.77, while the 7-day volatility ratio is showing 3.89% which for the 30-day chart, stands at 2.26%. Furthermore, Bank Of America Corp (BAC)’s beta value is 1.25, and its average true range (ATR) is 1.21.
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 -0.89% in last session, and over the past year, it grew by 23.12%%. In comparison, JPMorgan Chase & Co. (JPM) has moved higher at 0.51%% on the day and was up 32.71% over the past 12 months. Additionally, there is a gain of 2.26%% for Royal Bank of Canada (RY) in last trading while the stock has seen an overall depriciation of 17.20%% over the past year.
Data on historical trading for Bank Of America Corp (NYSE:BAC) indicates that the trading volumes over the past 3 months, they’ve averaged 35.05 million. According to company’s latest data on outstanding shares, there are 7.61 billion shares outstanding.
Nearly 0.19% of Bank Of America Corp’s shares belong to company insiders and institutional investors own 74.85% of the company’s shares. The stock has fallen by -3.78% 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.
