In yesterday’s Wall Street session, Bank Of America Corp. (NYSE:BAC) shares traded at $39.32, down -0.96% from the previous session.
BAC stock price is now 4.89% away from the 50-day moving average and 21.56% away from the 200-day moving average. The market capitalization of the company currently stands at $307.50B.
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With the price target maintained at $42, Wolfe Research recently Upgraded its rating from Peer Perform to Outperform for Bank Of America Corp. (NYSE: BAC). On April 04, 2024, UBS Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock increasing its target price from $39 to quote $40, while ‘HSBC Securities’ rates the stock as ‘Hold’
In other news, BANK OF AMERICA CORP /DE/, 10% Owner bought 5,398 shares of the company’s stock on Dec 27 ’23. The stock was bought for $57,023 at an average price of $10.56. Upon completion of the transaction, the 10% Owner now directly owns 5,398 shares in the company, valued at $0.21 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 15 ’23, 10% Owner BANK OF AMERICA CORP /DE/ sold 900 shares of the business’s stock. A total of $8,748 was realized by selling the stock at an average price of $9.72. A total of 0.17% of the company’s stock is owned by insiders.
During the past 12 months, Bank Of America Corp. has had a low of $24.96 and a high of $39.84. According to the stock market information, the enterprise value for the company is $232197963776, which is based on a 13.58 price-to-earnings ratio, a 0.56 price-to-earnings-growth ratio, and a beta of 1.36. The fifty day moving average price for BAC is $37.4868 and a two-hundred day moving average price translates $32.34625 for the stock.
The latest earnings results from Bank Of America Corp. (NYSE: BAC) was released for 2024-03-31. The net profit margin was 12.74% and return on equity was 8.72% for BAC. The company reported revenue of $36.28 billion for the quarter, compared to $28.66 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 26.63 percent.
