Before Investing In Bank Of America Corp. (NYSE:BAC), Here Are Some Things To Consider

Bank Of America Corp. (NYSE:BAC) shares traded 0.69% higher at $39.51 on Wall Street last session.

BAC stock price is now 3.49% away from the 50-day moving average and 19.56% away from the 200-day moving average. The market capitalization of the company currently stands at $308.98B.

Top 5 Artificial Intelligence Stocks to Buy for 2024

By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it. According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."

Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"

Sponsored

With the price target enhanced from $37 to $46, Keefe Bruyette Upgraded its rating from Mkt Perform to Outperform for Bank Of America Corp. (NYSE: BAC). On April 19, 2024, Wolfe Research Upgraded its previous ‘Peer Perform’ rating to ‘Outperform’ on the stock keeping its target price maintained at $42, while ‘UBS’ rates the stock as ‘Neutral’

In other news, BANK OF AMERICA CORP /DE/, 10% Owner sold 1,600 shares of the company’s stock on Jun 06 ’24. The stock was sold for $17,424 at an average price of $10.89. Upon completion of the transaction, the 10% Owner now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 27 ’23, 10% Owner BANK OF AMERICA CORP /DE/ bought 5,398 shares of the business’s stock. A total of $57,023 was incurred on buying the stock at an average price of $10.56. This leaves the insider owning 5,398 shares of the company worth $0.21 million. 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 $40.19. According to the stock market information, the enterprise value for the company is $233683828736, which is based on a 13.64 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 $38.2244 and a two-hundred day moving average price translates $33.09975 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.

Related Posts