The price of Bank Of America Corp. (NYSE:BAC) shares last traded on Wall Street fell -1.40% to $42.30.
BAC stock price is now 5.78% away from the 50-day moving average and 22.59% away from the 200-day moving average. The market capitalization of the company currently stands at $330.80B.
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With the price target enhanced from $37 to $42, Piper Sandler Upgraded its rating from Underweight to Neutral for Bank Of America Corp. (NYSE: BAC). On July 02, 2024, Seaport Research Partners Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $48, while ‘Keefe Bruyette’ rates the stock as ‘Outperform’
In other news, BERKSHIRE HATHAWAY INC, 10% Owner sold 12,291,807 shares of the company’s stock on Jul 19 ’24. The stock was sold for $530,116,136 at an average price of $43.13. Upon completion of the transaction, the 10% Owner now directly owns 998,961,079 shares in the company, valued at $42.26 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 18 ’24, 10% Owner BERKSHIRE HATHAWAY INC sold 8,908,427 shares of the business’s stock. A total of $387,030,278 was realized by selling the stock at an average price of $43.45. This leaves the insider owning 1,011,252,886 shares of the company worth $42.78 billion. 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 $44.44. According to the stock market information, the enterprise value for the company is $85762072576, which is based on a 14.86 price-to-earnings ratio, a 1.62 price-to-earnings-growth ratio, and a beta of 1.35. The fifty day moving average price for BAC is $40.0818 and a two-hundred day moving average price translates $34.58845 for the stock.
The latest earnings results from Bank Of America Corp. (NYSE: BAC) was released for 2024-06-30. The net profit margin was 12.15% and return on equity was 8.49% for BAC. The company reported revenue of $36.85 billion for the quarter, compared to $32.35 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.91 percent.
