In yesterday’s Wall Street session, Bank Of America Corp. (NYSE:BAC) shares traded at $38.17, down -0.29% from the previous session.
BAC stock price is now -5.20% away from the 50-day moving average and 7.52% away from the 200-day moving average. The market capitalization of the company currently stands at $296.18B.
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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, Hans Lindsay D., Officer bought 10,901 shares of the company’s stock on Aug 05 ’24. The stock was bought for $402,410 at an average price of $36.91. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 05 ’24, 10% Owner BANK OF AMERICA CORP /DE/ bought 116 shares of the business’s stock. A total of $1,434 was incurred on buying the stock at an average price of $12.36. This leaves the insider owning 116 shares of the company worth $4427.72. 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 $44.44. According to the stock market information, the enterprise value for the company is $233493069824, which is based on a 13.42 price-to-earnings ratio, a 1.40 price-to-earnings-growth ratio, and a beta of 1.34. The fifty day moving average price for BAC is $40.2542 and a two-hundred day moving average price translates $35.56315 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 12.07% 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.
