The price of Bank Of America Corp. (NYSE:BAC) shares last traded on Wall Street rose 0.84% to $39.67.
BAC stock price is now -1.26% away from the 50-day moving average and 10.72% away from the 200-day moving average. The market capitalization of the company currently stands at $307.82B.
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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 5,183,829 shares of the company’s stock on Aug 15 ’24. The stock was sold for $203,770,097 at an average price of $39.31. Upon completion of the transaction, the 10% Owner now directly owns 937,246,053 shares in the company, valued at $37.18 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 19 ’24, 10% Owner BERKSHIRE HATHAWAY INC sold 5,035,018 shares of the business’s stock. A total of $199,615,303 was realized by selling the stock at an average price of $39.65. This leaves the insider owning 928,460,939 shares of the company worth $36.83 billion. A total of 0.25% 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 $245132443648, which is based on a 13.95 price-to-earnings ratio, a 1.45 price-to-earnings-growth ratio, and a beta of 1.34. The fifty day moving average price for BAC is $40.1762 and a two-hundred day moving average price translates $35.89535 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.
