Bank Of America Corp. (NYSE:BAC) shares traded 1.83% higher at $39.47 on Wall Street last session.
BAC stock price is now -1.92% away from the 50-day moving average and 7.72% away from the 200-day moving average. The market capitalization of the company currently stands at $306.27B.
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With the price target maintained at $45, Deutsche Bank recently Upgraded its rating from Hold to Buy for Bank Of America Corp. (NYSE: BAC). On July 09, 2024, Piper Sandler Upgraded its previous ‘Underweight’ rating to ‘Neutral’ on the stock increasing its target price from $37 to quote $42, while ‘Seaport Research Partners’ rates the stock as ‘Buy’
In other news, BERKSHIRE HATHAWAY INC, 10% Owner sold 8,031,639 shares of the company’s stock on Sep 03 ’24. The stock was sold for $326,562,426 at an average price of $40.66. Upon completion of the transaction, the 10% Owner now directly owns 874,692,264 shares in the company, valued at $34.52 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 04 ’24, 10% Owner BERKSHIRE HATHAWAY INC sold 5,683,651 shares of the business’s stock. A total of $230,806,815 was realized by selling the stock at an average price of $40.61. This leaves the insider owning 869,008,613 shares of the company worth $34.3 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 $243580518400, which is based on a 13.88 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 $40.2488 and a two-hundred day moving average price translates $36.68725 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.
