In yesterday’s Wall Street session, Bank Of America Corp (NYSE:BAC) shares traded at $41.33, down -1.03% from the previous session.
BAC stock price is now 1.94% away from the 50-day moving average and 7.67% away from the 200-day moving average. The market capitalization of the company currently stands at $316.67B.
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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, BANK OF AMERICA CORP /DE/, 10% Owner sold 102,185 shares of the company’s stock on Oct 28 ’24. The stock was sold for $256,484 at an average price of $2.51. Upon completion of the transaction, the 10% Owner now directly owns 2 shares in the company, valued at $82.66. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 15 ’24, 10% Owner BERKSHIRE HATHAWAY INC sold 8,694,538 shares of the business’s stock. A total of $369,928,036 was realized by selling the stock at an average price of $42.55. This leaves the insider owning 766,305,462 shares of the company worth $31.67 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 $26.59 and a high of $44.44. According to the stock market information, the enterprise value for the company is $313593102336, which is based on a 15.02 price-to-earnings ratio, a 1.87 price-to-earnings-growth ratio, and a beta of 1.32. The fifty day moving average price for BAC is $40.513 and a two-hundred day moving average price translates $38.3413 for the stock.
The latest earnings results from Bank Of America Corp (NYSE: BAC) was released for 2024-09-30. The net profit margin was 11.22% and return on equity was 8.09% for BAC. The company reported revenue of $37.49 billion for the quarter, compared to $33.62 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.5 percent.
