Bank Of America Corp. (NYSE: BAC) Is Getting Increasingly Hard To Ignore

Currently, there are 7.91B common shares owned by the public and among those 7.90B shares have been available to trade.

Insiders at the company have transacted a total of 205 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 103 of these insider trades were purchases, accounting for 3,133,533 shares. Insider sales of the common stock occurred on 102 occasions, with total insider shares sold totaling 1,935,605 shares.

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The company’s stock has a 5-day price change of -1.20% and 18.57% over the past three months. BAC shares are trading -1.78% year to date (YTD), with the 12-month market performance down to -9.40% lower. It has a 12-month low price of $24.96 and touched a high of $36.35 over the same period. BAC has an average intraday trading volume of 0.85 shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.11%, 1.10%, and 11.55% respectively.

Institutional ownership of Bank Of America Corp. (NYSE: BAC) shares accounts for 70.86% of the company’s 7.91B shares outstanding.

It has a market capitalization of $261.71B and a beta (3y monthly) value of 1.39. The stock’s trailing 12-month PE ratio is 10.77, while the earnings-per-share (ttm) stands at $3.07. The company has a PEG of 0.44 and the debt-to-equity ratio at 2.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.48% over the week and 2.00% over the month.

Analysts forecast that Bank Of America Corp. (BAC) will achieve an EPS of $BTC for the current quarter, $98.97 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Bank of America Corporation while analysts give the company a high EPS estimate of $Lithium Americas Corp.. Comparatively, EPS for the current quarter was $Brookfield Asset Management Inc a year ago. Earnings per share for the fiscal year are expected to increase by 2.48%, and 8.85% over the next financial year. EPS should grow at an annualized rate of 24.37% over the next five years, compared to 3.38% over the past 5-year period.

Looking at the support for the BAC, a number of firms have released research notes about the stock. Morgan Stanley stated their Overweight rating for the stock in a research note on January 30, 2024, with the firm’s price target at $32-$41.

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