Timing, Fundamentals, and Diversification of Bank of America Corporation (BAC)

Bank of America Corporation (NYSE: BAC) closed the day trading at 34.17 down -1.50% from the previous closing price of $34.69. In other words, the price has decreased by $-0.52 from its previous closing price. On the day, 33421529 shares were traded. BAC reached its highest trading level at $34.78 during the session, while it also had its lowest trading level at $33.88.

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Ratios:

For a better understanding of BAC, let’s look at its different ratios. In the meantime, Its Debt-to-Equity ratio is 2.11 whereas as Long-Term Debt/Eq ratio is at 1.12.

Upgrades & Downgrades

On March 28, 2022, Morgan Stanley Upgraded its rating to Equal-Weight which previously was Underweight and also lowered its target price recommendation from $51 to $49.

Robert W. Baird Upgraded its Underperform to Neutral on March 08, 2022, while the target price for the stock was maintained at $42.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Jan 28 when Sieg Andrew M. sold 18,407 shares for $45.12 per share. The transaction valued at 830,524 led to the insider holds 281,405 shares of the business.

BRAMBLE FRANK P sold 2,200 shares of BAC for $106,091 on Nov 02. The Director now owns 36,817 shares after completing the transaction at $48.22 per share. On Nov 02, another insider, BRAMBLE FRANK P, who serves as the Director of the company, sold 2,200 shares for $48.22 each. As a result, the insider received 106,093 and left with 43,400 shares of the company.

Valuation Measures:

As of this moment, Bank’s Price-to-Earnings (P/E) ratio for their current fiscal year is 10.64, and their Forward P/E ratio for the next fiscal year is 9.12. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.53. For the stock, the TTM Price-to-Sale (P/S) ratio is 5.26 while its Price-to-Book (P/B) ratio in mrq is 1.16.

Stock Price History:

Over the past 52 weeks, BAC has reached a high of $50.11, while it has fallen to a 52-week low of $29.67. The 50-Day Moving Average of the stock is 34.00, while the 200-Day Moving Average is calculated to be 39.02.

Shares Statistics:

Over the past 3-months, BAC traded about 39.70M shares per day on average, while over the past 10 days, BAC traded about 38.84M shares per day. A total of 8.12B shares are outstanding, with a floating share count of 8.02B. Insiders hold about 0.14% of the company’s shares, while institutions hold 70.80% stake in the company. Shares short for BAC as of Jul 14, 2022 were 70.11M with a Short Ratio of 1.75, compared to 76.82M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 0.87% and a Short% of Float of 1.00%.

Dividends & Splits

BAC’s forward annual dividend rate is 0.88, up from 0.72 a year ago. Against a Trailing Annual Dividend Yield of 2.08%, it implies a Forward Annual Dividend Yield of 2.60%. The stock’s 5-year Average Dividend Yield is 2.00. The current Payout Ratio is 26.00% for BAC, which recently paid a dividend on Sep 29, 2022 with an ex-dividend date of Aug 31, 2022. Stock splits for the company last occurred on Aug 29, 2004 when the company split stock in a 2:1 ratio.

Earnings Estimates

Current recommendations for the stock of the company come from 18 analysts. On average, analysts expect EPS of $0.8 for the current quarter, with a high estimate of $0.87 and a low estimate of $0.72, while EPS last year was $0.85. The consensus estimate for the next quarter is $0.86, with high estimates of $0.93 and low estimates of $0.8.

Analysts are recommending an EPS of between $3.41 and $3.05 for the fiscal current year, implying an average EPS of $3.2. EPS for the following year is $3.76, with 20 analysts recommending between $4.2 and $2.57.

Revenue Estimates

A total of 10 analysts have provided revenue estimates for BAC’s current fiscal year. The highest revenue estimate was $94.32B, while the lowest revenue estimate was $92.74B, resulting in an average revenue estimate of $93.49B. In the same quarter a year ago, actual revenue was $89.54B, up 4.40% from the average estimate. Based on 10 analysts’ estimates, the company’s revenue will be $103.39B in the next fiscal year. The high estimate is $105.02B and the low estimate is $100.56B. The average revenue growth estimate for next year is up 10.60% from the average revenue estimate for this year.