It’s a good day to be an Bank of America Corporation (BAC) shareholder

As of close of business last night, Bank of America Corporation’s stock clocked out at $28.97, up 1.68% from its previous closing price of $28.49. In other words, the price has increased by $+0.48 from its previous closing price. On the day, 108144414 shares were traded. BAC stock price reached its highest trading level at $29.47 during the session, while it also had its lowest trading level at $28.11.

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To gain a deeper understanding of BAC’s stock, we examine its different ratios. In the meantime, Its Debt-to-Equity ratio is 2.03 whereas as Long-Term Debt/Eq ratio is at 1.06.

Upgrades & Downgrades

On February 09, 2023, Keefe Bruyette Downgraded its rating to Underperform which previously was Mkt Perform and also lowered its target price recommendation from $35 to $33.

Atlantic Equities Downgraded its Overweight to Neutral on January 31, 2023, while the target price for the stock was maintained at $40.

Insider Transactions:

Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Feb 23 when Koder Matthew M sold 105,054 shares for $34.27 per share. The transaction valued at 3,600,411 led to the insider holds 319,803 shares of the business.

Koder Matthew M sold 214,745 shares of BAC for $7,712,137 on Feb 02. The Pres, Gl Corp & Invest Banking now owns 214,747 shares after completing the transaction at $35.91 per share. On Nov 16, another insider, BANK OF AMERICA CORP /DE/, who serves as the Former 10% Owner of the company, sold 155 shares for $47500.00 each. As a result, the insider received 7,362,500 and left with 0 shares of the company.

Valuation Measures:

As of this moment, Bank’s Price-to-Earnings (P/E) ratio for their current fiscal year is 9.10, and their Forward P/E ratio for the next fiscal year is 7.87. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 2.71. For the stock, the TTM Price-to-Sale (P/S) ratio is 3.22 while its Price-to-Book (P/B) ratio in mrq is 0.96.

Stock Price History:

Over the past 52 weeks, BAC has reached a high of $44.63, while it has fallen to a 52-week low of $27.68. The 50-Day Moving Average of the stock is 34.19, while the 200-Day Moving Average is calculated to be 33.98.

Shares Statistics:

It appears that BAC traded 46.23M shares on average per day over the past three months and 99.47M shares per day over the past ten days. A total of 8.09B shares are outstanding, with a floating share count of 7.99B. Insiders hold about 0.11% of the company’s shares, while institutions hold 71.00% stake in the company. Shares short for BAC as of Jan 12, 2023 were 45.28M with a Short Ratio of 54.02M, compared to 51.95M on Dec 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 0.57% and a Short% of Float of 0.65%.

Dividends & Splits

With its trailing 12-month dividend rate of 0.72, BAC has a forward annual dividend rate of 0.88. Against a Trailing Annual Dividend Yield of 2.53%, it implies a Forward Annual Dividend Yield of 2.41%. The stock’s 5-year Average Dividend Yield is 2.12. The current Payout Ratio is 26.80% for BAC, which recently paid a dividend on Mar 30, 2023 with an ex-dividend date of Mar 01, 2023. Stock splits for the company last occurred on Aug 29, 2004 when the company split stock in a 2:1 ratio.

Earnings Estimates

As of right now, 18 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of $0.84 for the current quarter, with a high estimate of $0.96 and a low estimate of $0.73, while EPS last year was $0.8. The consensus estimate for the next quarter is $0.87, with high estimates of $0.95 and low estimates of $0.79.

Analysts are recommending an EPS of between $3.85 and $3 for the fiscal current year, implying an average EPS of $3.43. EPS for the following year is $3.7, with 23 analysts recommending between $4.25 and $2.96.

Revenue Estimates

In the current quarter, 7 analysts expect revenue to total $25.61B. It ranges from a high estimate of $26.63B to a low estimate of $24.89B. As of the current estimate, Bank of America Corporation’s year-ago sales were $23.33B, an estimated increase of 9.80% from the year-ago figure. For the next quarter, 7 analysts are estimating revenue of $25.48B, an increase of 11.80% over than the figure of $9.80% in the same quarter last year. There is a high estimate of $26B for the next quarter, whereas the lowest estimate is $24.78B.

A total of 10 analysts have provided revenue estimates for BAC’s current fiscal year. The highest revenue estimate was $105.27B, while the lowest revenue estimate was $99.14B, resulting in an average revenue estimate of $101.5B. In the same quarter a year ago, actual revenue was $95.39B, up 6.40% from the average estimate. Based on 10 analysts’ estimates, the company’s revenue will be $103.52B in the next fiscal year. The high estimate is $110.63B and the low estimate is $98.87B. The average revenue growth estimate for next year is up 2.00% from the average revenue estimate for this year.