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.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Sponsored
Ratios:
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.
