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In the latest session, Bank Of America Corp. (NYSE: BAC) closed at $42.41 up 0.26% from its previous closing price of $42.30. In other words, the price has increased by $0.26 from its previous closing price. On the day, 36.68 million shares were traded. BAC stock price reached its highest trading level at $42.78 during the session, while it also had its lowest trading level at $42.15.
Ratios:
For a deeper understanding of Bank Of America Corp.’s stock, let’s take a closer look at its various ratios. In the meantime, Its Debt-to-Equity ratio is 2.38 whereas as Long-Term Debt/Eq ratio is at 0.99.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Piper Sandler on July 09, 2024, Upgraded its rating to Neutral and sets its target price to $42 from $37 previously.
On July 02, 2024, Seaport Research Partners Upgraded its rating to Buy which previously was Neutral but kept the price unchanged to $48.
Keefe Bruyette Upgraded its Mkt Perform to Outperform on June 14, 2024, whereas the target price for the stock was revised from $37 to $46.
Insider Transactions:
Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Jul 19 ’24 when BERKSHIRE HATHAWAY INC sold 12,291,807 shares for $43.13 per share. The transaction valued at 530,116,136 led to the insider holds 998,961,079 shares of the business.
BERKSHIRE HATHAWAY INC sold 8,908,427 shares of BAC for $387,030,278 on Jul 18 ’24. The 10% Owner now owns 1,011,252,886 shares after completing the transaction at $43.45 per share. On Jul 17 ’24, another insider, BERKSHIRE HATHAWAY INC, who serves as the 10% Owner of the company, sold 12,690,693 shares for $44.07 each. As a result, the insider received 559,252,190 and left with 1,020,161,313 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, BAC now has a Market Capitalization of 329727148032 and an Enterprise Value of 86617292800. As of this moment, Bank’s Price-to-Earnings (P/E) ratio for their current fiscal year is 14.90, and their Forward P/E ratio for the next fiscal year is 11.54. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.62. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.77 while its Price-to-Book (P/B) ratio in mrq is 1.23. Its current Enterprise Value per Revenue stands at 0.93.
Stock Price History:
The Beta on a monthly basis for BAC is 1.36, which has changed by 0.30854678 over the last 52 weeks, in comparison to a change of 0.21656322 over the same period for the S&P500. Over the past 52 weeks, BAC has reached a high of $44.44, while it has fallen to a 52-week low of $24.96. The 50-Day Moving Average of the stock is 5.81%, while the 200-Day Moving Average is calculated to be 22.61%.
Shares Statistics:
For the past three months, BAC has traded an average of 35.19M shares per day and 44131530 over the past ten days. A total of 7.90B shares are outstanding, with a floating share count of 7.81B. Insiders hold about 0.17% of the company’s shares, while institutions hold 72.74% stake in the company. Shares short for BAC as of 1719532800 were 67402548 with a Short Ratio of 1.92, compared to 1717113600 on 72308642. Therefore, it implies a Short% of Shares Outstanding of 67402548 and a Short% of Float of 0.9900000000000001.
Dividends & Splits
According to the company, the forward annual dividend rate for BAC is 0.96, from 0.96 in the trailing year. Against a Trailing Annual Dividend Yield of 0.022695035The stock’s 5-year Average Dividend Yield is 2.42. The current Payout Ratio is 29.90% for BAC, which recently paid a dividend on 2024-06-07 with an ex-dividend date of 1717718400. Stock splits for the company last occurred on 2004-08-30 when the company split stock in a 2:1 ratio.
