In yesterday’s Wall Street session, Bank Of America Corp. (NYSE:BAC) shares traded at $37.52, down -1.05% from the previous session.
BAC stock price is now 8.62% away from the 50-day moving average and 21.74% away from the 200-day moving average. The market capitalization of the company currently stands at $295.38B.
With the price target enhanced from $38 to $39, HSBC Securities Downgraded its rating from Buy to Hold for Bank Of America Corp. (NYSE: BAC). On January 30, 2024, Morgan Stanley Upgraded its previous ‘Equal-Weight’ rating to ‘Overweight’ on the stock increasing its target price from $32 to quote $41, while ‘Odeon’ rates the stock as ‘Hold’
In other news, BANK OF AMERICA CORP /DE/, 10% Owner bought 5,398 shares of the company’s stock on Dec 27 ’23. The stock was bought for $57,023 at an average price of $10.56. Upon completion of the transaction, the 10% Owner now directly owns 5,398 shares in the company, valued at $0.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 15 ’23, 10% Owner BANK OF AMERICA CORP /DE/ sold 900 shares of the business’s stock. A total of $8,748 was realized by selling the stock at an average price of $9.72. A total of 0.18% of the company’s stock is owned by insiders.
During the past 12 months, Bank Of America Corp. has had a low of $24.96 and a high of $38.00. The fifty day moving average price for BAC is $34.80 and a two-hundred day moving average price translates $31.02 for the stock.
The latest earnings results from Bank Of America Corp. (NYSE: BAC) was released for Dec, 2023. According to the Banks – Diversified Company, earnings per share came in at $0.7, beating analysts’ expectations of $0.68 by 0.02. This compares to $0.85 EPS in the same period last year. The net profit margin was 14.13% and return on equity was 9.39% for BAC. The company reported revenue of $35.63 billion for the quarter, compared to $25.07 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 42.09 percent. For the current quarter, analysts expect BAC to generate $25.36B in revenue.
