In yesterday’s Wall Street session, Bank Of America Corp (NYSE:BAC) shares traded at $45.91, down -1.80% from the previous session.
BAC stock price is now 5.04% away from the 50-day moving average and 14.99% away from the 200-day moving average. The market capitalization of the company currently stands at $350.39B.
With the price target enhanced from $48 to $55, Morgan Stanley Downgraded its rating from Overweight to Equal-Weight for Bank Of America Corp (NYSE: BAC). On November 08, 2024, Citigroup Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $46 to quote $54, while ‘Deutsche Bank’ rates the stock as ‘Buy’
In other news, BANK OF AMERICA CORP /DE/, 10% Owner bought 75 shares of the company’s stock on Dec 03 ’24. The stock was bought for $976 at an average price of $13.02. Upon completion of the transaction, the 10% Owner now directly owns 75 shares in the company, valued at $3443.25. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 03 ’24, 10% Owner BANK OF AMERICA CORP /DE/ sold 75 shares of the business’s stock. A total of $977 was realized by selling the stock at an average price of $13.03. A total of 0.17% of the company’s stock is owned by insiders.
During the past 12 months, Bank Of America Corp has had a low of $30.45 and a high of $48.08. According to the stock market information, the enterprise value for the company is $348734914560, which is based on a 16.69 price-to-earnings ratio, a 2.08 price-to-earnings-growth ratio, and a beta of 1.34. The fifty day moving average price for BAC is $43.5756 and a two-hundred day moving average price translates $39.8665 for the stock.
The latest earnings results from Bank Of America Corp (NYSE: BAC) was released for 2024-09-30. The net profit margin was 11.22% and return on equity was 8.09% for BAC. The company reported revenue of $37.49 billion for the quarter, compared to $33.62 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.5 percent.
