Bank Of America Corp. (NYSE:BAC) price closed lower on Friday, April 12, dropping -1.54% below its previous close.
A look at the daily price movement shows that the last close reads $36.35. The company’s 5Y monthly beta was ticking 1.39 while its P/E ratio in the trailing 12-month period read 11.64. Taking into account the 52-week price action we note that the stock hit a 52-week high of $38.35 and 52-week low of $24.96. The stock subtracted -0.80% on its value in the past month.
Bank Of America Corp., which has a market valuation of $281.76 billion, is expected to release its quarterly earnings report Apr 16, 2024. The company stock has a Forward Dividend ratio of 0.94, while the dividend yield is 2.63%. It is understandable that investor optimism is growing ahead of the company’s current quarter results.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give BAC a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.
If we dive deeper into the stock’s performance we see the positive picture represented by the PEG ratio, currently standing at 0.48. The overview shows that BAC’s price is at present -3.09% off the SMA20 and 1.44% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 43.61, with weekly volatility standing at 1.62%. The indicator jumps to 1.83% when calculated based on the past 30 days. Bank Of America Corp. (NYSE:BAC)’s beta value is holding at 1.39, while the average true range (ATR) indicator is currently reading 0.72. An analysis of the Bank Of America Corp. (NYSE:BAC) stock in terms of its daily trading volume indicates that the 3-month average is 40.11 million.
Current records show that the company has 7.90B in outstanding shares. The insiders’ percentage holdings are 0.17% of outstanding shares while the percentage share held by institutions stands at 71.95%. But the 6.30% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
