Bank of America Corporation (NYSE:BAC) shares traded lower over the last trading session, losing -0.35% on 06/07/21. The shares fell to a low of $43.06 before closing at $43.12. Intraday shares traded counted 28.31 million, which was 42.38% higher than its 30-day average trading volume of 49.13M. BAC’s previous close was $43.27 while the outstanding shares total 8.70B. The firm has a beta of 1.56, a 12-month trailing P/E ratio of 18.45, and a growth ratio of 16.61. The stock’s Relative Strength Index (RSI) is 63.84, with weekly volatility at 1.30% and ATR at 0.77. The BAC stock’s 52-week price range has touched low of $22.39 and a $43.49 high.
Investors have identified the Banks – Diversified company Bank of America Corporation as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $369.34 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Potential earnings growth for Bank of America Corporation (BAC)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 07/14/2021 quarter of the year, Bank of America Corporation recorded a total of 11.39 billion in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with -41.27% coming in sequential stages and their sales for the 07/14/2021 quarter reducing by -0.58%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 1.2 billion trying to sell their products during the last quarter, with the result yielding a gross income of 10.2 billion. This allows shareholders to hold on to 8.70B with the recently reported earning now reading 0.87 cents per share. This is a figure that compared to analyst’s prediction for their 07/14/2021 (0.86 cents a share).
Having a look at the company’s valuation, the company is expected to record 3.13 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on BAC sounds very interesting.
Is the stock of BAC attractive?
In related news, Director, BRAMBLE FRANK P sold 4,400 shares of the company’s stock in a transaction that recorded on Apr 30. The sale was performed at an average price of 40.58, for a total value of 178,530. As the sale deal closes, the Director, BRAMBLE FRANK P now sold 4,400 shares of the company’s stock, valued at 178,530. Also, Chief Accounting Officer, Bless Rudolf A. sold 140,677 shares of the company’s stock in a deal that was recorded on Feb 25. The shares were price at an average price of 36.44 per share, with a total market value of 5,126,270. Following this completion of acquisition, the 10% Owner, BANK OF AMERICA CORP /DE/ now holds 5 shares of the company’s stock, valued at 74. In the last 6 months, insiders have changed their ownership in shares of company stock by 0.10%.
15 out of 26 analysts covering the stock have rated it a Buy, while 6 have maintained a Hold recommendation on Bank of America Corporation. 2 analysts has assigned a Sell rating on the BAC stock. The 12-month mean consensus price target for the company’s shares has been set at $43.40.