Bank Of America is a diversified bank company located in North Carolina, United States, which is part of the Financial Services sector, and is traded under the ticker BAC on the NYSE exchange.
Bank Of America stock last closed at $36.43, up 0.83% from the previous day, and has decreased 21.54% in one year. It has underperformed other stocks in the Banks - Diversified industry by 0.08 percentage points. Bank Of America stock is currently +24.29% from its 52-week low of $29.31, and -27.3% from its 52-week high of $50.11.
As of Feb 3, 2023, there are 8.02B shares of BAC outstanding. The market capitalization of BAC is $292.26B. In the past 24 hours, 37.4M BAC shares were traded.
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Once you have figured out the best place to buy Bank Of America stock, it's important to analyze their stock before you buy, so you actually comprehend the risk and opportunity.
WallStreetZen was designed to help average investors perform more in-depth fundamental analysis in less time.
You can see all of the due diligence checks on BAC's stock page.
You can use a variety of different financial metrics, analyses, models, and charts to gauge BAC's intrinsic value.
Using relative valuations ratios:
You can do more valuation analysis on BAC's stock here.
Out of 17 Wall Street analysts who track BAC, the consensus analyst rating on Bank Of America is a Buy
It's important to note that analyst ratings are not stock recommendations, nor are they financial advice.
Chris Kotowski, a top 1% analyst from Oppenheimer maintains BAC with a buy rating and raises their BAC price target from $50.00 to $53.00, on Feb 2, 2023.
John Heagerty, a top 22% analyst from Atlantic Equities downgrades BAC to a hold rating and announces their BAC price target of $40.00, on Jan 31, 2023.
Heagerty assumed coverage of Bank of America Corporation by downgrading the stock from Strong Buy to Hold and assigning a $40 price target.
Not only the is bank's interest income growth slowing, but its noninterest income will also be pressured in FY 2023, the analyst told investors.
From a macro perspective, banks typically do not do well in a recession*, Heagerty noted, concluding that the sector will recover "once there is more transparency about the depth of the likely economic slowdown."
* From here: Simply put, banks rely on consumers being willing to spend and borrow money to profit. In recessions, fewer people tend to buy cars and houses or use their credit cards. In addition, more consumers tend to run into trouble paying their debts during recessions, which can result in loan losses for banks.
Scott Siefers, a top 27% analyst from Piper Sandler downgrades BAC to a strong sell rating and lowers their BAC price target from $36.00 to $33.00, on Jan 17, 2023.
Dick Bove, a bottom 10% analyst from Odeon Capital upgrades BAC to a strong buy rating and announces their BAC price target of $38.44, on Jan 10, 2023.
Matthew O'Connor, a top 14% analyst from Deutsche Bank downgrades BAC to a hold rating and lowers their BAC price target from $45.00 to $36.00, on Jan 6, 2023.
You can dive deeper into what analysts are projecting on the Bank Of America stock forecast page.
Last year, BAC earnings were $25.88B. During the past 5 year, BAC's earnings have gone up by 11.32% per year. This was slower than the Banks - Diversified industry average of 13.72%.
Last year, BAC revenue was $92.48B. Over the past five year, BAC's revenue has increased by 1.25% per year. This was slower than the Banks - Diversified industry average of 4.41%.
You can analyze BAC's earnings and revenue performance here.
In the past year, insiders at BAC have sold more shares than they have bought.
Matthew M. Koder, Pres Gl Corp Invest Banking of BAC, was the latest BAC insider to sell. They sold $7,712,137.19 worth of BAC stock on Feb 2, 2023.
Dig into more about who owns BAC stock here.
Bank Of America pays a dividend of 2.36%, compared to the Banks - Diversified industry's average dividend yield of 3.69%. If you owned $1,000 worth of BAC stock, you would have received $23.61 in the past 12 months.
Bank Of America dividend payments have consistently grown over the past decade and have remained stable.
Find more info about Bank Of America dividend yield and history here.
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