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Wednesday, February 1, 2023

There’s No Getting Around Bank of America Corporation (NYSE: BAC) Success

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Bank of America Corporation (BAC) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.23, or 0.67%, to $34.37. The Bank of America Corporation has recorded 3,307,377 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted Bank of America Declares First Quarter 2023 Preferred Stock Dividends.

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Stocks Info

BAC belongs to the Financial sector of the NYSE while operating in the Banks – Diversified industry. At the end of the last regular session, the stock closed at $34.14 and fluctuated between $34.82 as its day high and $33.83 as its day low. The current market capitalization of Bank of America Corporation is $274.05B. A total of 41.77 million shares were traded on the day, compared to an average of 40.87M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, BAC has seen 3 BUY and 5 SELL insider trades, representing the acquisition of 34,378 and the disposition of 142,893 shares. Over the last 12 months, there were 90 BUYs and 90 SELLs from insiders. Insiders purchased 3,491,290 shares during that period but sold 1,763,189.

In the most recent transaction, BANK OF AMERICA CORP /DE/ sold 4 shares of BAC for 23750.00 per share on Nov 16. After the transaction, the Former 10% Owner now owns 0 company shares. In a previous transaction on Nov 16, BANK OF AMERICA CORP /DE/ sold 155 shares at 47500.00 per share. BAC shares that Former 10% Owner owns now total 0.

Among the insiders who sold shares, Sieg Andrew M. disposed of 18,407 shares on Jan 28 at a per-share price of $45.12. This resulted in the Pres, Merill Wealth Mgmt holding 281,405 shares of BAC after the transaction.

Dividend

Paying dividends generates immediate cash flow for investors and indicates a positive outlook for the company. Bank of America Corporation pays an annual dividend of $0.88, resulting in a dividend yield of 2.58%, and it has a price to earnings (P/E) ratio of 10.80. BAC’s most recent ex-dividend date was 12/1/2022 when it declared a $0.22 quarterly dividend that was paid in cash on 12/30/2022. Previously, the company paid the dividend on 9/30/2022 with an ex-dividend date of 9/1/2022. The BAC stock dividend was $0.22 per share in cash.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for BAC in the last 3 months, the mean price target is $41.26 with high estimates of $52.00 and low estimates of $32.00. In terms of 52-week highs and lows, BAC has a high of $50.11 and a low of $29.31.

As of this writing, BAC has an earnings estimate of $0.85 per share for the current quarter. EPS was calculated based on a consensus of 17 estimates, with a high estimate of $0.93 per share and a lower estimate of $0.78. The company reported an EPS of $0.73 in the last quarter, which was -2.70% lower than expectations of $0.75.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 28 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for BAC is Sell with a score of 4.06. A total of 12 analysts rated the stock as Buy while 4 rated it as Overweight while 12 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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