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Sunday, April 2, 2023

What Are The Chances Of Bank of America Corporation (NYSE: BAC) Becoming A Clear Buy?

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Bank of America Corporation (BAC) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.10, or 0.35%, to $28.86. The Bank of America Corporation has recorded 2,393,919 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Bank of America Declares Second Quarter 2023 Preferred Stock Dividends.

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Stocks Info

Bank of America Corporation is listed on the NYSE as a member of the Financial sector and is a part of the Banks – Diversified industry. At the end of the last regular session, the stock closed at $28.76 and fluctuated between $30.09 as its day high and $28.47 as its day low. The current market capitalization of Bank of America Corporation is $232.24B. A total of 153.75 million shares were traded on the day, compared to an average of 43.11M shares.

Insider Activity

Additionally, investors take into account insider trades when predicting how a stock will perform. During the recent three months, BAC has seen 76 BUY and 78 SELL insider trades, representing the acquisition of 2,265,694 and the disposition of 1,261,124 shares. Over the last 12 months, there were 98 BUYs and 106 SELLs from insiders. Insiders purchased 2,573,837 shares during that period but sold 1,562,960.

In the most recent transaction, Koder Matthew M sold 105,054 shares of BAC for 34.27 per share on Feb 23. After the transaction, the Pres, Gl Corp & Invest Banking now owns 319,803 company shares. In a previous transaction on Feb 02, Koder Matthew M sold 214,745 shares at 35.91 per share. BAC shares that Pres, Gl Corp & Invest Banking owns now total 214,747.

Among the insiders who sold shares, BANK OF AMERICA CORP /DE/ disposed of 155 shares on Nov 16 at a per-share price of $47500.00. This resulted in the Former 10% Owner holding 0 shares of BAC after the transaction. In another insider transaction, BANK OF AMERICA CORP /DE/ sold 4 shares at $23750.00 per share on Nov 16. Company shares held by the Former 10% Owner now total 0.


It is more appealing for investors to invest in companies that pay dividends because dividends generate immediate cash flow and indicate a positive outlook for the company. Bank of America Corporation pays an annual dividend of $0.88, resulting in a dividend yield of 3.06%, and it has a price to earnings (P/E) ratio of 9.03. BAC’s most recent ex-dividend date was 3/2/2023 when it declared a $0.22 quarterly dividend that was paid in cash on 3/31/2023. Previously, the company paid the dividend on 12/30/2022 with an ex-dividend date of 12/1/2022. The BAC stock dividend was $0.22 per share in cash.

Though price targets are rarely accurate, they can exert some influence from time to time and were often accepted as valuable by the market. According to analysts who have offered 12-month price targets for BAC in the last 3 months, the mean price target is $40.40 with high estimates of $53.00 and low estimates of $33.00. In terms of 52-week highs and lows, BAC has a high of $44.63 and a low of $27.87.

As of this writing, BAC has an earnings estimate of $0.84 per share for the current quarter. EPS was calculated based on a consensus of 18 estimates, with a high estimate of $0.96 per share and a lower estimate of $0.73. The company reported an EPS of $0.81 in the last quarter, which was 5.20% higher than expectations of $0.77.

Balance Sheet Annually/Quarterly

A balance sheet is a report that shows the company’s assets and liabilities. In addition, it shows how much equity investors have invested in the company. Investors can determine the company’s prospects by calculating its financial ratios based on this information.

Analysts Opinion

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. 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 3.78. A total of 11 analysts rated the stock as Buy while 3 rated it as Overweight while 12 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 2 thought it should be Sold.

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