Bank Of America Corp. (BAC): A Case For Going Higher

After Hours

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.

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Stocks Info

This NYSE-listed company operates within the Banks – Diversified industry segment, falling under the Financial sector. The current market capitalization of Bank Of America Corp. is $316.20B. A total of 45.61 million shares were traded on the day, compared to an average of 39.37M shares.

In the most recent transaction, BERKSHIRE HATHAWAY INC sold 7,938,699 shares of BAC for 40.61 per share on Aug 30 ’24. After the transaction, the 10% Owner now owns 882,723,903 company shares. In a previous transaction on Aug 28 ’24, BERKSHIRE HATHAWAY INC sold 7,081,075 shares at 39.95 per share. BAC shares that 10% Owner owns now total 896,719,301.

Among the insiders who sold shares, BERKSHIRE HATHAWAY INC disposed of 6,056,699 shares on Aug 29 ’24 at a per-share price of $40.10. This resulted in the 10% Owner holding 890,662,602 shares of BAC after the transaction. In another insider transaction, Mensah Bernard A sold 92,000 shares at $39.80 per share on Aug 27 ’24. Company shares held by the President, International now total 96,082.

Dividend

The income generated by dividends is an indication that a company is improving its financial position, which is why investors prefer companies paying dividends. Bank Of America Corp. pays an annual dividend of $0.96, resulting in a dividend yield of 2.36%, and it has a price to earnings (P/E) ratio of 14.33. BAC’s most recent ex-dividend date was 9/6/2024 when it declared a $0.26 quarterly dividend that was paid in cash on 9/27/2024. Previously, the company paid the dividend on 6/28/2024 with an ex-dividend date of 6/7/2024. The BAC stock dividend was $0.24 per share in cash.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. In terms of 52-week highs and lows, BAC has a high of $44.44 and a low of $24.96.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. Its Book Value Per Share was $34.39, while its Total Shareholder’s Equity was $270.07B.

Analysts Opinion

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. Currently, 0 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 Buy with a score of 4.08.

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