Bank of America Corporation’s recent filing unveils that its President, Global Markets DeMare James P unloaded Company’s shares for reported $2.36 million on Aug 01. In the deal valued at $31.53 per share,75,000 shares were sold. As a result of this transaction, DeMare James P now holds 185,108 shares worth roughly $ 5.3 million.
Then, Athanasia Dean C sold 77,806 shares, generating $2,449,722 in total proceeds. Upon selling the shares at $31.48, the President, Regional Banking now owns 353,971 shares.
Before that, Koder Matthew M sold 105,054 shares. Bank of America Corporation shares valued at $3,600,411 were divested by the Pres, Gl Corp & Invest Banking at a price of $34.27 per share. As a result of the transaction, Koder Matthew M now holds 319,803 shares, worth roughly $9.16 million.
UBS reiterated its Bank of America Corporation [BAC] rating to a Buy in a research note published on Tuesday, April 19, 2023; the price target was $36. PT values the company’s stock at a premium of 20.42 to its Tuesday closing price.
Price Performance Review of BAC
On Tuesday, Bank of America Corporation [NYSE:BAC] saw its stock fall -1.14% to $28.65. On the same session, the stock had its day’s lowest price of $28.495, but rose to a high of $29.115. Over the last five days, the stock has lost -0.38%. Bank of America Corporation shares have fallen nearly -13.50% since the year began. Nevertheless, the stocks have fallen -14.40% over the past one year. While a 52-week high of $38.60 was reached on 02/07/23, a 52-week low of $26.32 was recorded on 03/24/23. SMA at 50 days reached $29.96, while 200 days put it at $31.19. A total of 46.49 million shares were traded, compared to the trading of 35.23 million shares in the previous session.
Levels Of Support And Resistance For BAC Stock
The 24-hour chart illustrates a support level at 28.39, which if violated will result in even more drops to 28.13. On the upside, there is a resistance level at 29.01. A further resistance level may holdings at 29.37. The Relative Strength Index (RSI) on the 14-day chart is 39.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.10, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.69%. Stochastics %K at 31.94% indicates the stock is a holding.
How much short interest is there in Bank of America Corporation?
A steep rise in short interest was recorded in Bank of America Corporation stocks on Aug 14, 2023, dropping by -17.58 million shares to a total of 53.27 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 70.85 million shares. There was a decline of -33.0%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.77% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.2.
Bank of America Corporation [BAC] – Who Are The Largest Shareholders?
In filings from Berkshire Hathaway, Inc., it is revealed that the company now owns 1,032,852,006 shares, or roughly 12.96% of the outstanding BAC shares. Additionally, The Vanguard Group, Inc. decreased -0.80% of its stake after which the total value it holdings stand at $18,548,319,296, while BlackRock Fund Advisors added 0.51% of its stake to hold $9.8 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 3,726,244 shares of Bank of America Corporation, while Fidelity Management & Research Co bought -32,505,887 shares. At present, Geode Capital Management LLC is holding 127,236,515 shares valued at $4.07 billion. Norges Bank Investment Management owned 103,760,365 shares of the company at the time of its most recent 13F filing, worth $3.32 billion.
According to FactSet, Bank of America Corporation’s share price will average $35.37 in the next year, based on opinions of analysts polled by the firm. This is up nearly 20.77 percent from its previous closing price of $28.98. Analysts expect Bank of America Corporation stock to reach the higher price of $49.00, while the lowest price estimate is $28.00. However, 28 analysts have rated BAC stock as an Overweight in their predictions for 2023.