Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Bank Of America Corp. shares valued at $402,410 were sold by Hans Lindsay D. on Aug 05 ’24. At $36.91 per share, Hans Lindsay D. sold 10,901 shares. The insider’s holdings dropped to 10,907 shares worth approximately $0.42 million following the completion of this transaction.
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Also, BANK OF AMERICA CORP /DE/ purchased 116 shares, netting a total of over 1,434 in proceeds. Following the buying of shares at $12.36 each, the insider now holds 116 shares.
Before that, BANK OF AMERICA CORP /DE/ had sold 116 shares from its account. In a trade valued at $1,521, the 10% Owner traded Bank Of America Corp. shares for $13.11 each. Upon closing the transaction, the insider’s holdings decreased to 116 shares, worth approximately $0.0.
As published in a research note from Piper Sandler on July 09, 2024, Bank Of America Corp. [BAC] has been rated up from an Underweight to a Neutral and the price target has been revised to $42 from $37. Analysts at Seaport Research Partners upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early July. As of June 14, 2024, Keefe Bruyette has increased its “Mkt perform” rating to a “an Outperform” for BAC. Earlier on April 19, 2024, Wolfe Research upgraded its rating. Their new recommendation was “an Outperform” for BAC stock which previously was a “a Peer perform”.
Analyzing BAC Stock Performance
During the last five days, there has been a surge of approximately 4.05%. Over the course of the year, Bank Of America Corp. shares have jumped approximately 15.27%. Shares of the company reached a 52-week high of $44.44 on 07/17/24 and a 52-week low of $31.27 on 01/17/24. A 50-day SMA is recorded $40.20, while a 200-day SMA reached $35.69. Nevertheless, trading volume fell to 25.52 million shares from 21.55 million shares the previous day.
Support And Resistance Levels for Bank Of America Corp. (BAC)
According to the 24-hour chart, there is a support level at 38.52, which, if violated, would cause prices to drop to 38.23. In the upper region, resistance lies at 39.01. The next price resistance is at 39.20. RSI (Relative Strength Index) is 43.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.39, which suggests the price will decrease in the coming days. Percent R is at 46.19%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
