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 $160,662,919 were sold by BERKSHIRE HATHAWAY INC on Oct 09 ’24. At $40.14 per share, BERKSHIRE HATHAWAY INC sold 4,002,225 shares. The insider’s holdings dropped to 776,614,511 shares worth approximately $33.24 billion following the completion of this transaction.
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Also, BERKSHIRE HATHAWAY INC sold 3,933,197 shares, netting a total of over 157,292,875 in proceeds. Following the sale of shares at $39.99 each, the insider now holds 780,616,736 shares.
Before that, BERKSHIRE HATHAWAY INC had sold 1,614,511 shares from its account. In a trade valued at $64,447,243, the 10% Owner traded Bank Of America Corp. shares for $39.92 each. Upon closing the transaction, the insider’s holdings decreased to 1,614,511 shares, worth approximately $33.17 billion.
As published in a research note from Deutsche Bank on September 03, 2024, Bank Of America Corp. [BAC] has been rated up from a Hold to a Buy and the price target has been revised to $45. Analysts at Piper Sandler upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in early July. As of July 02, 2024, Seaport Research Partners has increased its “Neutral” rating to a “Buy” for BAC. Earlier on June 14, 2024, Keefe Bruyette upgraded its rating. Their new recommendation was “an Outperform” for BAC stock which previously was a “a Mkt perform”.
Analyzing BAC Stock Performance
During the last five days, there has been a surge of approximately 6.49%. Over the course of the year, Bank Of America Corp. shares have jumped approximately 27.12%. 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 $39.65, while a 200-day SMA reached $37.80. Nevertheless, trading volume fell to 42.25 million shares from 61.49 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 42.26, which, if violated, would cause prices to drop to 41.73. In the upper region, resistance lies at 43.22. The next price resistance is at 43.64. RSI (Relative Strength Index) is 72.56 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.87, which suggests the price will increase in the coming days. Percent R is at 12.11%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
