Bank Of America Corp.’s filing revealed that its 10% Owner BERKSHIRE HATHAWAY INC unloaded Company’s shares for reported $369.93 million on Oct 15 ’24. In the deal valued at $42.55 per share,8,694,538 shares were sold. As a result of this transaction, BERKSHIRE HATHAWAY INC now holds 766,305,462 shares worth roughly $32.1 billion.
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Then, BERKSHIRE HATHAWAY INC sold 4,002,225 shares, generating $160,662,919 in total proceeds. Upon selling the shares at $40.14, the 10% Owner now owns 776,614,511 shares.
Before that, BERKSHIRE HATHAWAY INC sold 3,933,197 shares. Bank Of America Corp. shares valued at $157,292,875 were divested by the 10% Owner at a price of $39.99 per share. As a result of the transaction, BERKSHIRE HATHAWAY INC now holds 780,616,736 shares, worth roughly $32.7 billion.
Deutsche Bank upgraded its Bank Of America Corp. [BAC] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who increased its forecast for the stock in early July from “an Underweight” to “a Neutral”. Seaport Research Partners also remained covering BAC and has increased its forecast on July 02, 2024 with a “Buy” recommendation from previously “Neutral” rating. Keefe Bruyette revised its rating on June 14, 2024. It rated BAC as “an Outperform” which previously was an “a Mkt perform”.
Price Performance Review of BAC
On Friday, Bank Of America Corp. [NYSE:BAC] saw its stock fall -1.78% to $41.89. Over the last five days, the stock has lost -1.02%. Bank Of America Corp. shares have risen nearly 24.41% since the year began. Nevertheless, the stocks have risen 63.95% over the past one year. While a 52-week high of $44.44 was reached on 07/17/24, a 52-week low of $24.96 was recorded on 01/17/24. SMA at 50 days reached $40.21, while 200 days put it at $38.09.
Levels Of Support And Resistance For BAC Stock
The 24-hour chart illustrates a support level at 41.46, which if violated will result in even more drops to 41.02. On the upside, there is a resistance level at 42.65. A further resistance level may holdings at 43.41. The Relative Strength Index (RSI) on the 14-day chart is 57.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.53, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 40.41%. Stochastics %K at 70.95% indicates the stock is a holding.
How much short interest is there in Bank Of America Corp.?
A steep rise in short interest was recorded in Bank Of America Corp. stocks on 2024-10-15, dropping by -9.61 million shares to a total of 60.32 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 69.94 million shares. There was a decline of -15.94%, which implies that there is a negative sentiment for the stock.
