Bank Of America Corp’s filing revealed that its 10% Owner BANK OF AMERICA CORP /DE/ unloaded Company’s shares for reported $0.26 million on Oct 28 ’24. In the deal valued at $2.51 per share,102,185 shares were sold. As a result of this transaction, BANK OF AMERICA CORP /DE/ now holds 2 shares worth roughly $93.5.
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Then, BERKSHIRE HATHAWAY INC sold 8,694,538 shares, generating $369,928,036 in total proceeds. Upon selling the shares at $42.55, the 10% Owner now owns 766,305,462 shares.
Before that, BERKSHIRE HATHAWAY INC sold 4,002,225 shares. Bank Of America Corp shares valued at $160,662,919 were divested by the 10% Owner at a price of $40.14 per share. As a result of the transaction, BERKSHIRE HATHAWAY INC now holds 776,614,511 shares, worth roughly $36.31 billion.
Citigroup upgraded its Bank Of America Corp [BAC] rating to a Buy from a a Neutral in a research note published on November 08, 2024; the price target was increased to $54 from $46. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who increased its forecast for the stock in early September from “a Hold” to “a Buy”. Piper Sandler also remained covering BAC and has increased its forecast on July 09, 2024 with a “Neutral” recommendation from previously “an Underweight” rating. Seaport Research Partners revised its rating on July 02, 2024. It rated BAC as “a Buy” which previously was an “a Neutral”.
Price Performance Review of BAC
On Friday, Bank Of America Corp [NYSE:BAC] saw its stock jump 1.85% to $46.75. Over the last five days, the stock has gained 3.59%. Bank Of America Corp shares have risen nearly 38.85% since the year began. Nevertheless, the stocks have risen 57.83% over the past one year. While a 52-week high of $46.52 was reached on 11/15/24, a 52-week low of $29.20 was recorded on 01/17/24. SMA at 50 days reached $41.49, while 200 days put it at $38.92.
Levels Of Support And Resistance For BAC Stock
The 24-hour chart illustrates a support level at 45.97, which if violated will result in even more drops to 45.18. On the upside, there is a resistance level at 47.19. A further resistance level may holdings at 47.62. The Relative Strength Index (RSI) on the 14-day chart is 73.78, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.07, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.57%. Stochastics %K at 91.68% indicates the stock is a selling.
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 2024-10-31, dropping by -3.54 million shares to a total of 63.84 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 67.38 million shares. There was a decline of -5.55%, which implies that there is a negative sentiment for the stock.
