Bank of America Corporation (NYSE:BAC) has made a 35.79% comeback from a 12-month low price of $22.66. It was seen 1.42% higher, changing the price to $30.77, when the closing bell rang on 7/26/2019. At a recent session, the prices were hovering between $30.42 and $30.99. This company shares are 8.64% off its target price of $33.43 and the current market capitalization stands at $299.27B. The recent change has given its price a 7.82% lead over SMA 50 and -3.57% deficit over its 52-week high. The stock witnessed 10.25% gains, 1.38% gains and 4.02% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found BAC’s volatility during a week at 1.91% and during a month it has been found around 1.54%.
What Does Bank of America Corporation (BAC) Do?
The company describes itself in regulatory filings as, “Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses. The Global Wealth and Investment Management provides client experience through a network of financial advisors focused on to meet their needs through a full set of investment management, brokerage, banking, and retirement products. The Global Banking segment deals with lending-related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services. The Global Markets segment includes sales and trading services, as well as research, to institutional clients across fixed-income, credit, currency, commodity, and equity businesses. The All Other segment consists of asset and liability management activities, equity investments, non-core mortgage loans and servicing activities, the net impact of periodic revisions to the mortgage servicing rights (MSR) valuation model for both core and non-core MSRs, other liquidating businesses, residual expense allocations and other. The company was founded by Amadeo Peter Giannini in 1904 is headquartered in Charlotte, NC.” [Text can be found here: https://www.marketwatch.com/investing/stock/BAC/profile under company description.]Bank of America Corporation (BAC) Top Holders
Institutional investors currently hold around $203.02 billion or 70.8% in BAC stock. Look at its top three institutional owners: Berkshire Hathaway Inc owns $27.58 billion in Bank of America Corporation, which represents roughly 9.21% of the company’s market cap and approximately 13.58% of the institutional ownership. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 660,277,409 shares of the stock are valued at $20.32 billion. The third largest holder is Blackrock Inc., which currently holds $17.37 billion worth of this stock and that ownership represents nearly 5.8% of its market capitalization.Bank of America Corporation 13F Filings
At the end of March reporting period, 981 institutional holders increased their position in Bank of America Corporation (NYSE:BAC) by some 211,065,856 shares, 966 decreased positions by 311,410,615 and 251 held positions by 6,075,000,000. That puts total institutional holdings at 6,598,000,000 shares, according to SEC filings. The stock grabbed 157 new institutional investments totaling 25,740,348 shares while 97 institutional investors sold out their entire positions totaling 24,902,159 shares.Bank of America Corporation (NYSE:BAC) Insider Trades
Multiple company employees have indulged in significant insider trading. Bank of America Corporation disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Pres, Ret & Pref & Sm Bus Bnkg Athanasia Dean C has sold 129,615 shares of Bank of America Corporation (BAC) in the trading session dated Apr. 17, 2019. These shares are worth $3,859,935 and were traded at $29.78 each. The SEC filing shows that Bessant Catherine P performed a sale of 15,820 shares. The Chief Ops & Tech Officer disposed these shares by way of transaction on Aug. 09, 2018. The company’s shares were given away at $31.61 per share worth to an income of some $500,070 to the account of Bessant Catherine P.
Director, BRAMBLE FRANK P, sold 86,763 common shares of Bank of America Corporation (BAC) in the open market. In a transaction dated Aug. 10, 2017, the shares were put up for sale at an average price of $24.16, raking in a sum of $2,096,194. After this sale, 99,917 common shares of BAC are directly owned by the insider, with total stake valued at $3,074,446.
In the transaction dated Apr. 27, 2017, a great number of shares acquired came courtesy the Director; Woods Thomas D added a total of 25,000 shares at an average price of $23.81, amounting to approximately $595,250. The insider now directly owns 62,063 shares worth $1,909,679.Bank of America Corporation (BAC) Analyst Guide
Several analysts have released their opinion on Bank of America Corporation (NYSE:BAC), with 8 analysts believing it is a strong buy. Whereas 10 of them predict the stock is a hold. Also, there are 12 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.07 average brokerage recommendation [T1].