8-May-2024
Don’t Sweat the Strong Dollar: A Historical Perspective for Investors
TipRanks (Wed, 8-May 5:13 AM ET)
Bank of America (BAC) Gets a Buy from Wells Fargo
TipRanks (Tue, 7-May 9:15 PM ET)
Wall Street bonuses poised to recover on back of market gains - report
Seeking Alpha News (Tue, 7-May 1:03 PM ET)
Bank of America Announces Redemption of 0.523% Fixed/Floating Rate Senior Notes Due June 2024
PRNewswire (Mon, 6-May 4:15 PM ET)
Is This Why Berkshire Reduced Apple Stake By 18% In Q1? Buffett Gives Convincing Reason.
Benzinga (Sat, 4-May 2:03 PM ET)
Warren Buffett's Confidence In Apple Wanes? Berkshire Cuts Stake By 18% Amid Tech Giant's Troubles.
Benzinga (Sat, 4-May 12:03 PM ET)
Buffett says Apple likely to be largest investment at 2024-end, despite Q1 stake cut (update)
Seeking Alpha News (Sat, 4-May 12:03 PM ET)
Buffett's Berkshire Hathaway slashes Apple stake in Q1
Seeking Alpha News (Sat, 4-May 10:09 AM ET)
Berkshire Hathaway's Q1 Operating Earnings Surged 39% — Here's Why
Benzinga (Sat, 4-May 9:29 AM ET)
Berkshire Hathaway Q1 operating earnings gain 39% Y/Y, cash hits record $189B
Seeking Alpha News (Sat, 4-May 8:33 AM ET)
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.
Bank Of America trades on the NYSE stock market under the symbol BAC.
As of May 8, 2024, BAC stock price declined to $37.71 with 30,461,944 million shares trading.
BAC has a beta of 1.25, meaning it tends to be more sensitive to market movements. BAC has a correlation of 0.31 to the broad based SPY ETF.
BAC has a market cap of $296.66 billion. This is considered a Mega Cap stock.
Last quarter Bank Of America reported $26 billion in Revenue and $.83 earnings per share. This beat revenue expectation by $527 million and exceeded earnings estimates by $.06.
In the last 3 years, BAC stock traded as high as $50.11 and as low as $24.96.
The top ETF exchange traded funds that BAC belongs to (by Net Assets): VTI, VOO, SPY, IVV, VTV.
BAC has outperformed the market in the last year with a return of +39.6%, while the SPY ETF gained +26.9%. In the last 3 month period, BAC beat the market returning +14.6%, while SPY returned +4.1%. However, in the most recent 2 weeks BAC has underperformed the stock market by returning -1.6%, while SPY returned +2.3%.
BAC support price is $37.33 and resistance is $38.35 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BAC stock will trade within this expected range on the day.