BAC Stock Summary and Trading Ideas (Bank Of America | NYSE:BAC)

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 October 31, 2024, BAC stock price declined to $41.82 with 24,821,350 million shares trading.

BAC has a beta of 1.03, meaning it tends to be more sensitive to market movements. BAC has a correlation of 0.25 to the broad based SPY ETF.

BAC has a market cap of $320.88 billion. This is considered a Mega Cap stock.

Last quarter Bank Of America reported $25 billion in Revenue and $.81 earnings per share. This beat revenue expectation by $202 million and exceeded earnings estimates by $.04.

In the last 3 years, BAC 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 price return of +66.6% while the SPY ETF gained +38.5%. However, in the short term, BAC had mixed performance relative to the market. It has underperformed in the last 3 months, returning +1.9% vs +5.2% return in SPY. But in the last 2 weeks, BAC shares have fared better than the market returning -2.3% compared to SPY -2.3%.

BAC support price is $41.73 and resistance is $42.89 (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 shares will trade within this expected range on the day.