Bank of America Corporation (BAC) : Traders are bullish on Bank of America Corporation (BAC) as it has outperformed the S&P 500 by a wide margin of 11.5% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.42%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.86% in the last 1 week, and is up 14.28% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Bank of America Corporation (NYSE:BAC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.75 and $14.75 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.06. The buying momentum continued till the end and the stock did not give up its gains. It closed at $15.05, notching a gain of 3.94% for the day. The total traded volume was 120,947,818 . The stock had closed at $14.48 on the previous day.
The stock has recorded a 20-day Moving Average of 6.66% and the 50-Day Moving Average is 8.33%. Bank of America Corporation is up 7.02% in the last 3-month period. Year-to-Date the stock performance stands at -9.93%.
Bank of America Corporation (BAC) : The highest short term price target forecast on Bank of America Corporation (BAC) is $20 and the lowest target price is $15. A total of 16 equity analysts are currently covering the company. The average price of all the analysts is $17.47 with a standard deviation of $1.65.
Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and Governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking and various nonbank subsidiaries, it provides a range of banking and nonbank financial services and products. It operates in five segments: Consumer & Business Banking, which offers a range of credit, banking and investment products and services to consumers and businesses; Consumer Real Estate Services, which provides a line of consumer real estate products and services; Global Wealth & Investment Management, which provides wealth management solutions; Global Banking, which provides a range of lending-related products and services, and Global Markets, which offers sales and trading services.