Bank of America Corporation (BAC) : The money flow analysis of Bank of America Corporation (BAC) indicates a $101.21 million of outflow was on downticks, whereas, the investors on Wednesday gobbled up stocks worth $112.53 million on upticks. The ratio between the upticks and downticks was clearly in favor of the bulls at 1.11 and so was the total money flow at $11.32 million. A solid up-down ratio of 1.31 in block trades indicates that the investors are accumulating the stock on weakness. The bulls lapped up $29.46 million worth of block trades on upticks. Only $22.48 million worth of the stock exchanged hands on downticks. The money flow was $6.98 million in block trades, underlining the interest of the bulls in the stock even when the stock was declining.However, the price action shows that the bears had an upper hand in the stock of Bank of America Corporation (BAC), pushing it down by -0.16% for the day. The stock slid $0.03 and traded at $15.27 during the day. Nonetheless, the stock is -1.64% over the previous weeks close.
Bank of America Corporation has lost 1.73% in the last five trading days and dropped 2.45% in the last 4 weeks. Bank of America Corporation is up 17.15% in the last 3-month period. Year-to-Date the stock performance stands at -7.53%.
Bank of America Corporation (BAC) : 17 analysts are covering Bank of America Corporation (BAC) and their average rating on the stock is 1.65, which is read as a Buy. 11 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Bank of America Corporation (BAC) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 5 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Bank of America Corporation (NYSE:BAC): The stock opened at $15.36 and touched an intraday high of $15.39 on Wednesday. During the day, the stock corrected to an intraday low of $15.15, however, the bulls stepped in and pushed the price higher to close in the green at $15.38 with a gain of 0.59% for the day. The total traded volume for the day was 66,073,752. The stock had closed at $15.29 in the previous trading session.
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.