The USA listed company saw a recent price trade of $31.16 and 48,078,412 shares have traded hands in the session. There are 56.53M shares which are traded as an average over the last three months period. On June 2, Bank of America made a $1 billion, four-year commitment to advance racial equality and economic opportunity, of which $200 million was allocated to support Black, Hispanic-Latino, other under-represented minority and women entrepreneurs. Today, Bank of America announced it will invest approximately $150 million in 40 funds, based in 21 markets across the U.S. These investments will underscore Bank of America’s ongoing efforts to address the persistent gap in access to growth capital for minority-led businesses.
“By accelerating the flow of capital into funds focused on investing in Black, Hispanic-Latino, other under-represented minority and women-led businesses, we can help level the playing field,” said Brian Moynihan, CEO of Bank of America. “These funds support diverse entrepreneurs across the U.S. and will drive innovation and economic opportunities, creating more jobs and wealth in communities.”
In addition to their focus on investing in minority-led businesses, these funds are predominately led by diverse fund managers. Representative funds include but are not limited to:
- Fearless Fund – Atlanta, Ga.
- Harlem Capital – New York, N.Y.
- The Marathon Fund – Washington, D.C.
- New Community Transformation Fund – Grand Rapids, Mich.
- Reign Ventures – New York, N.Y.
- Serena Ventures – San Francisco, Calif.
- TMV – New York, N.Y.
- VamosVentures – Los Angeles, Calif.
- Zeal Capital Partners – Washington, D.C.
The completion of these investments is subject to execution of documentation.
These investments are one component of Bank of America’s $1 billion commitment to racial equality and economic opportunity. This commitment is focused on addressing and advancing social issues in minority populations, such as health, jobs, education, housing and capital inequality, and will facilitate benefits across multiple states and communities.
On 01-26-2k21 (Tuesday) Shareholders tracking shares of Bank of America Corporation (BAC) belongs to Financial sector and Banks – Diversified industry. BAC Inc. has a total market value of 271.44B at the time of writing – representing $8.73B outstanding shares. Turning to other widely-considered trading data, this company’s half yearly performance is observed at 27.97%.
BAC Performance Levels
Looking performance record on shares of Bank of America Corporation (BAC) we observed that the stock has seen a move -7.10% over the last 52-week trading period. The stock generated performance of 25.29% tracking last 3 months. Investors will be anxiously watching to see if things will turn around and the stock will start gaining or losing momentum over the next few months. If we look back year-to-date, the stock has performed 2.80%. Shares are at -5.60% over the previous week and 6.68% over the past month.
Analyst Views: Fluctuating the focus to what the Wall Street analysts are projecting, we can see that the current consensus target price on shares is $35.24. Analysts often put in a lot of work to study stocks that they cover. Wall Street analysts have a consensus recommendation of 2.20on this stock. This number falls on a one to five scale where a 1 would be considered a strong buy and 5 means a strong sell, 2 shows Buy, 3 Hold, 4 reveals Sell recommendation.
Watching some historical volatility numbers on shares of Bank of America Corporation (BAC) we can see that the 30 days volatility is presently 2.43%. The 7 days volatility is 2.53%. Following volatility data can help measure how much the stock price has fluctuated over the specified time period. Although past volatility action may help project future stock volatility, it may also be vastly different when taking into account other factors that may be driving price action during the measured time period.
The company has a beta of 1.55. 1.00 indicates that its price is correlated with the market. Less than 1.00 shows less volatility than the market. Beta greater than 1.00 indicates that the security’s price is theoretically more volatile than the market.
The Average True Range (ATR) value reported at 0.86. The average true range (ATR) is a technical analysis indicator that measures volatility by decomposing the entire range of an asset price for that period. A stock experiencing a high level of volatility has a higher ATR, and a low volatility stock has a lower ATR. The ATR may be used by market technicians to enter and exit trades, and it is a useful tool to add to a trading system. It was created to allow traders to more accurately measure the daily volatility of an asset by using simple calculations. The indicator does not indicate the price direction; rather it is used primarily to measure volatility caused by gaps and limit up or down moves. The ATR is fairly simple to calculate and only needs historical price data.
Bank of America Corporation (BAC) stock positioned 21.08% distance from the 200-day MA and stock price situated 5.02% away from the 50-day MA while located -1.69% off of the 20-day MA.
RSI value sited with reading of 54.55. Relative Strength Index (RSI) is an extremely useful and popular momentum oscillator. The RSI compares the magnitude of a stock’s recent gains to the magnitude of its recent losses and turns that information into a number that ranges from 0 to 100. It takes a single parameter, the number of time periods to use in the calculation. In his book, Wilder recommends using 14 periods.
Observing the Technical Indicators:
Bank of America Corporation institutional ownership is held at 71.10% while insider ownership was 0.10%. As of now, BAC has a P/S, P/E and P/B values of 5.26, 16.64 and 1.11 respectively. Its P/Cash is valued at 0.29. The Company’s net profit margin for the 12 months at 0. Comparatively, the gazes have a Gross margin 0.
Looking into the profitability ratios of BAC stock, an investor will find its ROE, ROA, ROI standing at 7.80%, 0.70% and 6.00%, respectively.
Earnings per Share Details of Bank of America Corporation
The EPS of BAC is strolling at 1.87, measuring its EPS growth this year at 5.60%. As a result, the company has an EPS growth of 1.11% for the approaching year.
Given the importance of identifying companies that will ensure earnings per share at a tall rate, we later obsession to umpire how to identify which companies will achieve high amassing rates. One obvious showing off to identify high earnings per portion count together companies are to locate companies that have demonstrated such build up beyond the p.s. 5 to 10 years.
The payout ratio shows the proportion of earnings paid out as dividends to shareholders, typically expressed as a percentage of the company’s earnings. The payout ratio can also be expressed as dividends paid out as a proportion of cash flow. The payout ratio is also known as the dividend payout ratio. The Company’s payout ratio was 34.40% and Price to free cash flow remained $4.25.