What is the B of a stock prediction?
Bank of America Stock Forecast
The average price target for Bank of America is $39.78. This is based on 23 Wall Streets Analysts 12-month price targets, issued in the past 3 months. The highest analyst price target is $45.00 ,the lowest forecast is $33.00.
Based on short-term price targets offered by 21 analysts, the average price target for Bank of America comes to $38.19. The forecasts range from a low of $31.00 to a high of $45.00. The average price target represents an increase of 6.77% from the last closing price of $35.77.
Is Bank of America stock a Buy, Sell or Hold? Bank of America stock has received a consensus rating of buy. The average rating score is A1 and is based on 48 buy ratings, 23 hold ratings, and 6 sell ratings.
According to the latest long-term forecast, Bank of America price will hit $40 by the middle of 2024 and then $55 by the middle of 2025. Bank of America will rise to $60 within the year of 2026, $65 in 2027, $75 in 2028, $80 in 2029, $85 in 2030, $90 in 2031, $95 in 2032, $100 in 2033 and $110 in 2035.
Stock Price Forecast
The 16 analysts with 12-month price forecasts for Bank of America stock have an average target of 38.87, with a low estimate of 33 and a high estimate of 45. The average target predicts an increase of 1.11% from the current stock price of 38.45.
CHARLOTTE, NC – Bank of America today announced it will expand its financial center network into nine new markets over the next four years, bringing banking, investing, retirement, lending and small business services and solutions to more clients and communities.
The brokerage raised its 2024 earnings per share (EPS) forecast for the index companies to $250 from the previously expected $235. BofA strategists said that "2023 was a transition year for Corporate America, and companies have now adjusted to the new higher rate and tepid demand environment."
Bank of America Corp's trailing 12-month revenue is $137.9 billion with a 18.0% profit margin. Year-over-year quarterly sales growth most recently was 42.1%. Analysts expect adjusted earnings to reach $3.260 per share for the current fiscal year. Bank of America Corp currently has a 2.5% dividend yield.
Valuation metrics show that U.S. Bancorp may be undervalued. Its Value Score of B indicates it would be a good pick for value investors. The financial health and growth prospects of USB, demonstrate its potential to outperform the market. It currently has a Growth Score of D.
Who holds the most Bank of America stock?
Berkshire Hathaway (BRK.A 0.36%)(BRK.B 0.21%): Warren Buffett's Berkshire Hathaway is the largest Bank of America shareholder, with 1.03 billion shares amounting to a 13% stake. As of March 2024, it was the second-largest of Warren Buffett's stock holdings after Apple (AAPL -0.81%), worth almost $37 billion.
Historical daily share price chart and data for Bank Of America since 1986 adjusted for splits and dividends. The latest closing stock price for Bank Of America as of April 23, 2024 is 38.37. The all-time high Bank Of America stock closing price was 46.47 on February 08, 2022.
Bank of America has the Financial Strength Rank of 4.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is.
Bank of America's shares have plunged this year but are still above the all-time low of $2.53 hit in February 2009. Click chart for more on the stock.
Bank of America Corporation ( BAC ) pays dividends on a quarterly basis.
BAC pays a dividend of $0.24 per share. BAC's annual dividend yield is 2.61%. When is Bank of America ex-dividend date? Bank of America's previous ex-dividend date was on Feb 29, 2024.
Bank of America is one of the largest consumer banks in the United States, with $3 trillion in customer deposits and other assets. The largest shareholder is Warren Buffett's Berkshire Hathaway, which holds 13% of all marketable shares.
Bank of America is primarily owned by Warren Buffet and his Berkshire Hathaway, with a 12.9% stake, followed by The Vanguard Group with 7.6% ownership and BlackRock with 5.9% ownership. Top individual investors comprise Brian T. Moynihan, CEO, and Chair of the Board, Geoffrey S. Greener, Chief Risk Officer, and Paul M.
One often-scrutinized number for BoA is the unrealized losses on its loan portfolio. When interest rates rise, loans, bonds, or other securities a bank holds are less attractive compared to those that could be made at higher rates, which is why bond prices and interest rates are inversely related.
Experts have mixed opinions on Bank of America, with some recommending it as a top pick with strong wealth management and investment banking while others express concerns about potential risks such as commercial real estate and rising interest rates.
Is BofA in financial trouble?
Bank of America's Financial Health
In recent years, Bank of America's financial performance has been relatively stable. In 2022, the bank reported a net income of $20.4 billion, a decrease from the previous year's $27.4 billion.
Returns in the S&P 500 over the coming decade are more likely to be in the 3%-6% range, as multiples and margins are unlikely to expand, leaving sales growth, buybacks, and dividends as the main drivers of appreciation.
Bank of America – $2,400
Michael Widmer, head of metals research with Bank of America, believes the gold price could reach $2,400 if the Fed begins to cut rates in the first quarter. He also thinks central bank buying and unsustainable sovereign debt loads will have an impact on the gold price as well.
The estimates from strategists put the median target for the S&P 500 at 5,200 by the end of 2024, implying a decline of less than 1% from Friday's level, according to MarketWatch calculations. Heading into 2024, the median target was around 5,000 (see table below).
BofA's valuation is reasonable
Prospective shareholders will also benefit from a healthy 2.9% dividend yield that can boost returns. However, before investors rush to buy this bank stock, it's best to understand the cyclical nature of the company's operations.
