Bank of America Corporation (BAC): What’s the Story?

Bank of America Corporation (BAC) is an interesting player in the Financial space, with a focus on Money Center Banks. The stock has been active on the tape, currently trading at $32.36, down from yesterday’s close by -1.46%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Bank of America Corporation (BAC) currently trades with a market capitalization of $338.89 Billion. That value represents a market adjusting for revenues that have been growing by 17.11 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of $12.14 Billion over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of $0.59 on a per share basis this quarter. Perhaps, that suggests something about why 0.15% of the outstanding share supply is held by institutional investors.

Technical Analysis

No analysis is ever complete without a thorough survey of a stock’s technical behavior. Looking at the stock’s movement on the chart, Bank of America Corporation recorded a 52-week high of $33.05. It is now trading 0.69% off that level. The stock is trading $31.49 its 50-day moving average by -0.87%. The stock carved out a 52-week low down at $22.07.

In recent action, Bank of America Corporation (BAC) has made a move of +3.98% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 16.68, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 1.25% with $10.28 Billion sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of BAC.

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