Alert: Positive Investment/Fundamental Signals (12/14/23)-Bank of America Corp (NYSE: BAC)


Bank of America Corp (NYSE: BAC) has recently enjoyed extremely meaningful positive changes in investment behavior: the stock rose on very heavy volume, and positive upside/downside volume developed.

Notable positive changes in fundamentals have recently occurred for Bank of America Corp (NYSE: BAC): significant quarterly earnings acceleration occurred, and significant quarterly sales acceleration occurred.

In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.


Current PriceTarget Research Rating

BAC’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.

Bank of America has a current Value Trend Rating of A (Highest Rating). This rating combines complementary signals from two proprietary PTR measures of a stock’s attractiveness. Bank of America has a slightly positive Power Rating of 66 and a very high Appreciation Score of 95, and the Highest Value Trend Rating results.

Recent Price Action

Bank of America Corp (NYSE: BAC) stock closed at $33.94 on 12/14/23 after a very large increase of 5.9%. Moreover, this advance was accompanied by exceptionally high trading volume at 221% of normal. The stock has risen 11.2% during the last week and has been strong relative to the market over the last nine months.

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