Bank of America Stock Jumps 3.2% - Potential for Further Growth?

Bank of America stock is trading -5.94% below its average target price of $39.25 after marking a 3.2% during today's afternoon session. Analysts are giving the Large-Cap Banking company an average rating of buy and target prices ranging from $34.0 to $45.0 per share.

Bank of America's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 1.1%. The stock's short ratio is 1.74. The company's insiders own 13.18% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Another number to watch is the company's rate of institutional share ownership, which now stands at 58.9%. In conclusion, we believe there is positive market sentiment regarding Bank of America.

Institutions Invested in Bank of America

Date Reported Holder Percentage Shares Value
2023-12-31 Berkshire Hathaway, Inc 13% 1,032,852,006 $38,130,415,899
2023-12-31 Vanguard Group Inc 8% 608,335,971 $22,458,303,266
2023-12-31 Blackrock Inc. 6% 491,633,287 $18,149,920,409
2023-12-31 State Street Corporation 4% 290,740,901 $10,733,455,915
2023-12-31 FMR, LLC 2% 187,473,853 $6,921,084,476
2023-12-31 JP Morgan Chase & Company 2% 149,049,745 $5,502,558,675
2023-12-31 Geode Capital Management, LLC 2% 132,478,492 $4,890,787,807
2023-12-31 Norges Bank Investment Management 1% 110,911,996 $4,094,604,562
2023-12-31 Morgan Stanley 1% 110,893,334 $4,093,915,605
2023-12-31 Price (T.Rowe) Associates Inc 1% 104,030,844 $3,840,568,953
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.