Overall market sentiment has been high on Bank of America Corp (BAC) stock lately. BAC receives a Bullish rating from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.
InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.
Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.
What's Happening With BAC Stock Today?
Bank of America Corp (BAC) stock has fallen -3.51% while the S&P 500 is up 0.62% as of 3:34 PM on Thursday, May 28. BAC is down -$0.91 from the previous closing price of $25.98 on volume of 63,477,864 shares. Over the past year the S&P 500 has gained 9.02% while BAC is down -10.14%. BAC earned $2.45 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 10.21.
More About Bank of America Corp
Bank of America is one of the largest financial institutions in the United States, with more than $2.3 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, home mortgage lending, vehicle lending, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth management services, as does U.S. Trust private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries.