Bank of America Corp (NYSE:BAC) moving down in the early trades. In the broader market, the Financial Select Sector SPDR ETF (NYSE:XLF), which evaluates the financial stocks in the S&P 500, dropped 0.2%.
Previous night, United Way acknowledged Bank of America with two Summit awards for volunteer engagement and community influence.
In 2011, Bank of America and its employees increased in excess of $35 million through the United Way campaign. Additionally, bank employees volunteered in excess of 1.5 million hours all over the country.
Its competitors include JPMorgan Chase & Co. (NYSE:JPM) that slipped -0.07% to $43.17 with the total traded volume of 5.94 million shares and Citigroup Inc. (NYSE:C) that dropped -0.28% to $32.60 with the total traded volume of 10.63 million shares.
Other financials stocks with bullish trend include Annaly Capital Management, Inc. (NYSE:NLY) up 1.60% to $16.55, The Allstate Corporation (NYSE:ALL) up 4.82% to $34.49 and American Capital Agency Corp. (NASDAQ:AGNC) up 1.81% to $31.70, whereas with bearish trend include Hersha Hospitality Trust (NYSE:HT) down -4.22% to $5.45, Prudential Financial Inc (NYSE:PRU) down -7.88% to $56.14 and Metlife Inc (NYSE:MET) down -0.59% to $35.61.
Bank of America Corp (NYSE:BAC) dropped -1.35% or -$0.11 to trading at $8.05 at 11:24AM EDT following it hit intra day high level of $8.18. The total traded volume in the current trading session is 58.09 million shares as compared to average 224.66 million shares. Its fifty two week trading range is $4.92 – $12.68. The total market capitalization reached $86.74 billion.
The stock price was ahead its 52 week low price with 64.15% and it lagged behind -36.23% from its 52 week maximum mark. Stock price volatility for last month remained 3.17%. In its share capital, the company has 10.78 billion outstanding shares out of which 10.76 billion shares have been floated in the market. For now, stock ownership with company’s management remained 0.01%.
BAC presented a negative weekly performance of -1.21% with respect to its rate of return and it remained -15.70% for the month. However, the performance for a quarter experienced a positive change of 11.02% and it slumped -34.88% for a year and its year to date performance remained in green with 47.03%.
Current stock price is in the downbeat territory taking into account of 20 days moving average with -6.34% and continued bearish run for 50 days moving average with -7.70%. Its earning per share for the past twelve months was -$0.16. Company’s beta coefficient was at 2.32. Beta measures the amount of market risk associated with market trade.
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