Changes in Signals Identified: Brookfield Asset Management Inc. (BAM), Bank of America Corporation (BAC)

You should consider shares of Brookfield Asset Management Inc. (NYSE:BAM) and Bank of America Corporation (NYSE:BAC) if you are looking for a great stocks to invest in. Starting with the BAM shares, which traded at $58.41 at the close of the recent session, gaining 0.34%. On Friday, the company’s shares shed $0.2 from its value which represented in intraday trading. The stock is now 31.61% higher in year-to-date (YTD) trading. BAM’s intraday high was $58.72 while its lowest price touched $58.235. The stock’s 52-week high price is $58.23, which means the current price is at 0.31%. In terms of trading activity, the daily trading volume fell to 540580 against 200-day average trading volume of 1,530,804 shares.

What are analyst forecasts for Brookfield Asset Management Inc. (NYSE:BAM)?

At a consensus rating of 4.25, BAM is trending as a streaking Moderate Buy, as it has been the case a month ago when 4 analysts called it a Strong Buy. Two months ago, 3 analysts recommended, on average, that BAM stock is a Strong Buy. The Financial company’s shares’ overall bullish trend saw it close lower on Friday compared to its opening price of $58.46 on the day.

Forecasts for Brookfield Asset Management Inc. (NYSE:BAM) give the stock a fair value for the growth of 10.14% from its last price. The 12-month price forecast for the stock by analysts puts the stock’s mean price target at $65.00, which means the price per share could rise by nearly $6.59. The price range target is between a low of $60.00 and a high of $73.00. The stock would need to gain by about $19.99 to hit the estimated high or 0.63% from its 12-month low.

The consensus among 9 analysts is that it is a good time for one to Buy in the Brookfield Asset Management Inc. 8 analysts rate BAM as a Buy, with 0 of 9 analysts rate it as a Sell. 0 have valued the stock as Overweight and 1 have recommended that investors Hold.

Brookfield Asset Management Inc. (NYSE:BAM) Upgrades and Downgrades

In terms of rating changes, Citigroup on November 18, 2019, Downgrade Brookfield Asset Management Inc. (BAM) at Neutral. Analysts at Citigroup have assigned a Buy rating for the stock in their research note on November 13, 2018 with an estimated price target of $49.50. Moreover, Credit Suisse analysts issued a rating of Outperform for the stock on November 09, 2018. On September 28, 2017, the stock earned a Outperform rating due to an analyst call from RBC Capital Mkts, while analysts from RBC Capital Mkts on August 11, 2017 suggested that the stock is Outperform.

Bank of America Corporation (NYSE:BAC) adds -$0.1 on Friday

The BAC stock has risen 35.23% year-to-date and is currently trading at $33.32, which is -0.83% below its 52-week high. The company shares lost -0.30% on the day and have risen nearly 47.04% off a low hit. At current levels, Bank of America Corporation has a valuation of about $72.15B. As of 11/29/19, this stock has risen 1.46% during the week and closed at $33.42 in the previous session. However, recent Bank of America Corporation stock performance shows that BAC shares are 5.38% up over the last month, and 21.12% up for the last three months.

Earnings per share (EPS) estimates for the current quarter are $0.63, with the trailing 12-month share earnings at $2.71. The ratio is expected to be up by 3.80% for the current year 2019 and 9.60% for next year. Over the next 5-year period, earnings per share will be 7.21%. But will the BAC stock surprise in the current quarter results, where the $0.56 actual EPS reported on 9/29/2019 surprised by 9.80% or was higher by $0.05 from the estimated $0.51.

Sales Growth to decline -0.30% for the year

How well will Bank of America Corporation perform as a business over the current quarter, year and next 5-year period? Compared to the year-ago quarter, analysts forecast the company to bring in between $22.14B and $22.69B in current quarter sales. The consensus estimated for the current quarter is $22.49B from sales. Forecasts for this fiscal year are between $90.8B and $92.13B and the consensus estimate for sales is at $91.74B. BAC has its next quarter sales estimates at between $22.65B and $23.51B, with the quarter-over-quarter growth estimates at -0.80% and the annual growth forecast for the year at -0.30%.

Who owns shares in Bank of America Corporation (BAC)?

Let’s briefly focus on the share ownership of the Bank of America Corporation (NYSE:BAC) stock, where we find that 70.43% of shares are held by institutions. Berkshire Hathaway, Inc tops the list of institutional owners as it is holding 927.25 million shares or 10.31% of shares outstanding. Vanguard Group, Inc. (The) and Blackrock Inc. held 635.87 million and 548.23 million representing 7.07% and 6.09% respectively at the close of the last trading session. As of Sep 29, 2019, State Street Corporation accounted for 367.44 million shares at over 10.72 billion. This represented 4.08% of shares outstanding. FMR, LLC held 274.22 million shares at over 8.0 billion representing 3.05% of shares outstanding.

BAC Insider Activity

Insider activity can also give a signal in terms of price direction. Looking at Bank of America Corporation (BAC), a total of 46500 shares have been sold by insiders over the last 6 months while 181028 shares were added in the same time span. On 3/01/2019, Chairman & Chief Executive Officer by the name Moynihan Brian T sold 261488.0 shares worth $7.7 million at the price of $29.31 per share. Filings also show that Montag Thomas Kell sold a total of 183737.0 shares on 3/01/2019 valued at $5.4 million. Since the last insider activity, the company’s share price has climbed 13.68%.