Bank of America Corporation (BAC) Moves Lower on Volume Spike for March 15

Equities Staff  |

Bank of America Corporation (BAC) traded on unusually high volume on Mar. 15, as the stock lost 0.54% to close at $29.30. On the day, Bank of America Corporation saw 81.48 million shares trade hands on 116,312 trades. Considering that the stock averages only a daily volume of 50.85 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $32.57 and $22.66 over the last 52-weeks, its 50-day SMA is now $28.20, and its 200-day SMA $28.49. Bank of America Corporation has a P/B ratio of 1.17. It also has a P/E ratio of 11.2.

Bank of America Corporation is one of the largest financial institutions in the United States, with more than $2 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.

Headquartered in Charlotte, NC, Bank of America Corporation has 204,000 employees and is currently under the leadership of CEO Brian T. Moynihan.

For a complete fundamental analysis analysis of Bank of America Corporation, check out’s Stock Valuation Analysis report for BAC.

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To get more information on Bank of America Corporation and to follow the company’s latest updates, you can visit the company’s profile page here: BAC’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

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