Morgan Stanley lifts Bank of America Corporation [BAC] price estimate. Who else is bullish?



Bank of America Corporation [NYSE: BAC] stock went on a downward path that fall over -3.07% on Friday, amounting to a one-week price decrease of less than -5.01%. The company report on April 28, 2022 that Two-Thirds of Homebuyers Would Make an Offer Within Three Days of Viewing a Home, Reflecting a Hot Spring Homebuying Season.

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From Moonlighting to Compromises, Homebuyers Are Finding Creative Ways to Achieve Homebuying Aspirations.

Home purchases show little sign of slowing during this Spring homebuying season, characterized by surging demand and low inventory. Homes are being snapped up quickly, with two-thirds (65%) of prospective homebuyers saying they would make an offer within three days of viewing a home, and 20% saying they would make an offer immediately. This is according to the annual Bank of America’s 2022 Homebuyer Insights Report, which explores how homebuyers are navigating an ever-changing homebuying market.

Over the last 12 months, BAC stock dropped by -11.97%. The one-year Bank of America Corporation stock forecast points to a potential upside of 27.42. The average equity rating for BAC stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $296.87 billion, with 8.22 billion shares outstanding and 8.06 billion shares in the current float. Compared to the average trading volume of 52.97M shares, BAC stock reached a trading volume of 47318552 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Bank of America Corporation [BAC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BAC shares is $49.16 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BAC stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Bank of America Corporation shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on March 28, 2022. The new note on the price target was released on March 08, 2022, representing the official price target for Bank of America Corporation stock.

The Average True Range (ATR) for Bank of America Corporation is set at 1.17, with the Price to Sales ratio for BAC stock in the period of the last 12 months amounting to 6.04. The Price to Book ratio for the last quarter was 1.20, with the Price to Cash per share for the same quarter was set at 106.79.

BAC Stock Performance Analysis:

Bank of America Corporation [BAC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.01. With this latest performance, BAC shares dropped by -17.02% in over the last four-week period, additionally sinking by -25.32% over the last 6 months – not to mention a drop of -11.97% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BAC stock in for the last two-week period is set at 29.10, with the RSI for the last a single of trading hit 25.81, and the three-weeks RSI is set at 32.05 for Bank of America Corporation [BAC]. The present Moving Average for the last 50 days of trading for this stock 41.11, while it was recorded at 36.50 for the last single week of trading, and 43.32 for the last 200 days.

Insight into Bank of America Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Bank of America Corporation [BAC] shares currently have an operating margin of +35.65. Bank of America Corporation’s Net Margin is presently recorded at +33.39.

Return on Equity for this stock inclined to 11.78, with Return on Assets sitting at 1.06.


The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BAC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Bank of America Corporation go to 15.40%.

Bank of America Corporation [BAC] Insider Position Details

There are presently around $204,075 million, or 72.20% of BAC stock, in the hands of institutional investors. The top three institutional holders of BAC stocks are: BERKSHIRE HATHAWAY INC with ownership of 1,010,100,606, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 586,192,046 shares of the stock with an approximate value of $20.92 billion in BAC stocks shares; and BLACKROCK INC., currently with $17.59 billion in BAC stock with ownership of nearly -1.884% of the company’s market capitalization.

1,408 institutional holders increased their position in Bank of America Corporation [NYSE:BAC] by around 137,451,820 shares. Additionally, 1,118 investors decreased positions by around 269,731,235 shares, while 325 investors held positions by with 5,312,405,651 shares. The mentioned changes placed institutional holdings at 5,719,588,706 shares, according to the latest SEC report filing. BAC stock had 274 new institutional investments in for a total of 26,422,060 shares, while 117 institutional investors sold positions of 35,253,210 shares during the same period.