Bank of America stock forecast and price prediction
Updated on:
Apr 22nd, 2021
2
Bank of America forecast brief
- Bank of America stock rose 1.68% to close at $38.72 on the stock market on Wednesday.
- The stock is configuring an uptrend pattern since September 2020, when it bottomed at $22.70. This rally marked a 70.57% gain
- On April 15, Bank of America released its Q1 earnings report
- Robert W. Baird and Royal Bank of Canada posted buy ratings for Bank of America last Friday, with an average target of $43.00
Bank of America stock price forecast
How much a stock will be priced tomorrow or next week is quite unpredictable. Banks and financial organisations post their analysis predicting how a stock will performance in the future.
Along with buy or sell recommendations, brokerage institutions post their price target based on the stock price action and the company fundamental data. Most of these estimates follow the release of new financial data by the company, and usually. If you are a small trader you don't have to buy or sell based on these price targets.
There are 6 price predictions posted for Bank of America that average $42.17. That is a 8.91% than the last price ($38.72).
| Brokerage firm | Price target |
|---|---|
| Apr 1st, 2021 | |
| Deutsche Bank Aktiengesellschaft | $35.00 → $44.00 |
| Apr 7th, 2021 | |
| Barclays | $40.00 → $45.00 |
| Apr 9th, 2021 | |
| Jefferies Financial Group | $33.00 → $41.00 |
| Apr 15th, 2021 | |
| Royal Bank of Canada | $37.00 |
| Apr 16th, 2021 | |
| Robert W. Baird | $38.00 → $42.00 |
| Royal Bank of Canada | $37.00 → $44.00 |
Analysts recommendations
In the last 30 days, 6 analyst ratings were published for Bank of America. General sentiment is bullish, with 5 out of 6 posting positive outlooks
| Brokerage firm | Rating |
|---|---|
| Apr 1st, 2021 | |
| Deutsche Bank Aktiengesellschaft | Buy → |
| Apr 7th, 2021 | |
| Barclays | Buy |
| Apr 9th, 2021 | |
| Jefferies Financial Group | Neutral |
| Apr 15th, 2021 | |
| Royal Bank of Canada | |
| Apr 16th, 2021 | |
| Robert W. Baird | Buy |
| Royal Bank of Canada | Buy |
Earnings and financials
Bank of America ($BAC) had the investors event and posted the report on April 15. Bank of America posted earnings of $0.86 per share on revenue of $22.9 billion. The consensus earnings estimate was $0.66 per share on revenue of $22.1 billion.
In contrast, the EPS for the same quarter last year was $0.40, so reported EPS is a increase of 115.00%. Turnover skyrocketed a 37.07% on an annualized basis in the , from $180.1B to $246.8B last quarter.Bank of America ($BAC) is hosting the earnings call next July. Market expects of $0.75, compared to Q1 that was $0.86.
Bank of America stock: buy or sell?
Is $BAC stock a buy?
Bank of America received 6 ratings in the last 30 days: 5 bullish, 0 bearish and 1 neutral.In the current situation of Bank of America there is not any eligible buy setup. This doesn't mean $BAC will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
Is it time to sell Bank of America stock?
In the current situation of Bank of America there is not any eligible sell setup, so Bank of America stock holders with operations in profit can keep their positions
Bank of America stock technical predictions
Bank of America shares started an uptrend in September 2020, and gained an amazing 70.57%. The price action shows higher peaks and higher lows, and along the way gave some buy points for those who wanted to trade in. Latest low was last February, when price bounced at $29.42. Currently, it moves in a consolidation between its last top ($40.38) and its last bottom ($29.42)
SMAs overview
Supports and resistances
The current resistance levels are:
The current support levels are:
Bollinger bands
Relative strength index
The RSI dropped below the overbought level of 70 in mid-March after just crossing to the overbough zone for 1 day (weak signal). The RSI value on Wednesday was 51.86. Bank of America price only moved a 0.56% since RSI lost the overbought zone
Bank of America stock price history
Bank of America went public priced at an adjusted price1 of $1.69 on Feb 1973. Since then, BAC stock surged by 2,191.12%, with an average of 45.65% per year. If you had invested $1,000USD in Bank of America stock on Feb 1973, it would worth $22,911.24 today.
1: Adjusted price after possible price splits or reverse-splits
Disclaimer:
The viewpoints written in this post are personal and not recommendations for you to buy or sell stocks. The author of this text does not have any knowledge of the specific circumstances of the reader, his or her finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are posted for general educational purposes onlyBank of America summary
| Wednesday, April 21st, 2021 | |
|---|---|
| Open | $37.75 |
| Close | $38.72 |
| Day range | $37.41 - $38.78 |
| Previous close | $38.08 |
| Session gain | 1.68% |
| Average true range | $0.96 |
| 50d mov avg | $37.13 |
| 100d mov avg | $33.70 |
| 200d mov avg | $29.20 |
| Earnings date | July 15th, 2021 |