Morgan Stanley Reiterates Buy Rating on Bank of America
Morgan Stanley maintains its buy rating on Bank of America with a target price of $67, a 17.59% upside from the current price.
Key Points
- Morgan Stanley reiterated its buy rating for Bank of America on June 29, 2026, with a price target of $67.
- Morgan Stanley's $67 price target implies 17.59% upside from Bank of America Corporation's ($BAC) current $56.98 share price.
- Bank of America (NYSE:BAC) shares traded near $57.88 on Monday, with a P/E ratio of 14.4 and a market cap of $410.8 billion.
- Analysts maintain a strong buy consensus with an average target price of $63.70, supported by other firms like Truist Securities and Citigroup.
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Morgan Stanley reiterated its buy rating for Bank of America Corporation (NYSE:BAC) on June 29, 2026, setting a price target of $67. The stock was trading around $57.88 on Monday.
Morgan Stanley vs. the S&P 500
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Bank of America Corporation Stock Down 8.6%
Shares of NYSE:BAC traded near $57.88 on Monday. Bank of America has a market cap of approximately $410.8 billion and a P/E ratio of 14.4. The stock's 52-week low is $44.75, and its high is $59.20. The 50-day moving average is $53.31, while the 200-day average is $52.43.
$BAC price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Bank of America reported revenue of $109.59 billion, reflecting a growth of 8.1%. The net margin stood at 28.96%, with a return on equity of 10.64%. Next earnings are expected on July 14, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
6 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 8.6%. Revenue met estimates.
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Profit surprise
Operating income missed by 10 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
6 target raises.
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Earnings quality
Gross margin up 40.5 points. Operating margin up 17.1 points. Positive free cash flow.
Earnings Call Summary
Bank of America delivered strong first quarter results with revenue up seven percent year over year to thirty point three billion dollars and earnings per share up twenty five percent to one dollar and eleven cents. The bank benefited from robust client activity, improved efficiency with operating leverage of two hundred ninety basis points, and stable asset quality with provision expense down to one point three billion. Management highlighted strength across all business segments, particularly in investment banking which was up twenty one percent, equities trading which had its best quarter ever, and wealth management which showed solid client flows and margin improvement.
Guidance Bank of America raised its full year net interest income growth guidance to six to eight percent from prior expectations. The bank expects continued balanced loan and deposit growth to support this outlook, with net interest income already up nine percent year over year in the first quarter. Management noted that net interest income exceeded expectations at fifteen point nine billion dollars.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Bank of America pays an annual dividend of $1.12, yielding 1.94%. The dividend payout ratio is 27.3%.
Insider Buying and Selling at Bank of America Corporation
Brian Moynihan, Chair and CEO, executed several transactions on June 15, 2026. He both bought and sold 18,083 shares at different prices, including a sale at $55.87.
Analysts Set New Price Targets
On June 29, 2026, Morgan Stanley maintained its buy rating with a $67 target. Truist Securities and Citigroup also kept buy ratings, with targets of $64 and $66, respectively. The consensus among analysts is a strong buy, with an average target price of $63.70 from 22 opinions.
About Bank of America
Bank of America Corporation offers a wide range of financial services to individuals, businesses, and institutions worldwide. Based in Charlotte, North Carolina, and led by CEO Brian Moynihan, the company operates through segments like Consumer Banking, Global Wealth & Investment Management, and Global Markets. With over 212,000 employees, it provides banking, investment, and risk management services.
Bottom Line
Morgan Stanley's reaffirmation of a buy rating on Bank of America highlights ongoing confidence in the bank's prospects. While 13F filings are backward-looking, they offer insights into institutional sentiment. Investors keep a close watch on analyst ratings and targets to gauge market expectations.
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