This Is What Whales Are Betting On Bank of America
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Bank of America (BAC) by a large investor, as indicated by a large position in the publicly available options history. The sentiment among these big-money traders is 33% bullish and 66% bearish. The whales have been targeting a price range from $20.0 to $33.0 for BAC over the last 3 months. BMO Capital and Morgan Stanley have maintained their Market Perform and Equal-Weight ratings respectively, while RBC Capital has downgraded its action to Outperform.
July 20, 2023 | 2:02 pm
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A large investor has taken a bearish stance on Bank of America (BAC), with a sentiment of 66% bearish among big-money traders. The targeted price range is $20.0 to $33.0. BMO Capital and Morgan Stanley have maintained their ratings, while RBC Capital has downgraded to Outperform.
The bearish stance taken by a large investor, along with the 66% bearish sentiment among big-money traders, indicates a potential downward pressure on BAC's stock price. The targeted price range of $20.0 to $33.0 also suggests a potential downside. However, the maintained ratings by BMO Capital and Morgan Stanley, and the Outperform rating by RBC Capital, may provide some support to the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100