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Bank of America Corporation Message Board

  • staceyspencersd staceyspencersd Apr 30, 2011 10:40 AM Flag

    Is it realistic to think that BAC is going to trade sideways

    for two years. I think It can pop. I think interest rates will go up starting in the 3rd quarter from what Ive read and heard on TV. PLus they dont stay this low forever. It will help the bank initially. Mostly BAC , the biggest deposit holder in USA. Q3 BAC should rally on that. Q2 one step closer to normallized earnings and of course market loooks out 6 months. Thoughts please.

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    • Its time to wake up!!!! BAC is in a hole and cannot see light... They got themselves into this mess and they are dragging stock holders and backers of their bank down with them... Bank of America CANNOT CONTINUE THIS TREND.. THEY WILL, I REPEAT WILL GO BANKRUPT...

    • I 've got in @12.25 and only my concerning for now is whether the price is the bottom or not. I thought it was. Now, I still think the same and it'll only go up shortly, after the consolidation,IMO.
      After all, it's time to buy, my friends.

      • 1 Reply to flyingfishroe
      • BAC is currently earning $5 bn a quarter if you were to remove the extraordinary reserves for mortgage settlement issues. They are now fully reserved for everything except the AG settlement -- and they may even have enough tucked away to partially cover this one. That settlement will happen this summer. With any kind of stabilization in housing prices -- and it's my opinion we're essentially there now --, then we have a company earning $2 per share. So we might be a lot closer to a recovery in share price than the cassandras would have you think. The mbs putback issue is GONE. With no fraud (and this is what the successor issue is all about) the case for putback disappears. For some reason the financial press and perhaps even some of the analysts don't get it. Someone is going to wake up at some point. The stock is ridiculously underpriced and is poised like a sling shot.

    • Looking out 20 months, i.e. year-end 2012, a very conservative target is $21. In fact everyone seems to think it will do much better than that, with $28 being a consensus number. But let's choose the more conservative $21. That would be an annualized 44% return. What else could deliver such results? Apple?

      • 1 Reply to minter47
      • It's hard to believe BAC is still trading @ $12. Six months ago when the stock dipped to $11 and change things were vastly different. The put back issues were front and center. I remember when listing to the 3rd & 4th QTR/10 conference calls, more than 90% of analysts questions were about put-back and especially GSEs since those were considered the bank's most vulnerable liabilities. Monoline & investors put backs claims were always thought of as a long shot and more of a nascence than a very credible or legitimate claims. To quote BOA CFO "Those people were throwing everything over the wall hoping something will stick". Also credit card division was still a major drag on earning losing money for almost 10 plus qtrs with what seemed to be no end in sight. Now the bank's situation has vastly improved. The GSEs put back were settled in what most analysts believe a fairly favorable terms to BOA(anyone still remember the $100 billions plus shorts/hedgies were talking about almost none stop regarding BAC GSEs exposures). Also the credit card division is finally contributing to earning with close to $2B as of last qtr. Are there still issues that may cloud future earning if u r long BAC? Absolutely. Housing prices, AGs robo-sign shenan-igans, Economy/ unemployment, Pending lawsuits,, etc. Having said that, i believe we are in the fifth or even the sixth inning from getting to normalized earning and the stock should move violently higher once we get to the 7th inning and beyond which is not 2 far IMHO. Always keep in mind that wall street is forward looking and if u wait for the ninth inning to buy the stock it could be 2 late.

    • These are all good responses. I agree.

    • Analysts keep citing loan growth. If they show some loan growth, BAC pops a little bit. They also need to keep working on their putback problems.
      The difference in market cap between JP Morgan and Bank of America is almost 60 billion. That difference will have to close given that BAC is the largest bank in the United States.

    • BAC will move upward before the end of the year. The pain is almost over. If not this current quarter, the next we will see things start to normalize. This is a great time to take a position in BAC. I, unfortunately, took mine positions 6-9 months too early but should be above water by Thanksgiving.

 
BAC
17.62+0.09(+0.51%)Dec 19 4:04 PMEST

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