On consecutive days, Goldman Sachs and Morgan Stanley downgraded Bank of America and the stocks of many other commercial and investment banks.   All told, Morgan Stanley dropped target prices on 11 banks, while Goldman downgraded 20 banks.

While it may seem presumptuous for GS and MS to take jabs at competitors when both their stocks are way down, they did come to a clear consensus to banking's current biggest loser:  Bank of America.

Bank of America - Biggest Loser.   Citing rumors that BofA has too little capital, Goldman dropped BAC's price target by 23% to $10 from $13. It also lowered 2012 estimates by 17% and 2013 estimates by 18%.

Morgan Stanley's reasoning for the downgrades is an interest rate outlook that argues rates will remain at historic lows into 2013. The firm cut BofA's price target 12% from $17 to $15, and dropped its estimates of BofA's 2012 earnings by 16%.

Other Names from Morgan.   Regions Financial's price target dropped 11% ;  Wells Fargo's target dropped 8%;  Citi's and BNY Mellon's dropped 7% each.  MS said banks best positioned for a weak economy and for extended low interest rates include American Express, JPMorgan and U.S. Bancorp.   

Other Names from Goldman.   Citigroup was dropped 21% to a price target of $41 from $52;  JPMorgan Chase(JPM) dropped 9% to $49 from $54;  Wells Fargo (WFC) dropped 11% to $33.  First Horizon National Corp (FHN_) had the biggest price target cut, to $8.50 from $11.  [The Street, Business Insider]