Saturday, July 18, 2015

Bank Of America: Still Not At New Highs


Summary

  • Bank of America produced a solid Q2'15 that finally produced strong earnings.
  • The bank continues reducing noninterest expenses to levels not seen in years.
  • With the bank stock standing to benefit from rising interest rates, BOA offers the unique opportunity to own a financial not already trading at new highs.
   Despite improving results for the large financial institutes, Bank of America (NYSE:BAC) still isn't trading at new multi-year highs. Even lowly Citigroup (NYSE:C) hit new highs after a strong Q2 report. BOA has now made a third attempt at breaking above $18 in just over the last year. Anybody buying the stock back in March 2014 has hardly made a dime in that time period.


 Read the full article on Seeking Alpha.


 Disclosure: Long C. Please read the disclaimer page for more details.

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