Bank of America survived the weak Q1 with solid earnings and growth in TBV.
The bank continues to protect the downside while offering a big catalyst for future NII growth.
The stock is incredibly cheap as the market fears a repeat of the last crisis that isn't in the cards.
The quarterly results for Bank of America (NYSE:BAC) were not perfect, but the valuation doesn't require spotless numbers. The large financial continues to trade below book value though the number grew nearly 10% for the year.