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.