7. Bank of America (BAC) is one of the world's largest financial conglomerates, offering a range of services that include banking, investment, asset management, and financial and risk management products and services.
The bank reported net income of $2 billion for the first quarter of 2011, compared to $3.2 billion in the year-earlier period and a net loss of $1.2 billion in 2010 fourth quarter. Higher net income resulted from lower credit costs, higher fee income, and investment gains.
Credit quality improved in the first quarter of 2011, with net write-offs declining across most portfolios compared to the first quarter of 2010. The bank's loan book expanded $101 billion in the first quarter of 2011 -- the third quarter of consecutive loan growth -- while deposits grew 5%. Bank of America is estimated to have provided $144 billion in the first quarter of 2011 towards first mortgages, consumer business cards, home equity products, and other consumer credit.The Tier-1 capital ratio at the end of the March quarter was 11.2% and capital adequacy ratio was 15.8%. The stock trades at 11.4 times its estimated 2011 earnings and is likely to deliver 43% return in the next one year.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV