10. Bank of America (BAC), the ninth-largest stock in the S&P 500, has seen its shares tumble 53% this year, resulting in a market value of $64.7 billion. Its shares hit a 52-week low of $6 on Sept. 22.
The bank's ill-fated $4 billion acquisition of troubled Countrywide Mortgage in 2008 has resulted in continued heavy losses due to the high rate of foreclosures on the mortgages it created. The company also faces potential legal liabilities of tens of billions of dollars from investor lawsuits because of this deal.The bank also faces the economic challenges that other U.S. banks do, including weak new loan growth and a low, flat yield curve, which will likely pinch net interest margins for the foreseeable future. Indicative of the turmoil at Bank of America, early this month it announced that it is replacing two of its top executives, Sallie Krawcheck, president of global wealth and investment management, and Joe Price, president of consumer and small business banking Analysts give its shares eight "strong buy" ratings, one "moderate buy," 13 "holds," and one "moderate sell," according to TheStreet Ratings. >>To see these stocks in action, visit the 10 Worst-Performing S&P 500 Stocks portfolio on Stockpickr.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV