7. Bank of America (BAC) offers a range of services including investment, asset management and financial and risk management products and services.
Provisioning for credit losses in the second quarter of 2011 declined 60% compared to the corresponding quarter in 2010. Net charge-offs fell for the fifth consecutive quarter, indicating enhanced credit quality across the consumer and commercial portfolios and underwriting changes implemented earlier.
Bank of America extended credit worth $147 billion, including $84 billion in commercial non-real estate loans, $11 billion in commercial real estate loans, and the rest to consumers and small businesses.Regulatory capital ratios were higher than the earlier guidance with the Tier-1 common equity ratio at 8.23% at the end of the quarter and Tier-1 common ratio above 8%. The stock trades at 6.4 times its estimated 2011 earnings with a consensus of analysts projecting an upside of 66% over the next the next year.
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 + 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