Bank Of America Corporation (BAC): Today's Featured Banking Loser
Bank of America Corporation (BAC) pushed the Banking industry lower today making it today's featured Banking loser. The industry as a whole closed the day down 2%. By the end of trading, Bank of America Corporation fell 52 cents (-7.1%) to $6.82 on light volume. Throughout the day, 231.6 million shares of Bank of America Corporation exchanged hands as compared to its average daily volume of 310.1 million shares. The stock ranged in price between $6.82-$7.16 after having opened the day at $7.09 as compared to the previous trading day's close of $7.35. Other company's within the Banking industry that declined today were: Tennessee Commerce Bancorp Inc (TNCC), down 85.5%, Hampton Roads Bankshares Inc (HMPRD), down 26.2%, Hampton Roads Bankshares Inc (HMPR), down 26.2%, and First Capital Bancorp Inc (FCVA), down 25.9%. Bank of America Corporation, through its subsidiaries, provides banking and financial services to individuals, small- and middle-market businesses, corporations, and governments primarily in the United States and internationally. Bank of America Corporation has a market cap of $65.5 billion and is part of the financial sector. Shares are down 46% year to date as of the close of trading on Friday. TheStreet Ratings rates Bank of America as a sell. The company's weaknesses can be seen in multiple areas, such as its generally weak debt management and generally disappointing historical performance in the stock itself.
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