Dow Today: Bank Of America Corporation (BAC) Higher
The Dow Jones Industrial Average (^DJI) is trading up 44 points (+0.3%) at 12,993 as of Tuesday, Feb 21, 2012, 12:35 p.m. ET. During this time, 373.4 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 818.6 million. The NYSE advances/declines ratio sits at 1,813 issues advancing vs. 1,127 declining with 115 unchanged. The Dow component leading the way higher looks to be Bank of America Corporation (NYSE:BAC), which is sporting a 15-cent gain (+1.9%) bringing the stock to $8.17. This single gain is lifting the Dow Jones Industrial Average by 1.14 points or roughly accounting for 2.6% of the Dow's overall gain. Volume for Bank of America Corporation currently sits at 154 million shares traded vs. an average daily trading volume of 271.9 million shares. Bank of America Corporation has a market cap of $73.89 billion and is part of the financial sector and banking industry. Shares are up 44.2% year to date as of Friday's close. The stock's dividend yield sits at 0.5%. 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. The company has a P/E ratio of 802, above the average banking industry P/E ratio of 729 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Bank of America Corporation 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.
- You can view the full Bank of America Ratings Report.
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