Dow Today: Bank Of America Corporation (BAC) Leads The Day Higher

The Dow Jones Industrial Average (^DJI) is trading up 169 points (+1.3%) at 12,771 as of Friday, Jun 29, 2012, 9:35 a.m. ET. During this time, 45.7 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 701.7 million. The NYSE advances/declines ratio sits at 2,581 issues advancing vs. 224 declining with 75 unchanged.

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The Dow component leading the way higher looks to be Bank of America Corporation (NYSE:BAC), which is sporting a 30-cent gain (+3.8%) bringing the stock to $8.04. This single gain is lifting the Dow Jones Industrial Average by 2.27 points or roughly accounting for 1.3% of the Dow's overall gain. Volume for Bank of America Corporation currently sits at 20.7 million shares traded vs. an average daily trading volume of 200 million shares.

Bank of America Corporation has a market cap of $83.73 billion and is part of the financial sector and banking industry. Shares are up 39.7% year to date as of Thursday's close. The stock's dividend yield sits at 0.5%.

Bank of America Corporation, through its subsidiaries, provides various banking and financial products and services to individual consumers, small-and middle-market businesses, institutional investors, corporations, and governments in the United States and internationally.

TheStreet Ratings rates Bank of America Corporation as a hold. The company's strengths can be seen in multiple areas, such as its expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally poor debt management and weak operating cash flow.

• You can view the full Bank of America Ratings Report.

 

For more information on Bank of America Corporation click any of the following:

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