NEW YORK (TheStreet) --Shares of Bank of America Corp. (BAC) continue to decline, down -2.02% to $15.49 on heavy trading volume early on Wednesday afternoon, after the company reported a drop in net income to $2.3 billion, or 19 cents per diluted share for the 2014 second quarter, compared to $4 billion, or 32 cents per diluted share for the year ago period.
Bank of America said revenue for the most recent quarter was down 4% from the 2013 second quarter to $22 billion.
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"We rate BANK OF AMERICA CORP (BAC) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, expanding profit margins, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
BAC data by YCharts
Separately, TheStreet Ratings team rates BANK OF AMERICA CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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