NEW YORK (TheStreet) -- Shares of Bank of America (BAC) - Get Bank of America Corp Report were up in late-afternoon trading on Monday as The Institutional View explains that the stock is now a "trading buy" following insider buying.
The research institute's Andrew Addison noted that Bank of America's President of Retail Banking Thong Nguyen bought 30,000 shares of the bank in February at $12.50 each, while Director Frank Bramble purchased 75,000 shares at $12.50 as well, Barron's reports. Three weeks ago, Director Thomas Woods bought 25,000 shares at $14 each.
Additionally, Bank of America "hurdled a downtrend" from December compared to the S&P.
"Of longer-term significance, relative strength held a 5/8 retracement of the decline from the 2014 high to the 2011 low," Addison added, according to Barron's. "Price-wise, BAC hurdled 15 resistance (former support) decisively, after confirming a double bottom."
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.
Bank of America's strengths such as its good cash flow from operations, expanding profit margins, notable return on equity and increase in stock price during the past year outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: BAC
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.