Dow Today: Bank Of America Corporation (BAC) Lower

The Dow Jones Industrial Average ( ^DJI) is trading down 67.0 points (-0.5%) at 13,057 as of Thursday, Mar 22, 2012, 1:35 p.m. ET. During this time, 393.1 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 688 issues advancing vs. 2,253 declining with 107 unchanged.

Holding back the Dow today is Bank of America Corporation (NYSE: BAC), which is lagging the broader Dow index with a 14-cent decline (-1.5%) bringing the stock to $9.68. This single loss is lowering the Dow Jones Industrial Average by 1.06 points or roughly accounting for 1.6% of the Dow's overall loss. Volume for Bank of America Corporation currently sits at 156.9 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 76.6% year to date as of Wednesday's close. The stock's dividend yield sits at 0.4%.

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. The company has a P/E ratio of 29.8, below 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 hold. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally poor debt management and a generally disappointing performance in the stock itself.
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