Dow Today: Bank Of America Corporation (BAC) Higher

The Dow Jones Industrial Average ( ^DJI) is trading up 176 points (+1.4%) at 12,749 as of Friday, Jul 13, 2012, 1:35 p.m. ET. During this time, 383.1 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 683.8 million. The NYSE advances/declines ratio sits at 2,473 issues advancing vs. 509 declining with 95 unchanged.

The Dow component leading the way higher looks to be Bank of America Corporation (NYSE: BAC), which is sporting a 24-cent gain (+3.3%) bringing the stock to $7.72. This single gain is lifting the Dow Jones Industrial Average by 1.82 points or roughly accounting for 1% of the Dow's overall gain. Volume for Bank of America Corporation currently sits at 105.9 million shares traded vs. an average daily trading volume of 184.1 million shares.

Bank of America Corporation has a market cap of $82.23 billion and is part of the financial sector and banking industry. Shares are up 37.2% 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.
null

If you liked this article you might like

Here's How to Invest Like a Billionaire

How to Invest Like Billionaire Warren Buffett

How to Live Just Like Billionaire Warren Buffett

Bank Stocks Move Higher Ahead of Federal Reserve Meeting

All Eyes on the Godfather of Central Banking as Fed Has Huge Meeting This Week