Dow Today: Bank Of America Corporation (BAC) Higher

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

The Dow Jones Industrial Average ( ^DJI) is trading up 130 points (+1%) at 13,226 as of Thursday, Nov 1, 2012, 12:35 p.m. ET. During this time, 340.8 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 566.7 million. The NYSE advances/declines ratio sits at 2,212 issues advancing vs. 738 declining with 90 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 28-cent gain (+3%) bringing the stock to $9.60. This single gain is lifting the Dow Jones Industrial Average by 2.12 points or roughly accounting for 1.6% of the Dow's overall gain. Volume for Bank of America Corporation currently sits at 90.7 million shares traded vs. an average daily trading volume of 133.2 million shares.

Bank of America Corporation has a market cap of $98.29 billion and is part of the financial sector and banking industry. Shares are up 64% 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 13.2, below 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 expanding profit margins, notable return on equity and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and generally higher debt management risk.

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