Dow Component Bank Of America Corporation (BAC) To Go Ex-dividend Tomorrow

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 83 points (+0.6%) at 13,867 as of Tuesday, Feb 26, 2013, 10:35 a.m. ET. During this time, 184.8 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 624.3 million. The NYSE advances/declines ratio sits at 1,451 issues advancing vs. 1,336 declining with 158 unchanged.
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Wednesday, February 27, 2013 is the ex-dividend date for Dow component Bank of America Corporation (NYSE: BAC). Owners of shares as of market close today will be eligible for a dividend of one cent per share. At a price of $11.04 as of 10:36 a.m. ET, the dividend yield is 0.3% compared to the average Dow component yield of 2.7%.

The average volume for Bank of America Corporation has been 165.2 million shares per day over the past 30 days. Bank of America Corporation has a market cap of $123.3 billion and is part of the financial sector and banking industry. Shares are down 1.5% year to date as of Monday's close.

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 45.8, equal to the average banking industry P/E ratio.
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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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