Bank Of America Stock Falls On Unusually High Volume (BAC)
Bank of America Corporation (NYSE:BAC) is trading at unusually high volume Wednesday with 299.1 million shares changing hands. It is currently at two times its average daily volume and trading down 58 cents (-4.7%).
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. NEW YORK ( TheStreet) -- Bank of America Corporation (NYSE: BAC) is trading at unusually high volume Wednesday with 299.1 million shares changing hands. It is currently at two times its average daily volume and trading down 58 cents (-4.7%) at $11.70 as of 3:26 p.m. ET.
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Bank of America has a market cap of $129.65 billion and is part of the financial sector and banking industry. Shares are up 5.8% year to date as of the close of trading on Tuesday. Bank of America Corporation, through its subsidiaries, provides various banking and financial products and services for 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 47.9, above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Bank of America as a hold. The company's strengths can be seen in multiple areas, such as its expanding profit margins, solid stock price performance and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and weak operating cash flow. You can view the full Bank of America Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100% See his top picks for 14-days FREE.