Bank Of America Corporation (BAC): Today's Featured Banking Winner

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

Bank of America Corporation ( BAC) pushed the Banking industry higher today making it today's featured banking winner. The industry as a whole closed the day up 1.1%. By the end of trading, Bank of America Corporation rose $0.35 (3.0%) to $12.07 on average volume. Throughout the day, 174,632,990 shares of Bank of America Corporation exchanged hands as compared to its average daily volume of 153,164,700 shares. The stock ranged in a price between $11.90-$12.16 after having opened the day at $11.92 as compared to the previous trading day's close of $11.72. Other companies within the Banking industry that increased today were: Carver Bancorp ( CARV), up 9.7%, Centerstate Banks ( CSFL), up 9.7%, First Security Group ( FSGI), up 9.7% and Atlantic Coast Financial ( ACFC), up 8.2%.
  • EXCLUSIVE OFFER: Jim Cramer's Protege, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

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. Bank of America Corporation has a market cap of $126.2 billion and is part of the financial sector. The company has a P/E ratio of 27.8, above the S&P 500 P/E ratio of 17.7. Shares are up 0.4% year to date as of the close of trading on Monday.

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 find that the company has favored debt over equity in the management of its balance sheet.

On the negative front, Credit Suisse ( DOIL), down 10.5%, PSB Holdings ( PSBH), down 9.7%, Emclaire Financial Corporation ( EMCF), down 6.7% and Broadway Financial ( BYFC), down 5.9%.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the banking industry could consider KBW Bank ETF ( KBE) while those bearish on the banking industry could consider ProShares Short KBW Regional Bankng ( KRS).

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.
null

If you liked this article you might like

24 Stocks Hedge Funds Are Loving Right Now

24 Stocks Hedge Funds Are Loving Right Now

It's Dumb to Think Amazon Will Be Able to Skirt Regulators Forever

It's Dumb to Think Amazon Will Be Able to Skirt Regulators Forever

Citigroup Gives CEO Corbat 48% Pay Raise as Profitability Misses Goal

Citigroup Gives CEO Corbat 48% Pay Raise as Profitability Misses Goal

Worst-In-Class Goldman Sachs CEO Blankfein Gets 9% Pay Raise

Worst-In-Class Goldman Sachs CEO Blankfein Gets 9% Pay Raise

Why Bank of America and Goldman Sachs Shares Are Perfect Inflation Hedges

Why Bank of America and Goldman Sachs Shares Are Perfect Inflation Hedges