Bank Of America Reaches New 52-Week High (BAC)

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) hit a new 52-week high Wednesday as it is currently trading at $13.62, above its previous 52-week high of $13.60 with 26.6 million shares traded as of 10:11 a.m. ET. Average volume has been 143 million shares over the past 30 days.

Bank of America has a market cap of $145.64 billion and is part of the financial sector and banking industry. Shares are up 15.8% 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 40.9, above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Bank of America as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet. You can view the full Bank of America Ratings Report.

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