Dow Today: Bank Of America Corporation (BAC) Lower

The Dow Jones Industrial Average ( ^DJI) is trading down 19.0 points (-0.1%) at 15,281 as of Wednesday, Jul 10, 2013, 12:35 p.m. ET. During this time, 227 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 614.1 million. The NYSE advances/declines ratio sits at 1,222 issues advancing vs. 1,685 declining with 126 unchanged.
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Holding back the Dow today is Bank of America Corporation (NYSE: BAC), which is lagging the broader Dow index with a 19-cent decline (-1.4%) bringing the stock to $13.34. This single loss is lowering the Dow Jones Industrial Average by 1.44 points or roughly accounting for 7.6% of the Dow's overall loss. Volume for Bank of America Corporation currently sits at 52.9 million shares traded vs. an average daily trading volume of 129.7 million shares.

Bank of America Corporation has a market cap of $143.16 billion and is part of the financial sector and banking industry. Shares are up 14.4% year to date as of Tuesday's close. The stock's dividend yield sits at 0.3%.

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.

TheStreet Ratings rates Bank of America Corporation 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.

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