Dow Today: Bank Of America Corporation (BAC) Higher

The Dow Jones Industrial Average ( ^DJI) is trading up 26 points (+0.2%) at 15,490 as of Monday, Jul 15, 2013, 1:35 p.m. ET. During this time, 248.3 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 608.3 million. The NYSE advances/declines ratio sits at 1,815 issues advancing vs. 1,137 declining with 113 unchanged.
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The Dow component leading the way higher looks to be Bank of America Corporation (NYSE: BAC), which is sporting a 10-cent gain (+0.8%) bringing the stock to $13.88. This single gain is lifting the Dow Jones Industrial Average by 0.76 points or roughly accounting for 2.9% of the Dow's overall gain. Volume for Bank of America Corporation currently sits at 64.7 million shares traded vs. an average daily trading volume of 128.4 million shares.

Bank of America Corporation has a market cap of $145.64 billion and is part of the financial sector and banking industry. Shares are up 16.4% year to date as of Friday'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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