Dow Today: Bank Of America Corporation (BAC) Higher

The Dow Jones Industrial Average ( ^DJI) is trading up five points at 15,456 as of Wednesday, Jul 17, 2013, 11:35 a.m. ET. During this time, 249.9 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 594 million. The NYSE advances/declines ratio sits at 1,992 issues advancing vs. 892 declining with 116 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 30-cent gain (+2.1%) bringing the stock to $14.22. This single gain is lifting the Dow Jones Industrial Average by 2.27 points or roughly accounting for 45.4% of the Dow's overall gain. Volume for Bank of America Corporation currently sits at 114.1 million shares traded vs. an average daily trading volume of 121.6 million shares.

Bank of America Corporation has a market cap of $149.63 billion and is part of the financial sector and banking industry. Shares are up 19.9% 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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