Dow Today: Bank Of America Corporation (BAC) Lower

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Dow Jones Industrial Average ( ^DJI) is trading down 45.0 points (-0.3%) at 15,406 as of Monday, Sep 23, 2013, 10:35 a.m. ET. During this time, 137.4 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 495.2 million. The NYSE advances/declines ratio sits at 1,198 issues advancing vs. 1,609 declining with 125 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 28-cent decline (-2%) bringing the stock to $14.15. This single loss is lowering the Dow Jones Industrial Average by 2.19 points or roughly accounting for 4.9% of the Dow's overall loss. Volume for Bank of America Corporation currently sits at 44.3 million shares traded vs. an average daily trading volume of 96.7 million shares.

Bank of America Corporation has a market cap of $156.96 billion and is part of the financial sector and banking industry. Shares are up 25.8% 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 good cash flow from operations, solid stock price performance and increase 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.

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