Why Bank Of America (BAC) Stock Continues To Fall Today

NEW YORK (TheStreet) --Shares of Bank of America Corp. (BAC) continue to decline, down -2.02% to $15.49 on heavy trading volume early on Wednesday afternoon, after the company reported a drop in net income to $2.3 billion, or 19 cents per diluted share for the 2014 second quarter, compared to $4 billion, or 32 cents per diluted share for the year ago period.

Bank of America said revenue for the most recent quarter was down 4% from the 2013 second quarter to $22 billion.


Separately, TheStreet Ratings team rates BANK OF AMERICA CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate BANK OF AMERICA CORP (BAC) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, expanding profit margins, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

BAC Chart BAC data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

How to Eat Lunch With Billionaire Warren Buffett

Fed Pares $4.5 Trillion Balance Sheet But Easy-Money Era Isn't Over

Bank Stocks Move Higher as Fed Decides to Start Unwinding Balance Sheet

How to Invest Like Billionaire Warren Buffett

How to Make a Deal Like Billionaire Investor Warren Buffett