PennyStocksUpdate.biz is devoted to fetch you the most exclusive stocks in the market today. Apart from scanning the markets for the most underrated stocks. We propel those victors directly to your email inbox first ahead of the rest of the marketplace gets a prospect.
New York, NY -- (SBWIRE) -- 03/11/2013 -- Bank of America Corporation (NYSE:BAC) is a bank holding company, and a financial holding company. Bank of America is a financial institution, serving individual consumers, small and middle market businesses, corporations and Governments with a range of banking, investing, asset management and other financial and risk management products and services.
Without further ado, then, here are five reasons this bear found to be bullish on Bank of America Corp (NYSE:BAC).
1. Stunning 2012 stock performance To fans of the bank, this is no secret, but for any new readers, it's well worth noting: Bank of America Corp (NYSE:BAC) doubled its stock price in 2012. Smarties who bought or held stock at the start of last year surely watched with glee as the price rose from $5.81 to $11.61, for a return of precisely 100.17%.
2. A really inspiring (or really terrifying) valuation Bank of America Corp (NYSE:BAC)'s price-to-book ratio is currently 0.59. That's either really great, or really scary.
It's really great if you believe the superbank has completely turned itself around -- cleaning up its balance sheet and refocusing its business model. If you believe this, you believe -- at a P/B of 0.59 -- Bank of America Corp (NYSE:BAC) is a steal.
3. Bank of America Corp (NYSE:BAC) is slimming its workforce In September 2011, announced it would lay off 30,000 workers in the following few years. That's 10% of its workforce.
4. Bank of America Corp (NYSE:BAC) might be nearing the end of its crisis-related payouts The superbank just settled with government-owned housing giant Fannie Mae for more than $10 billion to settle soured mortgages, again left over from the housing boom. Some analysts -- smarter than I, no doubt -- have hailed this as the potential end of B of A's crisis-related troubles, predicting the bank will be able to really reach its full potential now that the pesky financial crisis is behind it.
5. Bank of America Corp (NYSE:BAC) has a CEO who seems to be on his game Reportedly, Brian Moynihan took on the job of B of A CEO when few others wanted it, valiantly undertaking the job of streamlining and refocusing the leviathan known as Bank of America, cutting costs and people as he deems necessary.
Should Investor Buy OR Sell This Stock : CLICK HERE
Neither PennyStocksUpdate.biz nor its owners, operators, affiliates or anyone disseminating information on its behalf is registered as an Investment Advisor or broker dealer in any jurisdiction whatsoever and none of the information provided by PennyStocksUpdate.biz, owners, operators, affiliates or anyone disseminating information on its behalf should be construed as investment advice or an investment recommendation.PennyStocksUpdate.biz makes no recommendation that the securities of the companies profiled should be purchased, sold or held by individuals or entities that learn of the profiled companies through PennyStocksUpdate.biz. Investing in securities is speculative and carries a high degree of risk and no investment should be made unless you can afford to lose your entire investment. It is possible that an investor's entire investment may be lost or impaired due to the speculative nature of the companies profiled. Please consult a broker before purchasing or selling any securities viewed on or mentioned here in..
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)