2024-06-05 05:34:58 ET
Summary
- Bank of America stock has outperformed the S&P 500 by two times since mid-August 2023 when my initial bullish thesis was published.
- The bank's consolidated revenue and EPS stagnate, but the situation does not look bad when we look at the segments level.
- The Consumer and Global Banking segments are struggling due to temporary headwinds caused by high interest rates.
- On the other hand, the other two segments are demonstrating positive dynamics, adding to my optimism.
- The bank continues driving organic growth to expand its operations, which is vital to maximize its cross-selling potential.
Investment thesis
Read the full article on Seeking Alpha
For further details see:
Bank of America: Building Sustainable Value For Shareholders