2024-06-06 15:53:01 ET
Summary
- Bank of America's stock has outperformed the S&P 500 with a 39% total return since July 2023.
- The stock currently trades at 1.2x price to book, a relative bargain compared to long term historical price to book valuations.
- The latest concern about consumer credit card debt may be overblown, as charge off rates are moving in the right direction.
A Market Beater
We last covered banking behemoth Bank of America ( BAC ) in July of 2023 (you can read that article here ). At the time, we were bullish on the bank's prospects. During that year the bank's stock had been pummeled by the regional banking crisis (remember that?) and concerns that the bank (and others like it) were putting themselves at risk with massive held-to-maturity [HTM] loan balances on their books....
Read the full article on Seeking Alpha
For further details see:
Bank of America Hasn't Run Out Of Steam Yet