2024-04-18 08:30:00 ET
Summary
- Bank of America stock fell markedly despite posting a solid earnings release.
- BofA is confident of reaching a bottom in its net interest income in Q2, with a growth inflection in the second half.
- Concerns over its HTM securities portfolio are misplaced, as the headwinds have likely peaked.
- BAC isn't aggressively valued, offering long-term investors another opportunity to accumulate.
- Investors should consider buying sooner rather than later to avoid regrets.
Bank of America Corporation ( BAC ) investors suffered a rude awakening on April 16, as the stock declined 3.5% for the day after BofA posted its first-quarter earnings release. While Bank of America surpassed analysts' estimates, it wasn't enough to withstand the market onslaught as investors parsed whether the rally from BAC's October 2023 lows had gone too far ahead....
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Bank of America: Seize The Opportunity Before It's Gone