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Bank of America Lost 30%, but Sent a Warning First

The coronavirus panic coupled with the Fed’s emergency 50 basis points rate cut sent bank stocks plunging very quickly. Bank of America, one of the “too big to fail”, is down almost 30% from its December 2019 high. However, BAC is in a much better financial shape than ten years ago. In fact, the company…

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Bank of America Breaking Out of a Triangle Pattern

We last wrote about Bank of America in January, shortly after the company’s Q4 2018 report. The market was in a positive mood, sending the share price up to $28.44 at the time of writing. In addition, our Elliott Wave analysis of the situation indicated more strength can be expected going forward. Nine months later…

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Bank of America Riding the Earnings Wave… For Now.

The last time we wrote about Bank of America was on October 18th, 2018. The stock was trading below $29 a share, down from the $33.05 top reached in March. The bank had just reported a record first quarter, but the stock price was falling nevertheless. So in order to make sense of it, we…

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Bank of America Slides Despite Record Quarter

Bank of America reported its Q3 results on Monday. To say that the mega bank’s performance was good would be an understatement. Record net income of $7.2 billion translated into EPS of $0.66, 11% return on equity and 1.23% return on assets. The latter is a pretty solid result for a bank with $2.34 trillion…

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BAC Stock on Its Elliott Wave Path to the North

A little over two months ago, on July 2nd, we published an article about Bank of America stock. The price was then hovering near $28.20 a share, following a decline from as high as $33.05 in March. Fortunately, despite the 15% plunge, the Elliott Wave Principle (and the company’s fundamentals, by the way) suggested BAC…

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Bank of America Deserves a Higher Valuation

Bank of America is having a great year so far. The mega bank beat earnings and revenue estimates in the first quarter and was one of the top performers during the Fed’s recent stress test, which allowed it to boost its dividend by 25% and further support its share buyback program. In addition, the company…

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BAC Stock Headed to $40 a Share

After two consecutive years of spectacular gains, which nearly tripled Bank of America’s market cap, the too-big-to-fail financial institution is having a slower, but still strong start of 2018. BAC stock is up 5.22% year to date, easily outperforming the S&P 500. Besides, analysts’ estimates for the company’s future earnings are constantly improving. As of…

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