Boston, MA 03/04/2014 (wallstreetpr) – Bank Of America Corp (NYSE:BAC) had its stock reiterated as a “Buy” by a research note to investors on Monday, by a research firm TheStreet. The Buy ratings comes at the back of the bank’s unending court cases attributed its subsidiary Countrywide unit, on matters related to mortgages and foreign exchange trade. Bank of America has already confirmed that it has incurred up to $50 billion in costs as a result of the unending court cases. Bank of America survival was put under threat during the economic downtown of 2008 but was later saved by capital injection of warren Buffet who owns part of the banks Common stock.
Bank Of America Corp (NYSE:BAC) continues to show significant strengths in some of its key sectors, the banks stock price is not at an all-time high but continues to be solid and stable in the market. Its latest fourth quarter earnings was not bad considering the bank reported impressive record earnings per share growth. Its net income has also been growing over the past few years accompanied with attractive value levels as well as revenue growth
Highlights of the Buy ratings
Bank Of America Corp (NYSE:BAC) earnings have grown by over 866.66% over the past year alone considerably making the stock price to jump by 45.92%. Bank of America continues to show a pattern of positive earnings per share, having been on a surge for the past two years. The past quarter saw the bank increase its bottom line by earnings of $0.91 against $0.25 for the same quarter a year ago.
Bank Of America Corp (NYSE:BAC) net income continues to outperform the S&P 500 index average and for other diversified players in the financial industry. The past year alone saw the company net income grow by 369.8% growing from $732 million to highs of $3.439 billion. The only set back at the moment is the slow pace in revenue growth, which lags the industry average of 13.4% coming in at 11.3%
Bank Of America Corp (NYSE:BAC) was down by 1.39% on Monday trading session closing the day at $16.30.
