Is Bank of America a Solid Portfolio Play?
With shares of Bank of America (NYSE:BAC) trading around $15, is BAC an OUTPERFORM, WAIT AND SEE, or STAY AWAY? Let’s analyze the stock with the relevant sections of our CHEAT SHEET investing framework:
T = Trends for a Stock’s Movement
Bank of America is a financial institution serving individual consumers, small- and middle-market businesses, corporations, and governments with a range of banking, investing, asset management, and other financial and risk management products and services. With its banking and various non-banking subsidiaries throughout the United States and international markets, the company provides a range of banking and non-banking financial services and products through several business segments: consumer and business banking, consumer real estate services, global banking, global markets, global wealth, investment management, and other.
The attorney general of Vermont is suing Bank of America Corp for some alleged violations of foreclosure mediation as well as consumer protection laws in Vermont. The lawsuit that has been filed by William Sorrell’s office had alleged that Bank of America Corp either refused or failed to comply with the mediation settlements in the state of Vermont’s court foreclosure-actions to which it had previously agreed.