• Bank of America should be viewed as an income play because the bank has a healthy dividend and promising dividend growth prospects.
• Investors should, however, not forget that this bank also has great long-term business prospects that should help propel the stock price higher.
• I am long Bank of America and I plan to stay long the stock.
• This idea was discussed in more depth with members of my private investing community, Going Long With W.G.. Start your free trial today »

Bank of America's (BAC) stock has performed well so far in 2019 (up 9%), but BAC shares have significantly underperformed the broader market over the last year.

Data by YCharts

Financials have been under pressure since mid-2018 due largely to industry-specific factors (low interest rate environment, flattening yield curve, and increasing regulatory concerns), but I view the pullback in BAC shares as a great long-term buying opportunity. BAC has a strong bull case, which includes promising capital return prospects, so I believe that there is a lot to like about BAC shares at today's price.

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