Summary
- Despite the challenging environment for banks, Bank of America is performing better than most of its peers.
- The revenue performance has been consistent and solid, while costs have been contained, improving efficiency and EPS.
- Bank of America stock price is poised to rise in the medium-to-long term.
Bank of America Corporation (BAC) stock price is mostly unchanged from a year ago, but it hasn't been without drama. The good news is that the stock has easily erased most of the losses from December 2018.
The fact that the stock has pulled back in recent weeks isn't necessarily a negative indicator for the company, but rather, indicative of the market backdrop. Although it's important to analyze financial ratios and valuations of companies, the current market is a good reminder of how influential macroeconomic and geopolitical events are for stocks and bonds.
In this article, and the ones to follow, I'll show how the current environment is impacting banks like BofA, but also how the bank is performing fairly well given the backdrop. And I believe the stock will be in a great position to push higher once the current negative catalysts are removed from the market.
Data by YCharts
