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Compiling comments that experts make about stocks while on public TV.

Bank of America Stock Symbol: BAC-N

Last Price Recorded: $22.7100 on 2017-04-21

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Date Signal Expert Opinion Price
2017-04-21 TOP PICK Greg Newman

This has a BV of less than 1. He sees 20% EPS growth. It is very well positioned towards the Trump agenda. Thinks they will do something about the Volker rule and probably lower taxes a little. This bank is very well positioned towards the domestic side of the economy. He doesn’t see a lot of risks. Dividend yield of 1.3%. (Analysts’ price target is $26.50.)


Price:
$22.710
Subject:
CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias:
UNKNOWN
Owned:
Yes
2017-04-20 BUY Lorne Zeiler

One of the best names in the US. A very diversified base. There is talk of reducing the Frank-Dodd effect which would be helpful to the sector. Also, rising interest rates will be helpful to them. He is expecting a lot more growth on their loan activity. If you are going to have one name in the US, this is the one.


Price:
$23.070
Subject:
DIVIDEND STOCKS AND MACRO STRATEGIES
Bias:
UNKNOWN
Owned:
Yes
2017-04-19 TOP PICK David Burrows

He looks for sectors/themes that are going through significant shifts that can give a long runway for the industry and companies to be revalued. The 2nd biggest bank in the US, trading at just under 1X BV, and can go higher. Assuming they can grow BV, that would be even better. It will be helped by rising interest rates. They will get the CCAR assessment in June as to whether they can return more capital to shareholders. Generating a ton of cash, so dividends should continue to accelerate. US banks started to perform in June of last year and have just had a classic pullback towards the 150-day moving average, which gives investors a great entry point. This could be a 5-year theme. Dividend yield of 1.3%. (Analysts’ price target is $26.)


Price:
$22.740
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2017-04-18 BUY John Stephenson

Just reported and results were quite good. He likes this name. The capital return story is a growth story. Banks have just had the worst possible scenario ever. Not only were interest rates low, affecting net interest margins but borrowing when the lending book was weaker and coming out of the great recession, as well as this burdensome regulation. A little less regulation would be good. This is a “go to” name.


Price:
$22.710
Subject:
NORTH AMERICAN - LARGE & RESOURCE
Bias:
UNKNOWN
Owned:
Yes
2017-04-18 BUY John Stephenson

A North American bank? He would suggest Bank of America (BAC-N) for a US name, and if you want a Canadian name, then he would suggest the Royal Bank (RY-T).


Price:
$22.710
Subject:
NORTH AMERICAN - LARGE & RESOURCE
Bias:
UNKNOWN
Owned:
Yes
2017-04-13 TOP PICK Paul Harris, CFA

The stock ran up and has pulled back, giving a good opportunity to buy. It has 10% of all the retail assets in the US. It continues to reduce costs through technology and headcount. They have 3 very strong good businesses, retail, corporate investment banking and the brokerage business. Trading just below BV. Thinks the stock is worth in the $38-$40 range. Dividend yield of 1.3%. (Analysts’ price target is $26.)


Price:
$22.340
Subject:
GLOBAL
Bias:
UNKNOWN
Owned:
Yes
2017-04-10 COMMENT Hap (Robert) Sneddon FCSI

This has a floor at about $22. If it breaks down through that, it will probably go down to the top of the range in 2015-2016 of $18. The key thing on this is interest rates. As long as it holds $22, you are going to get a chance in the next couple of months.


Price:
$23.020
Subject:
TECHNICAL ANALYSIS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
No
2017-03-28 BUY Paul Gardner, CFA

They raised their dividend quietly, but not too aggressively.  They are at the higher end of capital requirements.  They did a lot of stock buybacks.  He would not be surprised if they raised their dividend soon.  He likes it.  They are the largest deposit holder.  If interest rates rise it drops directly to their bottom line.  He is pretty sure deregulation is going to happen and there will be re-valuation.


Price:
$23.480
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
Yes
2017-03-27 BUY David Fingold

It is a very good company.  They have free deposits upon which they pay no interest.  They don’t have to pay a penny more on these deposits if interest rates rise.  They would be a major beneficiary of tax reform.  He prefers First Republic (FRC-N) in the banking sector, but BAC-N would outperform it if interest rates rose quickly.


Price:
$23.030
Subject:
NORTH AMERICAN/GLOBAL
Bias:
SELECTIVE
Owned:
No
2017-03-24 BUY Greg Newman

They have the housing cycle ahead of them.  They are trading at book. They are levered to lower regulations.  People are still terrified of the financial crisis.  It is one of the best.


Price:
$23.120
Subject:
CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias:
BULLISH on DIVIDEND STOCKS
Owned:
Unknown
2017-03-23 WATCH Norman Levine

Financials have run in the US because of expectations under Trump of less regulation that will free up capital.  Also, there is hope and expectation that the yield curve will steepen.  In the near term it looks like we are getting a correction in interest rates.  We are close to the end of the 35 year bull market in bonds.


Price:
$23.070
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
2017-03-21 COMMENT David Dietze

Bank of America (BAC-N) or Wells Fargo (WFC-N)? Both are large US banks, so are going to have more in common than in disparities. It is hard to see one going dramatically in one direction and one going in the other direction. They are both going to be interest rate and economically sensitive. If interest rates move higher, margins are going to improve and will benefit both companies. However, he has a slight preference for this bank because of valuation. When looking at BV, this one is dramatically cheaper at about 1.2X.


Price:
$23.020
Subject:
US EQUITIES
Bias:
CAUTIOUS
Owned:
Unknown
2017-03-21 TOP PICK David Burrows

Trading at 1X BV and the multiple of Book is expanding. They have multiple drivers. They’ve been cutting costs which has been going on for quite some time. They are getting higher interest rates, giving $600 million of additional revenue last quarter from their net interest margins. They win if there is less regulation. They win if there is economic growth, which they are getting. They win if they can return more capital by way of dividends, which they are now allowed to do. Dividend yield of 1.2%. (Analysts’ price target is $26.)


Price:
$23.020
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2017-03-16 COMMENT Gordon Reid

This is a long-term asset, and you have to think of it in the long terms. It has had quite a rise since the fall, at about $15-$16 to over $25 today. Yesterday US banks traded off and bond market backed up, which caused people some surprise. Believes people bought the rumour and were selling the news, and when the Fed came out and did exactly what they were expecting, the market acted disappointed. That is only one day, which does not make a trend. He expects the bond market will turn around and we will see higher rates and lower bond prices, with higher equity prices for financials. (See Top Picks.)


Price:
$25.220
Subject:
US EQUITIES
Bias:
UNKNOWN
Owned:
Unknown
2017-03-16 COMMENT Zachary Curry

Bank of America (BAC-N) or Toronto Dominion (TD-T)? He prefers J.P. Morgan (JPM-N), which is a bit more tilted to the investment banking side, and would see a bit more participation in the deregulation that he feels is coming. There is room for the Cdn$ to come down further.


Price:
$25.220
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
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