Bank of America (BAC) Buy, Sell or Hold

Bank of America (BAC)

53.60

-0.14 (0.25%)

as of Oct 2, 2026, 5:57:12 pm Market Open.

709 watching

COMMENT

Canadian vs. American banks (BAC, JPM) The Canadians trade at a premium (in book and PE terms) vs. Americans, and the 12-month outlook is better for Americans. BAC is cheaper than JPM and more domestically focused. Also, Citibank is cheaper than both of these, trading below book value with better protection to the down side.

WAIT

BAC vs. MET. Dynamics of the two are different, so hard to compare. FMV potential of both is huge. But the market won't go, because interest rates are falling. Aren't any drivers to escalate earnings. Very cheap, but who knows when they're going to pop? (Analysts’ price target is $33.12)

DON'T BUY

All US banks are sideways, a bad signal. He doesn't own any North American banks, only Asian ones. Be cautious about any banks.

COMMENT

They've lowered expectations, and buying back shares. Can see more volatility. Earnings were up 8% in the last quarter but it all went to share buyback. They aren't putting money in capital expenditures to give executives bonuses. Doesn't like it.

BUY

Q1 in to April is seasonality for US stocks. The banks are showing improvement and they can still run. Resistance at $31 so if BAC breaks out, there'll be a big upside.

PAST TOP PICK

(A Top Pick Jul 17/18, Up 5%) He favoured the US banks after the election of President Trump. If the Fed cuts more than 25 points this week, this would hurt them. He feels the banks outside North America are effectively bankrupt already -- especially in Europe. He still owns this as he feels they are still well capitalized, although he has taken some profit.

COMMENT

Time to move out of US banks? BAC-N lots of levers to earn money. It trades a little higher than book value. The valuation is okay, but is trading fair value. He would not be compelled to buy at time. He would roll this position into holding the exchanges -- like CME-N

SELL

It's stuck at $30. Sell at $30 until it proves it can go higher, but he doubts it will. It's in a nice range between $24-30.

HOLD

Add on here? The largest holding he has and he holds it personally. He has a four-bagger on this and has a $38 target price. He will continue to hold it.

BUY

A potential US interest rate cut. He's long endorsed BAC. They've increased their dividend and bought back a lot of shares. They are flush with capital. It trades at book value today, so it's not an expensive stock. A rate cut should hurt banks, buy they have weathered this before. They won't get hurt much and will endure a cut. Also, if the rate drops says 75 basis points, the yield curve will rise.

COMMENT

There continues to be a hangover over the falsification of client records a few years ago for WFC-N. It will go away over time and Warren Buffet still owns his shares. He would tie into a higher yield play. He would lean towards Bank of America.

HOLD

RY-T vs. BAC-N. They are both leaders in their respective countries. In a non-registered account, use RY-T. Also he would go with them because in the case of recession, they can lower their expenses. Their plan is to invest in IT when times are good and pull back investments when they are not. Going forward it will be who can tighten their belts the most, will do the best.

COMMENT

BAC vs. Citigroup if a recession happens He owns both, but he prefers Citigroup, because it has a lower valuation, trading below tangible book value and pays a higher dividend. Citi is viewed as an international bank, whereas BAC is viewed as American. The upside is better at Citi in the coming years.

PAST TOP PICK

(A Top Pick Jun 26/18, Down 0.5%) Flat. We don't know what will happen with interest rates. A lot of question marks with US banks, given the 2020 US election which may lead to the Democrats limiting these banks.

BUY

He still believes in US banks even if the FED has hinted at a rate cut in the future. BAC-N has increased capital ratios and is in a good position to re-distribute earnings in terms of dividends and share buybacks.

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Bank of America (BAC)