Bank of America (BAC)

After last year's regional bank meltdown, Washington will now backstop them to prevent contagion. But recently BAC's CEO said that bank net interest margins may be suspect going forward, because the consumer is weakening. That said, BAC is well priced and their dividend will grow. Happy to own this.

Great stock. 11x earnings too cheap. Buy more. Solid dividend. 

Higher rates benefit banks because it raises their earnings. Also, consumers in the US are not under pressure (defaults aren't rising). He likes US banks and has bought and sold this. He's waiting to see what US bank earnings look like. This is one of his bank choices.

BAC has shown recent strength with a rally, with their Merrill Lynch franchise helping earnings and is better than Citi. Citi is a turnaround story as they reduce staff and streamline. Citi have risen recently though.

Does not own shares. Would prefer Morgan Stanley. Diverse business - not as focused on investment banking. Important to remember interest rate exposure. If rates fall - will be good for business. Mortgage rate renewal will also affect business. Would watch closely. 

US bank results were pretty good, but not received that well. Stocks sold off. Due to Jamie Dimon's penchant for pouring cold water on any good story to keep investors grounded. BAC beat earnings and revenue. Net interest income was better than expected. CEO was fairly positive on consumer, and higher rates would be a net positive into the end of the year. Yield is 2.7%.

Solid holding. Will have its time in the sun, so it's a Top Pick today. Ample liquidity to cover unrealized paper losses of bond portfolio, so don't be scared.

They have a combination that works, including capital markets and wealth management. Should deliver a good report.

Not expensive, trades below book. Nice dividend yield. Very strong wealth management and investment banking. One of the best retail franchises. Well capitalized to increase dividend or buy back shares. Commercial real estate remains a question for all banks, but mainly the regional ones. Though if one segment of banking falls, they all do.

Still likes it. Has a global presence. Is not vulnerable to deposit flight. US financials rank #3 or 4 among the 11 sectors this year at 10% total return. Is trending upwards since last October. Pays a 2.6% dividend and trades at 1x price-to-book. The economy is firm, not in recession.

Performance of bank steadily increasing as interest rate fears decrease. Loan loss provisions not a concern. Net interest income steady. Good name to own for the long term. Will continue to own. 

Trades at 10x PE and yields nearly 3%. Great CEO. Will rise over time.

Yields rose this week but he was encouraged to see BOA trade well, unlike falling as it usually does when the 10-year climbs. The negativity over the regional banks has been flushed out, which benefits BOA. He also own JPM, which is setting highs, but expects BOA to catch up and outperform JPM.

BAC trades at a high 1.4x book value, but at low 10x PE. It's a show-me story that needs to release a few solid quarters in a row. But it offers an excellent digital banking platform and attractive dividend, but is unloved.

Is flat on the year, despite this rally. Trades at 1x book. Net interest income and expenses for the quarter are in line. Expects the results of their fees to be mixed, but expects more cost cuts as it waits for fees to rise.

Sold it in October after many years. Merill Lynch is their crown jewel, but can't exploit it like MS can milk their wealth management business.