Bank of America (BAC) Buy, Sell or Hold

Bank of America (BAC)

53.65

-0.09 (0.16%)

as of Oct 2, 2026, 4:58:33 pm Market Open.

709 watching

DON'T BUY

(Market Call Minute.) Biggest, most under performing part of the market. Regulations and capital requirements are going to continue to hamper return on equity.

WAIT

True value play. Hedge funds are going long on the stock. Making a move to get out of M&A and focusing on their Merrill Lynch business. Countrywide is starting to show some life. If you own, put a Stop $2 below the current price. Would prefer JP Morgan (JPM-N) or Goldman Sachs (GS-N). Whole sector will have a tough quarter when reporting earnings so wait.

PAST TOP PICK

(A Top Pick Sept 1/09. Down 19%.) For him this is a longer-term thing. Expect increased dividends over the next little while. Made some very astute acquisitions and own 10% of all deposits in the US.

DON'T BUY

Chart shows it is falling and is bumping up against the 50-day moving average continuously. For the time being he would be very careful.

BUY

Trading at about 65% of Book and just a little bit more than 1X tangible Book, which is very cheap. Expect it has earnings power in the $2.50-$3 range and probably over time will support a price into the high $20-$30. It will take time.

PAST TOP PICK

(A Top Pick Sept 1/09. Down 24%.) Had run up to about $20 but has come back down again. Still likes the story and the US banking industry as a whole. They don't lend money, buy treasuries and the balance sheets are going to look fantastic in a year or two.

PARTIAL BUY

Biggest domestic bank in US. Acquired the very strong franchise of Merrill Lynch during the downturn. Also acquired the mortgager Countrywide and had some difficulty with the mortgages. About 40% of revenue is from consumer lending. Trading at the price of BV. Consider averaging in.

COMMENT

Has probably been oversold. Will stick with Canadian banks for his clients because of the dividend tax credit.

DON'T BUY

Not a fan of this bank. Still have high exposure to a lot of bad mortgages and loans. As interest rates come down, their ability to generate income is also coming down.

DON'T BUY

Too soon to buy any of the American banks because we don’t know what’s behind the curtains. US Housing crisis is not over. You are taking a substantial risk

TOP PICK

Trades at under 1X Book. Terrific assets in Merrill Lynch and Countryside and the synergies are happening. Credit provisions are going off the books, which means loans are now being repaired. Looking for $30 trading range in 2012/2013.

DON'T BUY

Earnings are pretty good – beat the street. Trading revenues are poor. Market didn’t like the quality of earnings. They released reserves, increasing earnings. If the bank is more comfortable, that is a good sign for earnings going forward. Balance sheet is atrocious. Prefers Canadian banks.

COMMENT

Stock is in a trading range. Wouldn't want it to go below the previous low of $13.50 of a few days ago. If you own, start reducing it goes below $13.50.

BUY

On a normalized basis, the stock has $2.50-$3 in it. Depending on what happens to the Financial Regulation bill that is now in front of Congress there could be a $.50 hit. Merrill Lynch and Countrywide are two very valuable franchises.

DON'T BUY

Just told US regulators that in April it unintentionally hid nearly $11 billion in debt from its balance sheets using 6 trades known as “dollar rolls” between 2007-2009.

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Bank of America (BAC)