Bank of America (BAC) Buy, Sell or Hold

Bank of America (BAC)

57.89

+0.52 (0.90%)

as of Jun 23, 2026, 6:03:12 pm Market Open.

492 watching

BUY

He's long owned BAC. The entire growth has pulled back, because of interest rates not rising as much as expected. BAC is in good shape. If the US economy does well, this will do well. Likely dividend increases.

TOP PICK

He's bullish US banks. Sept. 30 earnings were $7.2 billion, enough to double their dividend without making much impact on their balance sheet. They're putting up incredible earnings despite a rising yield curve enviroment. And there have been two rate hikes since Sept. 30. He bought it cheap at $12. (Analysts’ price target is $33.80)

HOLD

Financials have been hit hard. With a 4-year cycle reset, this area should outperform, especially in the first year of the new cycle. This is an attractive entry point, it's down 33%. If you hold it, don't sell.

BUY

He's still bullish on American banks and the U.S. economy. BAC is well-capitalized. That said, the flattening yield curve has limited net income spreads and overall, we're in a challenging environment. You can buy BAC now. He prefers Morgan-Stanley for its strong wealth management and investment banking operations.

COMMENT

CVS or BAC? He owns both and struggles to pick one over the other. Building a portfolio with different balances makes sense. CVS is a little out of favour as it is being "Amazoned". However, they have 11,000 locations in the US and have set up mini-health clinics with nurses on staff -- a good differentiation. BAC has corrected and is now trading at recessionary levels (below book value) -- extreme levels not seen since 2008 and great value.

DON'T BUY

Owned it in the past. The fundmentals are being ignored in this market. US financials have done nothing all year. In the summer, he greatly reduced exposure in this sector. He needs to see a definite price move to get interested in this stock and sector. As for Powell rising rates, either he gives markets a rate hike that the market doesn't need, or investors panic because he didn't raise rates (because he feels the economy is weak).

BUY

All the bank stocks are generally trading down. If you were considering a US bank, this is the one he would buy.

BUY

What's hurt BAC is their exposure to capital markets, more so than its peers Citi and JP Morgan and Wells Fargo. The multiples are at a discount at the Canadian banks. You can look at this stock and space. He's buy 2 or 3 US banks instead of 1 though.

COMMENT

Bank of America vs Citigroup – Both of these have earnings forecasts that are growing compared to the rest of the US bank sector that looks weak. He thinks both are excellent value and are good buys currently. He wishes the US banks would stop buying back shares and pay out dividends instead – like the Canadian banks. He thinks this might require regulatory support first.

BUY

He likes the US financials. This company trading at 9 times next year earnings. Close to one time book value. He thinks it is cheap. Loser regulatory environment favors this company. One of the largest holdings of Warren Buffet at the moment.

COMMENT

He thinks that a lot of the easy money has been made. Although interest rates are going up, what they are paying on the deposits is not much less then what they are loaning the money out. The historical benefits of net interest margin are not being realized to the fullest at this time. You do need to have financials in your portfolio. He would not be going into 2019 overweight financials. Bank of America is a great name, its conservative, and well diversified but he just don't think we are in an environment where you are going to want to be overweight in the banks.

PAST TOP PICK

(A Top Pick Jun 01/18, Down 3%) He still likes this one as it trades less than 10 times earnings and has a good dividend. Their fair value is near $40. Yield 2%

DON'T BUY

The US banks are one of the better parts of the market now, but there's also concern about Goldman Sachs' leverage sheet which casts a shadow over this entire space. He won't make any big moves here. He prefers JP Morgan, then BAC second. Sit tight and wait until the downward trend reverses. This could fall further to $26.

COMMENT

For US financials, the bias is down for him. If you can get it around $23, that’s his entry point. Don’t chase it. Trend of lower highs is negative from a technical view.

BUY

He likes the sector and this stock. Good valuation and decent long-term growth. Caveat: In the US, there's a growing emphasis on debt. Like 2007-8, if we were to see a debt issue emerge again, the banks would take it on the chin. Governance of US banks is good now. He's looking at this. It's one of the sounder stocks in this sector.

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Bank of America (BAC)