Is Bank of America Stock a Buy?
With a $364 billion market cap and an asset base (as of Sept. 30) that totals a gargantuan $3.3 trillion, Bank of America (NYSE: BAC) is a leader in the financial services industry. It has its hands in numerous areas, from consumer and commercial banking to capital markets and asset management.
Shares of this large financial stock have produced a fantastic 62% return just in the past 12 months. Does this strong momentum add fuel to the argument that Bank of America is a smart buy right now?
Warren Buffett-led Berkshire Hathaway owns just under 10% of Bank of America, which gives the average investor a vote of confidence that this is a worthy business to consider owning. The Oracle of Omaha looks for companies that have staying power, a description fitting for Bank of America.
Source Fool.com
