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Should You Buy Bank of America Hand Over Fist Right Now? There's 1 Good Reason to Think Twice.

TheMotleyFool

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Should You Buy Bank of America Hand Over Fist Right Now? There's 1 Good Reason to Think Twice.: https://g.foolcdn.com/editorial/images/773473/trader-pondering-at-screens.jpg

Bank of America (NYSE: BAC), one of the world's largest banks, just reported its first-quarter 2024 results. Both of the headline figures, revenue of $25.8 billion and diluted earnings per share of $0.76, exceeded the average of analyst expectations. This might be enough reason for shareholders to cheer the news.

This top financial stock has been on an impressive run, rising 35% in just the past six months. You might be wondering if you should buy Bank of America hand over fist right now. It might make sense to ride the momentum.

But you might want to think twice before doing that. Here's why.

Source Fool.com

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