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Bank Of America: Lever[Age] Up, This Bank Is A Buy
July 19, 2018
- Bank Of America reported strong Q2 2018 financial results that beat the top and bottom line estimates.
- The bank also reported positive operating lever[age] for the 14th consecutive quarter.
- I plan to stay long Bank Of America, how about you?
Bank of America ($BAC) reported strong Q2 2018 financial results (top and bottom line beats) that were well-received by the market (shares are up approximately 5% since the results were released). Including the recent jump in the stock, BAC shares have significantly outperformed the broader market over the last year.
The flattening yield curve and the prospects of a downturn in the economy have some investors worried about investing in the large U.S. banks but, in my opinion, the bull case for Bank of America keeps getting better.