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Bank Of America: The Thesis Remains Intact

January 28, 2019

Summary:

- Bank Of America reported strong Q4 2018 results that beat top- and bottom-line estimates. Additionally, the bank's results for full-year 2018 were significantly better than for the prior fiscal year.

- I believe that the investment thesis for Bank Of America is not only still intact, but that it has actually gotten stronger over the last four quarters.

- Bank Of America is my largest holding and I plan to stay long the stock.

 

Bank of America ($BAC) reported Q4 2018 results that were well-received by the market, as shown by the fact that the stock finished the trading day ~7% higher. BAC shares are now higher by approximately 20% so far in 2019, but the stock is still underperforming the broader market by 2 percentage points over the last year.

 

BAC's impressive stock performance over the first few weeks of 2019 has been nice and all, but in my opinion the stock is still a great long-term buy at today's price. Why? It's simple: Bank Of America has a promising long-term story to tell and it helps that this bank's recent results support the investment thesis for this large financial institution.

 

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