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Bank Of America: The Reason To Stay Long The Stock

July 3, 2019

Summary:

- Bank of America pays a below-average dividend, but investors should expect for this to change in the near future.

-There are plenty of reasons to own BAC shares today, but, if you ask me, the bank's dividend growth potential is #1 on that list.

- I am long Bank of America, and I plan to stay long the stock.

 

Bank of America's (BAC) stock has been a major disappoint over the last year, as poor sentiment for the financials sector has outweighed what looks to be attractive valuations for the large U.S. banks.

 

I have been long BofA for an extended period of time, but, in my opinion, BAC shares currently look more attractive than they have in years. This large bank has several significant catalysts in place that have the potential to lead to outsized gains over the next 18-24 months, but I believe that BofA's dividend growth story is the reason to own BAC shares today.

 

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