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Bank Of America: The Numbers (Still) Tell A Good Story

October 25, 2019

Summary:

- Bank of America recently reported strong Q3 2019 results that beat the top- and bottom-line estimates.

- Bank of America is operating in a challenging environment, but I believe that investors should keep banking on this large financial institution.

- Bank of America is my largest position, and I plan to stay long the stock.

 

Bank Of America's ($BAC) stock has performed well so far in 2019, as BAC shares have significantly outperformed the broader market over the last 10+ months.

 

I have been long BofA for awhile now, but, in my opinion, BAC shares currently look more attractive than they have in years. While the large U.S. banks are definitely contending with a tough/challenging operating environment, I believe that BofA is still worthy of investment dollars, even above $30 per share.

It also helps that BofA's most recent quarterly results show that the bank's long-term story remains intact.

 

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