Since late October last year, Bank of America (NYSE: BAC) has been on a tear, increasing 58% as the Federal Reserve signaled a pause in its interest rate hiking campaign. The stock has gained significantly as investors priced in the pause and potential interest rate cuts at the end of this year and into next year, which could help alleviate pressure on the bank, whose loan portfolio has sizable unrealized losses.

However, it remains unclear where interest rates will be at the end of this year or next year. Coming into the year, markets priced in as many as six interest rate cuts. Those expectations are now down to two cuts. Given the recent run-up in the stock, is it wise for investors to buy now? Here are some things you'll want to think about first.

Bank of America has over $2.5 trillion in total assets, making it the second-largest bank in the U.S., behind only JPMorgan Chase. Its sheer size makes it a behemoth, and it has held its own over time as one of the largest banks in the U.S.

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Source Fool.com