Is Bank of America Stock a Buy in November?
If you're in the market for a bank stock to buy in November, you could do a lot worse than Bank of America (NYSE: BAC). While the nation's second biggest bank by assets has seen its stock price soar over the past year, the still-modest valuation of its shares makes them an attractive proposition at their current price.
The Bank of America Plaza in Dallas, Texas. Image source: Getty Images.
Bank of America's shares trade right now for 15.8 times its expected earnings over the next 12 months. One way to interpret this is that it costs $15.80 to buy every $1 of the Charlotte, North Carolina-based bank's forward earnings. That's by no means cheap, a moniker typically associated with a single-digit valuation multiple, but it's also not expensive.
Source: Fool.com