Bank of America Is Buying Back Even More Stock -- Here's What It Means to You
Bank of America (NYSE: BAC) has been one of the best-performing stocks in an impressive financial sector over the past couple of years. The stock has risen by more than 38% over the past year and is up a staggering 163% since its February 2016 lows, handily beating the performance of the S&P 500 and the overall financial sector.
After such a remarkable run, it's only natural to wonder whether Bank of America's stock could be getting a bit expensive. However, there's a solid case to be made that the gains are well justified, and the bank's management recently announced a move that indicates that they still think the stock is cheap. After an already-massive buyback announcement earlier this year, Bank of America is planning to spend billions more to buy back its own stock.
Image source: Bank of America.
Source: Fool.com
Bank of America Corp. Stock
Currently there is a rather positive sentiment for Bank of America Corp. with 28 Buy predictions and 5 Sell predictions.
With a target price of 42 € there is a slightly positive potential of 12.8% for Bank of America Corp. compared to the current price of 37.24 €.
