It's certainly been a lousy year for the broad market. But it's been even worse for banking stocks. While the S&P 500 is off to the tune of 21% since the end of 2021, the Dow Jones U.S. Banks index is lower by 24%. And some of the industry's stalwart stocks are nursing even bigger sell-offs, driven down by fear of a recession.

As veteran investors can attest, though, the time to step into quality names is when they're beaten down. Bank stocks are no exception to this premise.

One banking stock stands above the rest right now as a buying opportunity. That's Bank of America (NYSE: BAC). 

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Source Fool.com