Where Will Bank of America Be in 1 Year?
Despite the recent rise in COVID-19 cases, continued elevated unemployment, and lack of economic stimulus, the stock market has rebounded nicely from its 2020 lows. In fact, even after the recent market decline, the S&P 500 is still higher for the year.
However, the financial sector has been a major laggard. As of Nov. 2, the Financial Select Sector SPDR ETF (NYSEMKT: XLF) was still down by more than 20% year-to-date. Many of the biggest U.S. banks are doing even worse, in terms of their stock prices. Bank of America (NYSE: BAC) is one of the most improved banks in the U.S. in the decade or so since the financial crisis, but with a 32% decline this year, what should investors expect over the next year and beyond?
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Source Fool.com
