Why Bank of America Stock Fell 13.4% in the First Half of 2023
In what was a difficult period for banks, Bank of America (NYSE: BAC) concluded the first half of 2023 down 13.4% year to date (YTD) through June 30, according to S&P Global Market Intelligence. As of July 14, Bank of America was down about 10% YTD, trading at just over $29 per share.
It was well off the pace set by the S&P 500 index, which was up 15.9% in the first half.
While Bank of America was down significantly in the first half of 2023, investors can't be too disappointed with its performance. In what was a brutal period for banks, the nation's second-largest bank outperformed when you consider the fact that the KBW Bank Index, which tracks the performance of the country's largest banks, was down 20.5% YTD through the first two quarters of the year.
Source Fool.com
