Ferbaremo
02-02-2016,
"The Charlotte, North Carolina-based bank reported second quarter earnings of $2.78 billion or 27 cents per share (http://www.streetinsider.com/Earnings/Bank+of+America+%28BAC%29+Q2+Profits+Rise+Beating+ Street%2C+But+Shares+Fall/5811130.html#), up from $2.42 billion or 33 cents per share in the same quarter last year.
Revenue for Bank of America fell 11 percent in the three month period ended June 30 to $29.45 billion from $33.09 billion.
On average, analysts had been looking for earnings of 22 cents per share and revenue of $29.75 billion in the period from the firm."
With those numbers is a 8% sell off warranted I don't think so. Remember many people are still in BAC from the 16 level.
I'd say BAC hits 20 by years end and retests 16 short term.
It could have some more downside but buying this dip is the right thing to do.
Revenue for Bank of America fell 11 percent in the three month period ended June 30 to $29.45 billion from $33.09 billion.
On average, analysts had been looking for earnings of 22 cents per share and revenue of $29.75 billion in the period from the firm."
With those numbers is a 8% sell off warranted I don't think so. Remember many people are still in BAC from the 16 level.
I'd say BAC hits 20 by years end and retests 16 short term.
It could have some more downside but buying this dip is the right thing to do.