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Is Bank of America (BAC +1.8%) ready to focus on growth? CEO Moynihan tells CNBC the downsizing...

Is Bank of America (BAC +1.8%) ready to focus on growth? CEO Moynihan tells CNBC the downsizing of the investment bank is pretty much finished and head counts are rising in the mortgage and small business divisions. Further capital raises are unnecessary from here, he says.
Comments (4)
  • vallies
    , contributor
    Comments (351) | Send Message
     
    Take a look at KEY,PFG,BAC or HBAN. HBAN had a record net income of 18%y/y. It had a nice buy back of 23 million shares at 6.33 and another at 6.36. It just had a very nice CL, commercial loan for 34.8 million. Consumer sentiment is up in the Midwest. It trades slightly above book value. It has a P/E below 10%. It has a dividend yield of 2.5%. I can't believe investors would rather be in the 10yr treasuries which gives you a zero percent return on your capital than" to be" in one of the banks mentioned above. So now that you know the answer, you should know what "not to be " in.
    24 Jan 2013, 01:55 PM Reply Like
  • Colin Doyle
    , contributor
    Comments (708) | Send Message
     
    One small correction, vallies: PE is a measure without units except for one exception. That is, it can be expressed in "years" but rarely is. If you want to relate it in terms of a percent, you can invert it and multiply by 100% and--in the case of HBAN--say: "it has an earnings yield above 10%".
    26 Jan 2013, 02:13 PM Reply Like
  • Rickyclemson
    , contributor
    Comments (11) | Send Message
     
    Let the BAC journey begin again, $20 by July
    24 Jan 2013, 03:08 PM Reply Like
  • vallies
    , contributor
    Comments (351) | Send Message
     
    Don't forget C. Tepper is very upbeat about it, Listen to Michael Corbat and his outlook.
    24 Jan 2013, 03:45 PM Reply Like
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