Looking at the performance of Bank of America's (BAC -1.23%) shares following its earnings announcement, you'd be excused for thinking that the nation's second largest bank by assets had a horrible first quarter. But this simply isn't true. In the video below, Motley Fool contributor John Maxfield discusses why the moves in Bank of America's stock were more of an overreaction as opposed to an accurate reflection of the bank's first-quarter performance.
Whoa There! Bank of America’s Earnings Weren’t that Bad
By John Maxfield
-
Apr 18, 2013 at 10:00PM
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NYSE: BAC
Bank of America Corporation
Market Cap
$281B
Today's Change
(-1.23%) -$0.43
Current Price
$34.45
Price as of May 19, 2022, 8:00 p.m. ET
Shares of Bank of America tanked following its first-quarter earnings release on Wednesday. Here's why the market overreacted.
Stocks Mentioned
Bank of America Corporation
BAC
$34.45
(-1.23%)
$0.43
JPMorgan Chase & Co.
JPM
$118.31
(-1.48%)
$-1.78
Wells Fargo & Company
WFC
$42.00
(-0.26%)
$0.11
*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.
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