Bank of America
August 25th, 2009
Bank of America went over $17 per share this week. It seems almost shocking for a bank in danger of being nationalized back in March when shares dropped below $3 per share. While I wouldn’t rush out to buy shares at these levels, Bank of America may still be cheaper then rival banks. Shares have risen over 400% from their March levels and the stock may still be undervalued if the banking giant can whether rising credit losses over the next 24 months.
According to GuruFocus, BAC’s price/book is still below 1 (0.7) even at these elevated levels.
http://www.gurufocus.com/StockBuy.php?symbol=BAC