2 Bank Stocks to Buy With $1,000 and Hold Forever [Yahoo! Finance]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Yahoo! Finance
Two of Buffett's positions are particularly attractive right now. One bank is a deep value play, while the other offers compelling long-term growth potential. This bank stock is trading at a deep discount Bank stocks can see their valuations fluctuate wildly during various economic ups and downs. Citigroup (NYSE: C) , for instance, has seen its price-to-tangible book value -- a metric that gauges how much the market is willing to pay for a company's net real assets -- range from 0.5 to 6.5 over the decades. Following the 2008 financial crisis, the valuations for banks fell precipitously across the board. While stocks like Wells Fargo and Bank of America have seen their valuations hover between 1 and 2 times tangible book value, Citigroup stock remains in the penalty box. On a price-to-tangible book basis, Citigroup shares trade at a 50% discount to Wells Fargo and Bank of America. Someone at Berkshire, maybe even Buffett himself, noticed this valuation gap in the first quarte
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BAC
Earnings
- 10/15/24 - Beat
BAC
Sec Filings
- 10/31/24 - Form 424B2
- 10/31/24 - Form 424B2
- 10/30/24 - Form FWP
- BAC's page on the SEC website