Sure, a 5 billion dollar stock buyback is nice, long term, but lets face it, its in everyone's interest to see BAC stock price go DOWN from here to make the buyback all the more meaningful.
Meanwhile 1 penny per quarter........how do you spell pain? BAC.
Really happy to learn of the positive stress test, results that helped BAC shine for the first time in nearly 5 years. However, shareholders I guess, should consider themselves lucky for not losing everything in the first place. But then hey, shareholders didn't buy Countrywide of Merrill.
I think I'll re-look BAC in the 10 range.......i could be wrong but the price history of this company since the BUST.......and the 5 billion buyback motivation for a lower price verses a higher price...and I see 10 and change. All IMHO of course....i hope I'm wrong but fear i will be right, especially if we have any market surprises along the way.
boar292hog.... You do sound some what intellegent but why is your BAC outlook so negative. This bank has suffered so much and I will be the first to admit that they deserved their fate during the financial meltdown but after all these years they are finally rising to newly found and former glory. They will continue to face major headwinds but just know that the worst is finally behind. Choose wisely and make mucho$$$$$$ with this rising bohemeth. Also,their buy back plan was a brilliant move! GL
If Boar hasn't sold this will be up minimum 30% this year. What do you mean another year of pain, I like the seven dollar shares I purchased last year and have been adding all the way to last purchase being 12.01 and will add further. BAC is a once in a lifetime opportunity in the banking sector. Two years out will be 25pps, I can live with a 50% year over year gain, can you?