Bank of America’s profit falls 77% in the first quarter. More bad news for the banks and for the current shareholders of this company. What should an investor in BAC DO? Buy, Sell or Hold? Or as they say in Poker, Bet, Call, Fold or All-In? The company is currently paying a fat 6.80% yield. Talk about compounding.... Will the BAC continue to pay the fat yield? That is what people are waiting on.
If you think that the housing mess is nearing bottom, this is a good stock to pick up. If you think the housing mess has a long way to go and that more write downs are coming, then this is definately a company you want to add to your watch list and wait to pull the trigger.
Very rarely are you given an opportunity to purchase a company with a 6.80%
Today:Bank of America's shares dropped 95 cents, or about 2.5 percent, to $37.61.
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