Bank of America Stock Just Hit a Record High. Here's What It Means Ahead of Earnings
Bank stocks have enjoyed a nice run overall, and valuations are now fairly elevated.
Overview
Bank of America (NYSE:BAC), the second-largest bank in the U.S. by assets, hit a new all-time high today, with the stock topping $60 per share.
Many large bank stocks have had a good year thus far, particularly the investment banks, which have benefited from some massive artificial intelligence initial public offerings.
Details
However, some of the money-center banks, such as Bank of America, have not performed as well. The stock is up about 7.5%, trailing the broader market S&P 500 Index and the Nasdaq Bank Index.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.