I am a long term holder and buyer of Bank of America. Sadly it has been one of my dogs.
Some of my first investments were made back in 2006 and 7, then folks where was this stock trading? Up around $50 -60 per share. It was also paying a pretty nice dividend of around 50 cents per share too.
Since then of course I saw my stake plummet and about a year ago it was bottoming out at around $4 per share. and struggled to get approval to pay anything more than 1 cent per share.
So it is nice to see this old dog coming back. It is nice to see CNBC getting excited that the stock has doubled in a year. But folks reality check here, I am waiting on a share price of 18.20 per share.
Why $18.20 that is my break even point to get back the money invested five years ago and which has been dead as I bought down to the bargain basement. Even that amount may be a long time coming. Though with recent financials moves it may be that Bank of America begins to look cheap.