Monday, November 18, 2013

Bank of America share price hits nearly 3-year high

Bank of America's share price climbed Monday to a level not seen in nearly three years.

Shares of the Charlotte-based bank rose to $15.17 in early afternoon trading, setting a 52-week high. It's the highest price for the shares since they reached $15.31 in January 2011. Shares remain below the $50 range at which they traded in 2006.

The bank's share price has been rising all year amid improved earnings. In each quarter this year, the bank's net income has been higher than a year ago.

Despite the higher profits, the bank’s potential legal exposure continues to weigh on the minds of some investors. The bank has spent a total of $20.1 billion over the past five years on legal fees and litigation expenses, reports filed with the Federal Reserve show. According to news reports last month, the bank could face a $6 billion settlement from the Federal Housing Finance Agency over mortgage-backed securities sold to Fannie Mae and Freddie Mac.

Bank of America's shares closed  flat Monday at $14.92.


Anonymous said...

I did an online purchase, at the beginning of the year, for several hundred shares of b of a stock at $6.00 per share.

B of A confirmed the sale and the number of shares but when it was time to pay for the shares I had incorrectly keyed the last digit of my b of a account number.

B of A cancelled my trade.

I called them up on this and they said they don't have time to call customers to fix the problem.

Is that cold or what?

Anonymous said...

Was that you?? Wow..