Tuesday, April 29, 2014

Bank of America stock begins to rebound

A day after Bank of America shares were pummeled by the news the Charlotte bank would have to suspend its dividend increase and stock buyback program, investors sent the stock price climbing back up.

Bank of America's stock rose about 2 percent, closing at $15.24. That came the day after shares fell more than 6 percent.

A number of analysts recommended investors buy shares on the dip.

The bank's shares are still down 2 percent so far this year after two straight years of sizable gains.