Photo of Bank of America ATM Machine by Brian Katt, Framingham Rest Stop, Massachusetts. (Photo credit: Wikipedia)

Invest In The Stock Of Bank Of America

Bank of America, as its name suggests, is a multinational corporation offering banking and financial services that is based in America. In terms of assets, Bank of America ranks second as far as bank holding companies are concerned. In the year 2010, Forbes has also listed it as the third largest company globally. This company also offers stocks to the common public for the purpose of investment, it is abbreviated as BAC in case of the New York Stock Exchange. Since this is such a huge company, one of the largest in America, therefore people automatically assume that investing in its stocks is a good idea. While this notion is certainly true, there are other reasons too that makes the investment worthwhile.

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Big Bank Earnings: The Week Ahead Could Be Make Or Break

With five of six of the largest banks in the nation scheduled to report earning results for the fourth quarter, for the financial sector it is a make or break week. On Wednesday morning Goldman Sachs (GS) and JP Morgan (JPM) report. On Thursday it will be Bank of America (BAC) and Citigroup (C) while Friday it is Morgan Stanley (MS).

There have been strong gains for bank stocks ahead of these critical earnings reports. The Financial SPDR ETF (XLF) which carefully follows more than 80 diversified financials has shown a gain of over 4% since the beginning of the year and from one year ago 23%.