Stock Alert : Most Active Stock on Dollar Volumes (NYSE: BAC)

Bank of America Corporation (NYSE: BAC):-

Bank of America Corporation shares are currently trading at $14.03 which is 0.50% higher than Friday’s closing price of $13.96. The company shares on Friday opened at $13.10 rose to daily high of $14.040, before falling to daily low of $13.750 and eventually closing at $13.96. The company shares have 52 week price high of $19.86 and 52 week price low of $13.30. Bank of America Corporation shares have 50 day moving average of $14.86 and 200 day moving average of $15.96. The company shares have support and resistance levels of $13.79 and $14.33.

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Bank of America Corporation late last week announced that it has hired Chad Holm to join its Asian financial institutions group in Hong Kong. Chad Holm previously worked as a Citigroup investment banker to institutions such as BlackRock Inc and NYSE Euronext. Chad Holm is expected to start October 1^st and will be reporting to Michael Tan and Inkyo Shu, head of financial institutions group in Hong Kong and Japan respectively. Bank of America Corporation in a filing to Securities and Exchange Commission last week announced that it has been seeing a fall in the number of requests to repurchase any bad mortgages which are not back by government guarantees.

Bank of America early this month announced its seventh consecutive achievement of outstanding rating awarded by the ‘Office of Comptroller of Currency’. The rating was provided following the company’s participation in fulfilling or going beyond ‘requirements of affordable housing, small business lending and many other areas of undeserved communities’.

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Bank of America Corporation last month announced its financial results for the quarter ended June 30 2010. The company posted net income of $3.1 billion for the second quarter of 2010, compared to net income of $3.2 billion announced a year ago during the same period. The company posted earnings per share of 27 cents for the second quarter of 2010, compared to 33 cents announced during the second quarter of 2009.

Bank of America Corporation is a leading global financial services company and the biggest United States lender by assets. The banking institution caters to individuals, government institutions, small, medium and large corporations in over 150 countries across the world. Bank of America Corporation is the biggest wealth manager following its acquisition of Merrill Lynch. North Carolina headquartered bank’s principal business segments can be classified into: retail banking, global banking, global wealth and investment management.

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