Bank of America Two Week September Update

Bank of America dropped 1.17% during the first two weeks of September.  Bank of America heavily dropped the morning of September 1^st. Moynihan being chairman are more likely than not. Warren Buffett expressed his approval of Moynihan on being chairman saying he did a “first class job” already at BAC.  Over the past two weeks, the entire financial sector, especially regional banks and a few bulge bracket banks, have been upgraded by research firms. Bank of America has been very volatile over the past two weeks reaching as high as 16.35 and hitting lows of 15.50, mainly due to the major fluctuations in the market and the uncertainty in interest rates. An interest rate hike will certainly improve the standing and revenue generating ability of Bank of America. Bank of America also paid their dividend of $0.05/share on September 2^nd.