Bank of America Corp (BAC) Lags Behind Peers in Early Morning Rally

So what’s up with Bank of America Corp (NYSE:BAC)
The other banks may be enjoying the overall market upswing this morning, with the KBW Bank Index up 0.94% just after 10:30 a.m., but Bank of America Corp (NYSE:BAC) is lagging behind, probably because of continued investor concern over its current legal battle. Though the bank recently disclosed that the $8.5 billion settlement to investors over soured mortgage-backed securities was generous given the option to take Countrywide into bankruptcy, opposition has hit back hard in court.

Though the hearing will not be resolved in the next few days, investors should keep an eye out for any news since the headlines will likely sway your stock’s price quite a bit. But for long-term investors, this case doesn’t effect the bank’s fundamentals, and the daily swings from investors who are scared shouldn’t concern you terribly.

The article Bank of America Lags Behind Peers in Early Morning Rally originally appeared on Fool.com.

Fool contributor Jessica Alling has no position in any stocks mentioned. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Bank of America, JPMorgan Chase, and Wells Fargo.

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