Going forward, financial performance should be the single largest contributor to movements in the share price.
No bank ever wants to be cursed on Main Street, but Bank of America Corp (NYSE:BAC) generates the majority of its revenue from its Global Banking, Global Markets, and Global Wealth and Investment Management (GWIM) businesses — all segments that operated under a slightly different light and perception than the bank’s troubled mortgage and consumer businesses, which are often the object of the public outcry.
It may take years, or even decades, for the big banks to regain public favor, but if returns on equity crank higher and balance sheets strengthen, investors will gladly overlook some unhappy customers in exchange for healthy profits.
The article Will These Punches Knock Out Bank of America? originally appeared on Fool.com is written by David Hanson.
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