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Bank of America (#BAC) announced Q2 earnings and gave investors mixed feelings. America's second largest bank reported Q2 GAAP EPS of $1.03 beats by $0.26, but missed on revenue by $300M.
Shares of BAC are trading at $38.86, which are up +64% over the 1Y, but flat over the past five months. Can the stock go higher, or has it reached its limit? In June, the bank announced a dividend increase of +21% and shares fell on the news. Now the bank missed on earnings, which is making investors question if it can continue to dip from its 52 week high of $43.49.
Is now the time to buy the BAC dip, or will it continue dipping?