Agree to some extent, but keep in mind the "front running" at the HFT exchanges is also an issue keeping BAC in a channel. Also, look at the approved buyback,..like 20 .7 BILLION dollars worth. That will buy back about 900 MILLION shares!At the same PPS, and given the revenue as is you are looking at a 12-15% increase in EPS considering the buyback. The 25% divy increase is small, but at least it is an increase. Granted the BAC Stock is a poor performer, and sadly might stay here for a while.Cheap price makes it easy to manipulate for the rebate alone.
One can beat the divy elsewhere for about the same price, but BAC has "legs", so play it!
GLTY
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