Why People Might Be Surprised By Bank Of America's Profitability This Year

Bank of America Corp

is one of the banks that took longest to recover from the financial crisis. Its stock fell more than 4.5 percent in the past five years, 10 percent year-to-date, and about 3.16 percent over the past month. Talking with Benzinga, David Alton Clark, Top Financial Blogger and former Citigroup Program Manager, provided his perspective on the company and its stock, which he has been following for a long time. The analyst says he got bullish on the stock back when it hit just below $5, and (despite some hesitation) maintained the positive stance ever since. "Right now, I think that stock is at an inflection point," Alton Clark assures. "The major long-term issue that it's had has been litigation risk and I think that's falling by the wayside… It's had a big effect on their EPS." He continues: "I think this year, that's going to go away and people are going to be surprised by the profitability of Bank of America."