Bank of America's Stocks Most Likely to Shoot up by December

By Raizel Albano 30 Nov, 2016 09:22 EST

BAC stock saw its all-time high in eight years last Friday. PBS.

With US President-elect Donald Trump coming to the fore as Head of State by January 2017, Bank of America Corporation's stocks (NYSE: BAC) have been on the spike and are expected to rise phenomenally by December. Trump, a long-time businessman and investor, is expected to put into policy generous incentives to the financial industry.

Bank of America currently holds 114 million shares, and is the most actively traded stock in the US. In this early half of the week alone, BAC's stocks have been rising to as much as 1.2%. Last Friday saw BAC's highest stock price at $20.86, the highest in eight years.

BAC saw its stocks skyrocket since the commencement of the US elections, with Donald Trump emerging as the new president. BAC stocks went to as high as 19%.

Instinet analyst Steven Chubak says that this phenomenon is known as the "Goldilocks" scenario for the banking industry, featuring high interest rates, improved economic growth and reduced regulations. The only thing to watch out for, Chubak says, is once investor pricing comes into the picture. Major investor decisions may make or break the skyrocketing prices of BAC stocks. As of last Friday, BAC stocks are at $20.86. Chubak expects the price to get to $25 by the end of the year.

Brian Kleinhanzl, analyst for Keefe, Bruyette & Woods, is on the same note as Chubak saying there is "still room to move" amidst the sudden shoot-up of BAC stocks. He expects BAC stock prices to reach up to $23.00.

The Trump administration is said to be on the side of financial institutions seeing their promise for US growth. On an interview last May, Trump says he wants to see the overhaul of the Dodd-Frank Act, a financial regulatory law passed in 2010 under the Obama administration. Following the big recession of 2008, the Dodd-Frank Act limits the state and the public's dependence on banks, and places the financial industry's regulation on the state.

Trump is quoted into saying, "Dodd-Frank has made it impossible for bankers to function... It makes it very hard for bankers to loan money for people to create jobs, for people with businesses to create jobs. And that has to stop."

Analysts foresee BAC's rising stocks to be a boon to higher long-term interest rates as these can give way to higher bank profits, larger capacities to take more people under the bank's accounts, and decreased financial risks both for banks and depositors.

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Bank of America's Stocks Most Likely to Shoot up by December

Survey: Hong Kong teens generally identify with traditional Chinese cultural values

Many American churchgoers expect their pastors’ sermons to help them understand and address modern cultural issues American churchgoers are looking for more than biblical explanation from their pastor each week. Many expect the sermons to help them understand and address modern cultural issues.

Survey: Hong Kong teens generally identify with traditional Chinese cultural values

Global Lutherans celebrate Reformation Day, ‘trusting in the power of grace in a merciless time’.

Many American churchgoers expect their pastors’ sermons to help them understand and address modern cultural issues

2.1M Korean Christians estimated at joint worship service to affirm family, oppose gay marriage, pray for nation

Many American churchgoers expect their pastors’ sermons to help them understand and address modern cultural issues
American churchgoers are looking for more than biblical explanation from their pastor each week. Many expect the sermons to help them understand and address modern cultural issues.