I'm Banking on Bank of America Corp.

Added the finance sector to the virtual portfolio, by buying up 2,173 shares of Bank of America Corp. (BAC) at $45.98, for a total current position size of $100,175.30. Yes, Bank of America is trading near its 52-week high of 47.44. However, the stock does have a lot of positive statistical valuations on its side. Its trailing price/earnings per share is only 11.1, and its forward price/earnings per share is only 10.48. It pays out a healthy dividend of $2.00, which when factored into the current stock-price gives a dividend yield ratio of about 4.30%. It has a current debt/equity ratio of only 0.99, and an income growth rate of 27.4%.

Encouraging financial news regarding Bank of America Corp. :

CNNMoney.com: "Two banks allowed to start commercial developments."

New York Daily News: "Finding dividends in 2006."

finanzen.net: "Bank of America Business Capital Provides Euro 200 Million Asset-Based Loan to Waterford Wedgwood plc."

TheStreet.com: "The Curious Lethargy of Bank Stocks." (Subscription Needed) In the section readable without a subscription, there is a great quote by an Alan Farley: "Bank stocks have another week or two to make their move. Foreign banks listed on the NYSE are rising strongly."

Banking Business review: "Bank of America expands online security feature."

The financial sector and the banking sector in particular will most likely move higher after the January 31st Fed meeting mentioned in the post: A Bullish Start for the New Year! The market will further realize that the Fed will soon cease its gradual raising of the short term lending rates. This should improve overall profit margins for banks like Bank of America.