Jim Cramer made the following calls on July 17th, 2013. What do you think about his picks?
Bank of America Corporation (NYSE:BAC): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on April 5, 2013. The stock’s 52-week high is $14.44, and its 52-week low is $6.90.
While Cramer said earlier this week that he preferred Wells Fargo (NYSE:WFC) to Bank of America, he said last night that he still thinks the stock is worth buying. The conference call for the second quarter indicated a wealth of information about the strong stock, including a commitment to share repurchases. According to chief financial officer Bruce Thompson, “Also helping our tangible book value per share in the quarter was the return of roughly $1 billion of capital through the repurchase of 80 million common shares at a price below tangible book value. And as we look forward, we have an additional $4 billion available for common share repurchases.”