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Despite layoffs, Bank of America stock still strong

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According to Seeking Alpha, one commentator has continuously back Bank of America (BAC) noting that even Warren Buffet is riding the wave of success from the mega bank. And although the recent layoffs in the bank pose some risk, the bank still holds ground for shareholders.

Although risk continues to exist, specifically in dealing with rising interest rates and downsizing the mortgage sector of the company in the midst of the housing revival, I'm fairly confident that BAC will hold its ground for shareholders. I also think it's likely that BAC will, at some point going forward, increase its dividends.

Source: Seeking Alpha
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