Big bank analyst Dick Bove has an eye on a man, and that special person is Brian Moynihan of Bank of America. Fresh off questioning the numbers and analysis in a recent Wall Street Journal article that shows Bank of America and Citigroup trading at a discount to their “cash values,” Bove said if he had to select one bank in which to invest it would be Bank of America.
Speaking and writing on CNBC, Bove notes that the cost of operations at Bank of America have been dramatically reduced under Moynihan’s term. Costs have been cut and with the bank’s stock trading at below its theoretical cash break-up value, Bove says the
Setup a free account to get access to this article (no credit card required).Login required to continue reading.
