Jim Cramer on Bank of America: "Be Sure to Do Some Buying"

Bank of America Corporation (NYSE:BAC) is one of the stocks Jim Cramer shed light on. Cramer recommended buying the stock, as he remarked:

“Now these aren’t flash. When Bank of America announced a $40 billion buyback the other day and nobody even notices, I regard that as a terrific sign. We want boring, we want no flash, we want gray flannel suits, and that’s just what we’re getting to fuel this rally. So yawn away, but be sure to do some buying.”

Bank of America (NYSE:BAC) provides financial services, including personal banking, loans, credit cards, wealth management, and investment solutions. The company also offers corporate lending, treasury services, capital markets expertise, and global trading and risk management products. During the July 11 episode, Cramer discussed the company’s low valuation, as he said:

“Let me ask you something. Why is Bank of America stock still just selling at 13 times earnings? The franchise has been putting up consistently terrific earnings. Brian Moynihan’s doing a great job. I think the stock’s cheap because of the relentless selling from Berkshire Hathaway. One day, Berkshire will finish selling, and when that happens, you’ll be paying a much higher price-to-earnings multiple for this fine bag. My advice: Don’t wait for them to finish. There’ll be a good quarter.”

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Disclosure: None. This article is originally published at Insider Monkey.