Bank of America thinks its stock is cheap. And to show you that it's serious, the firm plans to buy back more of its own shares. Bank of America has announced plans to buy back an additional $5 billion of its own stock. This comes just five months after announcing a $12 billion repurchase. Bank of America and other Wall Street heavyweights were emboldened to buy back more of their own stock back in late June, when the Federal Reserve gave across-the-board approvals for their financial plans.
