BofA (BAC) `Again a Growth Company' Says Moynihan

Bank of America Corp. (BAC) CEO Chief Executive Officer Brian T. Moynihan gave his giant bank a boost on Tuesday as he attempted to convince shareholders and potential investors the company was "again a growth company."

Moynihan claimed in an investor day presentation that “We can generate significant excess capital and return it to shareholders.”

Berkshire Hathaway (NYSE:BRK-A) CEO Warren Buffett, who is a bellwether himself, wasn't convinced, and divested of all his holdings in Bank of America last quarter, generating concerns over the growth prospects of the giant bank.

“We are changing the culture of the company from a company that was built upon acquisitions and consolidation,” Moynihan exclaimed. “We are again a growth company.” Only time will tell.

Bank of America closed Tuesday at $14.69, up $0.66, or 4.70 percent.