Bank of America's stock soars after passing stress test

Last year, the Fed rejected a modest dividend increase the bank had requested, embarrassing Chief Executive Brian Moynihan. This year, Bank of America said it wasn't asking to hike its penny-per-quarter payout or to buy back shares. Instead, it would continue to build capital as it works to absorb mortgage-related losses and meet new international standards.

Bank of America's performance in the stress test was "adequate" and without the drama of last year, said Gary Townsend, chief executive of Hill-Townsend Capital in Maryland, which invests in bank stocks.