At first glance, Bank of America (NYSE:BAC) looks more or less like any other bank. Likewise, BAC stock appears to be no better and no worse than similar investment options.

But that mindset glosses over the reality that no two banks are quite the same. In fact, although banks are in the same well-defined and highly-regulated business, their stocks are surprisingly distinct from one another.

If you’re weighing Bank of America stock against the stocks of its peers and rivals, you may want to start comparing and contrasting. To help you do so, please find below three things working in BAC’s favor and three issues that could turn into liabilities for BAC sooner rather than later.

3 Pros of BAC Stock

The mega-bank has much going for it, but three positive attributes of Bank of America stock stand out above all others right now.

1. BAC’s Net Interest Margins Are Rising

Rising interest rates have made lending money a more profitable venture for banks. B of A’s net interest income was up 6% to $12.5 billion last quarter, while its net interest yield improved by 0.09 percentage points, reaching 2.48%.

2. Cost Cutting Led to a Record Profit

In the middle of 2016, Bank of America’s CEO announced that he would look to cut the company’s expenses by $53 billion. It’s been difficult to determine the extent to which the bank has met this goal, as B of A has also been forced to spend more money to exploit an unexpected growth opportunity. But by and large, the effort appears to have made a measurable impact on the bottom line. Last quarter’s net income of $7.3 billion was a record, as was BAC’s full-year profit of $28.1 billion.

3. BAC Stock Is Highly Regarded

Bank of America is highly regarded by all market participants, and BAC stock remains one of the favorite names in the sector. Hilton Capital Management’s Dick Bove said that BAC’s fourth-quarter numbers were “incredibly impressive.” Analysts rate BAC stock either as high as or higher than all of its peers.  And, since bottoming on Dec. 24, BAC stock has outpaced all other major bank stocks with a 25% gain.

3 Cons

It’s not all sunshine and roses for Bank of America stock, however. Current and prospective owners of BAC stock should keep tabs on a trio of liabilities.

1. BAC’s Loan Growth Is Slowing

There are two components to any bank’s lending profits. The first one is the profit margins on loans it makes, which is the difference between its own cost of capital and what it collects in interest from borrowers. Bank of America’s profit margins on loans improved during Q4.

The other component is the sheer size of the loan portfolio. It grew last quarter by 1.9% or an annualized pace of around 7.7%. But BAC CEO Brian Moynihan cautioned during its Q4 earnings conference call that 2019’s loan portfolio growth could slow to the “low single digits.”

2. BAC Stock Has a Low Dividend

Income-minded investors won’t be thrilled with how much cash they’re collecting from their investment in Bank of America stock every quarter. Mostly due to prior increases of BAC stock price, Bank of America stock currently has a modest dividend yield of 2.1%. For perspective, Citigroup (NYSE:C) stock is paying out 2.9%. Wells Fargo (NYSE:WFC) yields 3.5%, while JPMorgan’s current payout is 3.1%.

3. Millennials Distrust Big Banks

Finally, though it’s difficult to quantify or qualify the likely impact, millennials generally distrust big banks.

There’s a mountain of evidence that millenials don’t like big banks. A 2016 poll of people between the ages of 18 and 36, for instance, showed that 37% of them don’t trust the mega-banks. A huge swath of this crowd is willing to try out online-only options or smaller banking-service providers like credit unions. Though Bank of America arguably has the best online tools and apps, and that attribute should appeal to younger consumers, Moynihan noted during the bank’s most recent earnings call that millennials weren’t driving most of the increase in their usage.

This lack of loyalty from a demographic that should be using digital options more than any other is a concern, as millenials are on the verge of entering their high-earnings years and inheriting a great deal of wealth.

The Bottom Line on Bank of America Stock

All three pros and cons will shift as time marches on, and some may vanish and be replaced by new ones. On balance, though, the negative catalysts of BAC stock have been historically outweighed by all that BAC has working in its favor.

Indeed, although B of A struggled more than other banks to cope with the problems that materialized in the wake of the subprime meltdown, in some ways those failed and half-passed stress tests may have resulted in the company becoming a leaner, tougher machine.

Low dividend or not, BAC stock remains one of the better banking stocks.

As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can follow him on Twitter, at @jbrumley.