BofA estimate trimmed after GSE settlement

Raymond James' Anthony Polini cuts his Q1 EPS estimate by $0.09 to $0.30 per share after Bank of America (BAC +1.5%) says its will take a charge of $0.21 per share to reflect its MBS settlement with the GSEs.

Polini's outlook, however, remains well above the Street estimate of $0.28 which likely does not reflect the settlement. He retains an Outperform rating on the stock with $20 price target, based on 12.5x 2015 earnings, noting the country's 40 largest banks trade at 13x 2015 estimates.

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Comments (2)
  • DeepValueLover
    , contributor
    Comments (11220) | Send Message
    Surprisingly, this sounds like a fair analysis.
    31 Mar 2014, 10:39 AM Reply Like
  • Hello Again 83
    , contributor
    Comments (693) | Send Message
    Very encouraging for BAC
    31 Mar 2014, 12:46 PM Reply Like
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