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Bank of America (BAC) returns to about flat after a 3% premarket pop on the Fannie Mae...

Bank of America (BAC) returns to about flat after a 3% premarket pop on the Fannie Mae settlement. The deal (along with the foreclosure-abuse settlement) looks to have wiped out Q4 earnings - by itself not a worry, but it what if it jeopardizes the bank's effort to get the Fed to allow larger capital returns in 2013?
Comments (4)
  • The Geoffster
    , contributor
    Comments (4012) | Send Message
     
    One hand washes the other.
    7 Jan 2013, 07:24 PM Reply Like
  • billmichael
    , contributor
    Comments (109) | Send Message
     
    This isn't really a suprise, most everyone knew that BAC was going to pay something. Isn't this already priced in and shouldn't make a difference?
    7 Jan 2013, 11:21 PM Reply Like
  • JamesChessing21
    , contributor
    Comments (118) | Send Message
     
    I agree, there will be no share buy-back and only a modest dividend possibly 30-40 cents ...the ambition of Moynihan is to build a fortress balane sheet...so that there is never again another TARP episode...
    8 Jan 2013, 05:37 AM Reply Like
  • jeff lauder
    , contributor
    Comments (172) | Send Message
     
    It proves BAC has the earning capacity to power through the claims and lawsuits. It also means the Book Value is a moving target. And the direction is UP! Long and strong for the last year!
    8 Jan 2013, 07:18 AM Reply Like
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