Morgan Stanley: Greece Calls In Sick Loser
Shares of Bank of America (BAC) declined over 4% to close at $7.60
The shares trade for 0.6 times their reported March 31 tangible book value of $12.87, and for nearly eight times the consensus 2013 EPS of a dollar, among analysts polled by Thomson Reuters. The consensus 2012 EPS estimate is 59 cents.
With Fannie Mae (FNMA) and Freddie Mac (FMCC) maintaining their more aggressive stance on pursuing mortgage putback claims against the largest U.S. loan servicers, investors will be very interested to see what Bank of America has to say on the matter when the company reports its second-quarter results on July 18.