The analyst "concluded from that analysis that BAC will not need to raise capital, although BAC still needs to accumulate capital as quickly as possible."
Mosby added that "until short-term rates begin to rise, BAC's earnings power is between $10 billion and $12.5 billion a year," and that the company's after-tax mortgage losses ranges will range between $15 billion and $50 billion.
"While our best-case scenario could be funded with about one year's earnings, the worst-case scenario could create a $2 haircut to BAC's year-end estimated tangible book value per share of $14," he said.
Interested in more on Bank of America? See TheStreet Ratings' report card for this stock.
Email. Follow @PhilipvanDoorn
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV