Saite said that Bank of America's net interest income "will also benefit from
The analyst is expecting major expense reductions for the company, saying that "the two key drivers of BAC's earnings over the next three years will be its success in reducing Legacy Asset Servicing (LAS) costs, which were running $10bn above normal in Q3 2012, plus the amount of the "New BAC"
Staite is way out in front of the consensus, estimating that Bank of America will earn $1.23 a share in 2013, followed by EPS of $1.53 in 2014.
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