Bank of America
Shares of Bank of America (BAC - Get Report) were down slightly to close at $12.23. The shares have returned 5% this year, following a 110% return during 2012. The shares trade for 0.9 times their reported Dec. 31 tangible book value of $13.36, and for 9.4 times the consensus 2014 earnings estimate of $1.30, among analysts polled by Thomson Reuters. The consensus 2013 EPS estimate is 98 cents. Atlantic Equities analyst Richard State said Wednesday the continued strengthening of the U.S. housing market supports " at least 40% upside" for Bank of America's shares, as rising home prices drive "lower operating costs, lower provision costs and increased capital return." The provision costs refer to additions to loan loss reserves, as well as reserves for mortgage repurchase claims.