NEW YORK ( TheStreet) -- Bank of America shares set another 52-week low Tuesday as concerns about the bank's exposure to mortgage headaches continue to weigh on the stock despite an $8.5 billion settlement announced late last month. Bank of America shares fell to $10.20 shortly after Tuesday's open falling below Monday's low of $10.30, which was the lowest level for the stock in more than two years. The stock had rebounded after a half an hour of trading, however, and was in positive territory on the day. Bank of America management is likely disappointed by the stock market's reaction to its $8.5 billion settlement with 22 giant institutional investors in bonds backed by problem mortgages, including BlackRock ( BLK), Goldman Sachs ( GS) and the Federal Reserve Bank of New York. After rallying on the day of the June 29 announcement, Bank of America shares have steadily lost ground and are about 5% below their close on June 28, the day before the deal became public. Many analysts gave the deal a cool reception, including Paul Miller of FBR Capital Markets, who cut his price target to $12 from $14 while reiterating his "market perform" rating. "We remain on the sidelines with the stock until we get a much clearer picture on the company's earnings power. The $8.5B settlement removes the majority of claims against the company but now puts the cumulative losses above the high end of Bank of America's own estimate of $7B-$10B," Miller wrote in a June 29 note. Miller argues Bank of America "has left very little margin," to be able to meet higher international capital standards without being forced to raise new equity, and he notes the settlement does not resolve all Bank of America's disputes with mortgage bondholders. -- Written by Dan Freed in New York.