Bank of America
Bank of America's shares have now returned 69% year-to-date, following a 58% decline during 2011. The shares trade for 0.7 times their reported Sept. 30 tangible book value of $13.48, and for 10 times the consensus 2013 EPS estimate of 97 cents. Following a meeting with the company's CFO Bruce Thompson, Atlantic Equities analyst Richard Staite on Thursday reiterated his "Buy" rating for Bank of America, with a $12 price target, saying that Thomson had "expressed confidence that in Q4 there will be a decline in Legacy Asset Servicing costs, that mortgage delinquencies will decline and that the
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