NEW YORK (TheStreet) -- Shares of Bank of America BAC ar down -0.32% to $15.50 in pre-market trade as bank representatives have asked U.S. Attorney General Holder to meet with CEO Brian Moynihan in an attempt to resolve differences over a possible multibillion-dollar settlement involving shoddy mortgage securities sold by the second-largest U.S. bank and its units, sources say, Reuters reports.
Negotiators for Bank of America and the Justice Department have not met in more than a week and have no plans to do so after a series of meetings did not bring them close to a settlement amount, sources added.
TheStreet Ratings team rates BANK OF AMERICA CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate BANK OF AMERICA CORP (BAC) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, expanding profit margins, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: