UBS Maintains a 'Neutral' on Bank of America (BAC); Capital Concerns Come Into Focus

UBS maintains a 'Neutral' on Bank of America (NYSE: BAC), PT lowered from $12 to $10.50.

UBS analyst says, "We believe BofA likely has sufficient capital to hit regulatory deadlines for Basel III compliance, which begin 1/1/2013. However, concerns are being raised in the marketplace about the potential losses from pending settlements (i.e. state AGs, private label mortgage) and the impact that these settlement could have on BofA’s capital base, which is ultimately weighing on BAC shares...We are lowering our 2012 earnings estimates to $1.25 from $1.35, driven by slower than previously expected credit improvement in residential mortgage and no share repurchases. No change to our 2011 estimates."

For more ratings news on Bank of America click here and for the rating history of Bank of America click here.

Shares of Bank of America closed at $9.57 yesterday.

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