Goldman Sachs Comment on Bank of America (BAC) Q1; Results Have Something for Bulls and Bears
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April 16, 2014 2:55 PM EDT
Bank of America (NYSE: BAC) and the U.S. Dept. of Justice are said to be in discussions over mortgage-backed security (MBS) sales.
The WSJ reported on Wednesday that timing on the settlement isn't firm, but that talks... More
April 16, 2014 8:51 AM EDT
Evercore Partners analyst Andrew Marquardt offered an early read of Bank of America's (NYSE: BAC) first quarter results calling them "noisy" but earnings power was OK with core EPS of $0.26.
Marquardt comments, "Overall, noisy results but about in line to slightly below expectations. Core spread in... More
April 16, 2014 7:02 AM EDT
Bank Of America Corp. (NYSE: BAC) reported Q1 EPS of $0.35, $0.08 better than the analyst estimate of $0.27. Revenue for the quarter came in at $22.8 billion versus the consensus estimate of $22.38 billion.
Unadjusted net loss was $.05 per share. The results for the first quarter of 2014 include $6.0 billion in litigation expense related to the previously announced settlement with the Federal Housing Finance Agency (FHFA), and additional reserves primarily for previously disclosed legacy mortgage-related matters.
"The cost of resolving more of our mortgage issues hurt our earnings this quarter, said Chief Executive Officer Brian Moynihan. But... More
