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Bank of America Corporation Message Board

  • cchaker cchaker Jan 14, 2013 2:15 PM Flag


    Given the chance of on-going earnings variability, and the credibility risk to management of having a capital plan rejected by regulators, we do not expect BAC to request an increase in the regular dividend.
    However, the bank is better-capitalized than JPM which already has regulatory approval for a stock buyback so that it makes sense for BAC to request a modest one-time capital distribution of its own.
    With the stock trading at or below tangible book value of ~$13, the economics of a stock buyback are good and, we believe, will be preferred by management over the alternative (for a one-time distribution) of a special dividend.

    Sentiment: Strong Buy

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