Uccmal Posted January 9, 2014 Share Posted January 9, 2014 not the foggiest idea. After this run they are bound to disappoint though. Link to comment Share on other sites More sharing options...
newbee Posted January 10, 2014 Share Posted January 10, 2014 Another 11.7 billion settlement rumor/possibility for bac. Is this already reserved? http://dealbook.nytimes.com/2014/01/09/wall-street-predicts-50-billion-bill-to-settle-u-s-mortgage-suits/?partner=yahoofinance&_r=0 Link to comment Share on other sites More sharing options...
wescobrk Posted January 10, 2014 Share Posted January 10, 2014 Seems like Groundhog Day. Jeez. Link to comment Share on other sites More sharing options...
alertmeipp Posted January 10, 2014 Share Posted January 10, 2014 Gov is making tons of $$ from the banks ... amazing. Link to comment Share on other sites More sharing options...
wescobrk Posted January 10, 2014 Share Posted January 10, 2014 They lost a ton on GM but instead they sell their stake and the taxpayer loses 10 billion. The banks they made tens of billions and they keep coming back. It's a defacto nationalization. Link to comment Share on other sites More sharing options...
portfoolio Posted January 10, 2014 Share Posted January 10, 2014 So much negativity on this board even as the stock continues to go up. Lots of negativity since around $13. Not impressed. Book value is $20.50 that's all you need to know to predict the stock price. Link to comment Share on other sites More sharing options...
fareastwarriors Posted January 10, 2014 Share Posted January 10, 2014 Another 11.7 billion settlement rumor/possibility for bac. Is this already reserved? http://dealbook.nytimes.com/2014/01/09/wall-street-predicts-50-billion-bill-to-settle-u-s-mortgage-suits/?partner=yahoofinance&_r=0 Not more executives thrown in jail but just more shareholder money being squandered. Link to comment Share on other sites More sharing options...
fareastwarriors Posted January 10, 2014 Share Posted January 10, 2014 Banks Cut as Mortgage Boom Ends http://online.wsj.com/public/page/reader-comments.html?baseDocId=SB10001424052702303754404579310940019239208&headline=Banks%20Cut%20as%20Mortgage%20Boom%20Ends Link to comment Share on other sites More sharing options...
Uccmal Posted January 10, 2014 Share Posted January 10, 2014 JPM has gone up some 15% since they announced their deal. So, let's get it over with. The market is a forward predicting machine. This news is factored into the stock price. If you unwind the mess of lawsuits BAC has already paid some of this out along the way. JPM did it all in one shot. Link to comment Share on other sites More sharing options...
maxthetrade Posted January 10, 2014 Share Posted January 10, 2014 "Wall Street could pay nearly $50 billion to buy peace from federal authorities who are taking aim at the banks over their role in the mortgage crisis, according to interviews and a confidential analysis of the industry’s potential legal exposure. Bracing for a potential reckoning, the banks and their outside lawyers are quietly using JPMorgan Chase’s record $13 billion mortgage settlement in November to do the math and determine just how much each bank might have to pay to move beyond the torrent of government mortgage litigation that has dogged them since the financial crisis. Such calculations, people briefed on the matter said, have gained particular urgency among the banks’ board members. ... The analysis, which lawyers prepared for one of the financial institutions and which was reviewed by The New York Times, indicates that Bank of America could ultimately settle for $11.7 billion in penalties, with an additional $5 billion in relief to homeowners." http://dealbook.nytimes.com/2014/01/09/wall-street-predicts-50-billion-bill-to-settle-u-s-mortgage-suits/?_r=0 Link to comment Share on other sites More sharing options...
fareastwarriors Posted January 10, 2014 Share Posted January 10, 2014 Why Bankers Have Gotten a Pass http://www.nytimes.com/2014/01/10/opinion/why-bankers-have-gotten-a-pass.html?hp&rref=opinion&_r=0 Link to comment Share on other sites More sharing options...
portfoolio Posted January 12, 2014 Share Posted January 12, 2014 Basel Regulators Ease Leverage-Ratio Rule for Banks http://www.bloomberg.com/news/2014-01-12/banks-get-scaled-back-rule-on-debt-limit-from-basel-regulators.html Link to comment Share on other sites More sharing options...
fareastwarriors Posted January 13, 2014 Share Posted January 13, 2014 http://blogs.wsj.com/moneybeat/2014/01/13/banks-to-keep-padding-profits-by-freeing-up-reserves/?mod=WSJ_LatestHeadlines Banks to Keep Padding Profits by Freeing Up Reserves Link to comment Share on other sites More sharing options...
wescobrk Posted January 14, 2014 Share Posted January 14, 2014 Anyone know rough estimate of time for Aig 8.5 billion settlement? Link to comment Share on other sites More sharing options...
OracleofCarolina Posted January 14, 2014 Share Posted January 14, 2014 It's in the judge's hands now...there is no way to know now Link to comment Share on other sites More sharing options...
jay21 Posted January 14, 2014 Share Posted January 14, 2014 Anyone know rough estimate of time for Aig 8.5 billion settlement? I believe the market consensus is that it will hit rmbs trusts somewhere between .5 and 2 years. Link to comment Share on other sites More sharing options...
OracleofCarolina Posted January 15, 2014 Share Posted January 15, 2014 Well...we got earnings coming out in the morning...I hope no surprises...I want BAC to continue to be "too boring to fail". Link to comment Share on other sites More sharing options...
writser Posted January 15, 2014 Share Posted January 15, 2014 Bank of America Reports Fourth-quarter 2013 Net Income of $3.4 Billion, or $0.29 per Diluted Share, on Revenue of $21.7 Billion(A) Period-end Consolidated Deposit Balances Increased $14 Billion to Record $1.12 Trillion Period-end Loan Balances Increased $20 Billion to $928 Billion Combined Debit and Consumer Credit Card Spending Rose 4.0 Percent to $123 Billion Period-end Commercial Loan Balances Increased $42 Billion to $396 Billion Global Wealth and Investment Management Pretax Margin Increased to 26.6 Percent From 21.1 Percent Record Global Banking Revenue of $4.3 Billion, up 9 Percent Achieved New BAC and Legacy Assets and Servicing 2013 Cost Savings Targets Credit Quality Continued to Improve With Net Charge-offs Down 49 Percent; Ratio at 0.68 Percent Basel 1 Tier 1 Common Capital of $145 Billion, Ratio of 11.19 Percent Basel 3 Tier 1 Common Capital Ratio of 9.96 Percent, up From 9.25 PercentD link Link to comment Share on other sites More sharing options...
actuary Posted January 15, 2014 Share Posted January 15, 2014 Through 4Q, they have repurchased $3.2B of common at an average price of $13.90 (232m shares). Period end shares outstanding is 10.59B versus 10.78B one year ago. Diluted shares are up quite a bit YoY, however. I have to agree with Al about trading some tax efficiency for the discipline of the dividend. Link to comment Share on other sites More sharing options...
Uccmal Posted January 15, 2014 Share Posted January 15, 2014 Where does one find if they have released reserves into earnings? Link to comment Share on other sites More sharing options...
nkp007 Posted January 15, 2014 Share Posted January 15, 2014 Through 4Q, they have repurchased $3.2B of common at an average price of $13.90 (232m shares). Period end shares outstanding is 10.59B versus 10.78B one year ago. Diluted shares are up quite a bit YoY, however. I have to agree with Al about trading some tax efficiency for the discipline of the dividend. The 5% dilution every year makes me sad. Pay your employees more, don't give away cheap stock options that don't incentivize properly. Link to comment Share on other sites More sharing options...
Uccmal Posted January 15, 2014 Share Posted January 15, 2014 allowance for Loan losses: 19.4 b in September to 17.4 Billion in December. Pg. 6 supplemental. Some of this is obviously taken off the balance sheet as payments are made. Is some going to pad the earnings? 474 M released from counsumer real estate by the looks of it. I am trying to get at the total amount of reserve releases since they are a one time income item that can be significant. Link to comment Share on other sites More sharing options...
wescobrk Posted January 15, 2014 Share Posted January 15, 2014 Up to 17.25 in premarket. I bought some short term calls at16.42. Speculative but paid off. I'm off to a great year:) Link to comment Share on other sites More sharing options...
writser Posted January 15, 2014 Share Posted January 15, 2014 Through 4Q, they have repurchased $3.2B of common at an average price of $13.90 (232m shares). Period end shares outstanding is 10.59B versus 10.78B one year ago. Diluted shares are up quite a bit YoY, however. I have to agree with Al about trading some tax efficiency for the discipline of the dividend. The 5% dilution every year makes me sad. Pay your employees more, don't give away cheap stock options that don't incentivize properly. agreed, horrible. Link to comment Share on other sites More sharing options...
racemize Posted January 15, 2014 Share Posted January 15, 2014 Through 4Q, they have repurchased $3.2B of common at an average price of $13.90 (232m shares). Period end shares outstanding is 10.59B versus 10.78B one year ago. Diluted shares are up quite a bit YoY, however. I have to agree with Al about trading some tax efficiency for the discipline of the dividend. The 5% dilution every year makes me sad. Pay your employees more, don't give away cheap stock options that don't incentivize properly. agreed, horrible. I do not understand why companies refuse to use their authorized buybacks. That has been the most disappointing part of this whole thesis/playout. Link to comment Share on other sites More sharing options...
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