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MarketScreener Homepage  >  Equities  >  Nyse  >  Bank of America Corporation    BAC

BANK OF AMERICA CORPORATION

(BAC)
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Bank of America : reaches $190 million mortgage settlement

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05/02/2016 | 05:56pm EST
File photo of the Bank of America logo at their offices at Canary Wharf financial district in London

(Reuters) - Bank of America Corp reached a $190 million settlement with a federal home loan bank over four mortgage-related complaints, according to a securities filing on Monday.

The bank had accrued "substantially all" of the settlement amount previously, Bank of America said in a filing with the U.S. Securities and Exchange Commission. The settlement was dated on April 25.

The litigation was started by the Federal Home Loan Bank of Seattle, which later merged into the Federal Home Loan Bank of Des Moines.

A spokeswoman for the merged entity referred Reuters to another securities filing showing it had reached a settlement with an unnamed bank on April 25, but declined to say whether it was with Bank of America.

(Reporting by Dan Freed; Editing by Sandra Maler)

Stocks mentioned in the article
ChangeLast1st jan.
APRIL 0.00% 21.8 Real-time Quote.9.27%
BANK OF AMERICA CORPORATION 0.06% 32.965 Delayed Quote.33.64%
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Financials (USD)
Sales 2019 91 774 M
EBIT 2019 36 629 M
Net income 2019 25 583 M
Debt 2019 -
Yield 2019 2,00%
P/E ratio 2019 12,2x
P/E ratio 2020 11,0x
Capi. / Sales2019 3,23x
Capi. / Sales2020 3,24x
Capitalization 296 B
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Technical analysis trends BANK OF AMERICA CORPORATIO
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 33,50  $
Last Close Price 32,93  $
Spread / Highest target 36,7%
Spread / Average Target 1,73%
Spread / Lowest Target -15,0%
EPS Revisions
Managers
NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
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