Compass Point Research Comments on Bank of America

Compass Point Research provided color on Bank of America's BAC proposed settlement in a research report published today. In the report, Compass Point states, "We believe this proposed settlement is just a starting point and will likely increase meaningfully after the court hears arguments from other invested parties. We estimate the ultimate settlement will be in the range of $15.9B to $26.5B for this group. We believe this process will be drawn out, but would expect the time frame measured in months rather than years." Shares of Bank of America were trading at $11.14 at the time of posting, up 2.96% from Tuesday's market close.