Deutsche Bank Comments on Bank of America

Deutsche Bank has published a company alert on Bank of America BAC. In the report, Deutsche Bank wrote, "Consistent with BAC's preannouncement from the other week, 2Q results were a loss of $0.90. Excluding a number of items BAC points to, EPS was $0.33--which included $2.4b of reserve release. There were no updates/surprises related to putbacks or capital vs. BAC's preannouncement. Tier 1 common under Basel 1 came in at 8.2% vs. mgmt's estimate of above 8%. All other capital and putback commentary was reiterated." Deutsche Bank rated Bank of America a HOLD with a target price of $14.00.