24/7 Wall St.

Bank of America Corp. (NYSE: BAC) has reported earnings of $0.00 per share, or $340 million in net income, after items on revenue of $20.43 billion. Thomson Reuters estimates were -$0.07 per share and $21.89 billion in revenue. We would note that there were some previously announced items that took away $0.28 in EPS and also total revenue on a debit valuation adjustment and fair value option basis was listed as $22.529 billion.

The bank still trades at an incredible discount to its book value and that book value rose in the quarter. Tangible book value per share rose to $13.48 versus $13.22 one quarter ago; the stated book value per share was $20.40 versus $20.16 one quarter ago.

Regulatory capital ratios increased in the quarter. Tier 1 common capital ratio under Basel 1 rose to 11.41% and its Tier 1 common capital ratio under Basel 3 on…

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