Bank of America to cut dividend?

January 14, 2009 | By Jim Kim

Analysts seem to be growing more pessimistic about the near-term prospects for Bank of America. A Citi analyst told clients he expected further deterioration in Bank of America's earnings and cut his 2009 EPS estimate to just $0.25 per share.

The analyst also said that Bank of America might have to cut its dividend, as early as January 20, when the company reports quarterly results, notes a commentary on Seeking Alpha. It may not have a choice. Mounting loan losses and TARP issues may force it to act. Of course, a lot of other banks are in the same boat.

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