Bank of America (NYSE:BAC) Not Out of the Woods Yet

Bank of America (NYSE:BAC) has received a pat on the back from the market and analysts after the agreement they made with Freddie Mac and Fannie Mae, but Barclays still has concerns over other lingering issues.

Barclays said, "BAC announced agreements with FNM and FRE to resolve repurchase representations and warranties claims involving certain residential�mortgage loans sold to them by CFC for $2.8 billion. We believe this addresses one of the uncertainties surrounding the shares of BAC at a cost that appears to be less than the market anticipated. We also believe it supports our view the industry's mortgage repurchase headwind is an earnings issue, not a capital one. Still, uncertainty around BAC's private label exposure should drag on, and questions about pre-provision net revenue growth and capital linger. Note, at $588 billion, we believe its non-GSE exposure, based on outstanding balances, exceeds its GSE exposure."

Barclays maintains an "Equalweight" rating on Bank of America, which closed Monday at $14.24, gaining $0.05, or 0.35 percent. Barclays has a price target on them of $19.