Bank of America May Buy Back Stock, But Not Too Much

Bank of America has authorized a 75-million stock repurchase plan good through December 2009. But the $3.75 billion may stay under the mattress until the fourth quarter of next year, some analysts believe, given the institution’s earlier statements that it would not repurchase shares before the end of 2009. On the other hand, some argue BofA may mop up shares in the wake of the Countrywide deal, which has driven down its share price from $52.96 on Oct. 11, 2007 to about $28.