Bank of America Corp.'s shares nearly dipped below $8 on Friday, amid more concerns about the Charlotte bank's mortgage woes.

After falling as low as $8.03 during the day's trading, the shares closed down about 7.4 percent at $8.17. The bank's shares had fallen 7.4 percent on Thursday.

The stock hasn't been this low since April 2009, when the bank was climbing out of the depths of the financial crisis. The stock is down more than 38 percent this year, the worst performance among the 24 stocks tracked by the KBW Bank Index.

Most bank stocks performed poorly Friday, as investors continued to fret about the U.S. and European economies. But Bank of America trailed other large banks, including Citigroup Inc., considered the most troubled large bank during the financial crisis.

"Bank of America, unfortunately, is the new Citigroup," said Miami-based banking consultant Ken Thomas.

Bank stocks will remain troubled because the nation's real estate and financial problems are ongoing, Thomas said. Now general economic conditions are raising concerns about a possible double-dip recession, he said.

At Friday's close, Bank of America's total market value was about $82 billion. That's down from $238 billion at the end of 2006.

In comparison, gadget maker Apple Inc. had a market value of $346 billion at Friday's close.

In a filing Thursday, Bank of America said it could face higher than expected claims from mortgage giants Fannie Mae and Freddie Mac to buy back soured mortgage loans. New York Attorney General Eric Schneiderman also filed a motion to stop the bank's $8.5 billion settlement with private investors over claims related to mortgage-backed securities.

In a report Friday, research firm CreditSights said Bank of America's repurchase liability could grow from previous estimates.

"We believe the company needs to convince investors that it has a handle on the likely range of losses from mortgage repurchases before its equity price can stabilize and then gain momentum," CreditSights said.

Analysts also remain concerned that Bank of America will have to raise more capital to absorb mortgage-related losses and to meet new international standards. Raising capital hurts existing shareholders because it dilutes the value of their holdings. It's particularly onerous to raise capital with a low share price because it requires a company to issue more shares to amass a desired amount of capital.

Bank of America chief executive Brian Moynihan, however, has insisted the bank won't need to sell more shares because it will continue to grow earnings and shed riskier assets. Bank of America's tier 1 common capital ratio, a closely watched measure of capital vs. assets, is still higher than a year ago, even after the bank took $20 billion in mortgage-related charges in the second-quarter, the bank has noted.

Moynihan will be on the hot seat Wednesday when he takes questions from investors during a conference call hosted by fund manager Bruce Berkowitz of Fairholme Capital Management, a Bank of America shareholder. The move is somewhat unusual, although a bank spokesman said Moynihan meets with investors in a variety of venues. Read More