Bank of America (BAC) posts earnings beat as global markets business revenue growth continues

Bank of America (BAC) PT Raised to $46 at Evercore ISI

July 17, 2024 5:00 AM EDT

Evercore ISI analyst Glenn Schorr raised the price target on Bank of America (NYSE: BAC) to $46.00 (from $43.00) while maintaining a Outperform rating.

The analyst comments "Shares of BAC popped over 5% as investors got a better feel for how NII could expand in 2025 plus some... More

Bank of America (BAC) PT Raised to $46 at RBC Capital

July 16, 2024 4:34 PM EDT

RBC Capital analyst Gerard Cassidy raised the price target on Bank of America (NYSE: BAC) to $46.00 (from $39.00) while maintaining a Outperform rating.

The analyst comments "BAC's diversified business model continues to demonstrate its ability to navigate through uncertain times. Its core business of... More

Bank of America (BAC) PT Raised to $48 at Argus

July 16, 2024 2:30 PM EDT

Argus analyst Stephen Biggar raised the price target on Bank of America (NYSE: BAC) to $48.00 (from $45.00) while maintaining a Buy rating.

The analyst comments "Raising target to $48 as investment banking recovery continues On July 16, the company reported 2Q24 earnings of $0.83 per share,... More

CFRA Downgrades Bank of America (BAC) to Sell

July 16, 2024 11:09 AM EDT

CFRA analyst Kenneth Leon downgraded Bank of America (NYSE: BAC) from Hold to Sell with a price target of $39.00 (from $38.00).

The analyst comments "We raise our target $1 to $39, on a forward P/E of 11.5x our 2025 earnings estimate, in line with the three-year historic average and a... More

BofA profit beats expectation on robust investment banking, trading

July 16, 2024 6:47 AM EDT

By Niket Nishant and Saeed Azhar

(Reuters) -Bank of America's second-quarter profit dropped as higher deposit costs pushed its interest income lower, but the results beat analysts' estimates, boosted by investment banking and trading.

Shares climbed more than 4% after BofA also forecast better-than-expected net interest income (NII) - the difference between what banks earn on loans and pay out on deposits - for the fourth quarter.

CEO Brian Moynihan cited growth in new consumer checking accounts for the 22nd consecutive quarter in a conference call with analysts. He began the call by wishing former U.S.... More

Bank of America (BAC) Tops Q2 EPS by 3c, Beats on Revenue

July 16, 2024 6:46 AM EDT

Bank of America (NYSE: BAC) reported Q2 EPS of $0.83, $0.03 better than the analyst estimate of $0.80. Revenue for the quarter came in at $25.4 billion versus the consensus estimate of $25.24 billion.

For earnings history and earnings-related data on Bank of America (BAC) click here.

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Stocks expected to have increasing option volume: BAC STT MS PNC SCHW UNH NFLX

July 16, 2024 5:14 AM EDT

Stocks expected to have increasing option volume: BAC STT MS PNC SCHW UNH NFLX

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Powell's speech, Bitcoin, retail sales - what's moving markets

July 16, 2024 4:30 AM EDT

Investing.com -- Comments from Fed chief Jerome Powell have cemented expectations that the Federal Reserve will start cutting interest rates in September. Investors will look to retail sales data for confirmation of a slowing economy, while there are more bank earnings to digest during the session. Meanwhile bitcoin has gained as traders see a Trump presidential victory as more likely after the assassination attempt.

1. Cementing a September rate cut

Confidence is growing that the Federal Reserve will agree to an interest rate cut in September, after... More

Bank of America (BAC) July 41.50 and 42 calls active into quarter results

July 15, 2024 11:16 AM EDT

Bank of America (NYSE: BAC) July call option implied volatility is at 45, August is at 25; compared to its 52-week range of 18 to 36 into the expected release of quarter results before the bell on July 16.

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ECB Set To Delay Leveraged Loan Probe Findings On Bank Backlash - Bloomberg

July 15, 2024 7:51 AM EDT

(Updated - July 15, 2024 7:52 AM EDT)

ECB Set To Delay Leveraged Loan Probe Findings On Bank Backlash - Bloomberg

Likely To Move Date To At Least September: SourcesLikely To Lower Demands For Additional Loan Loss Provisions... More