Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>Here are the key points: We are off to a good start in the Q2 earnings season, with the growth pace steadily improving, an above-average proportion of companies beating EPS estimates, and companies generally providing a reassuring outlook for the coming periods. This should help sustain the ...

Bank of America (BAC) is fresh off its Tuesday post-earnings pop of 5.3%, after the financial institution reported a top-line beat for the second quarter. The shares today hit a two-year high of $44.44 in response, and are now up 30.9% in 2024, with support in place at their ascending 50-day moving average. If past is precedent, the bank stock could have even more room to run, thanks to a bullish combination flashing on the charts.Thanks to a post-earnings volatility crush, BAC’s recent peak comes amid hist ...

Loading...Loading...Bank of America Corp BAC reported better-than-expected second-quarter results on Tuesday.The company posted second-quarter fiscal 2024 net income of $6.9 billion and EPS of 83 cents, beating the analyst consensus estimate of 80 cents, according to data from Benzinga Pro.Revenue, net of interest expense, increased 0.8% year-over-year to $25.54 billion, beating the analyst consensus estimate of $25.22 billion.The net interest income was $13.7 billion (-3.0% Y/Y), as higher deposit costs mo ...

ProArtWork Bank of America (NYSE:BAC) submitted a better than expected earnings report card for the second fiscal quarter on Tuesday, driven by strong results in the investment banking division. The earnings report resulted in a more than 5% price gain, driving shares to their highest price since the beginning of FY 2022. The Wall Street bank also continued to see resilience in its net interest income and retained strong balance sheet quality. While I see risks relating to the federal fund trajectory in the ...

For Bank of America, digital channels have represented avenues of continued growth, making inroads with credit card spending in particular.According to management, there’s still room left for consumers to keep spending on those cards.The company said in a second-quarter 2024 earnings release that 53% of its consumer sales were made through digital channels in the quarter, up from 51%.The average deposits in the period stood at $949 billion, down 6% from a year ago, supplemental materials revealed. The compa ...

Bank of America Corporation (NYSE:BAC) Q2 2024 Earnings Conference Call July 16, 2024 8:30 AM ET Company Participants Lee McEntire - Investor Relations Brian Moynihan - Chief Executive Officer Alastair Borthwick - Chief Financial Officer Conference Call Participants Glenn Schorr - Evercore Jim Mitchell - Seaport Global Mike Mayo - Wells Fargo Securities Steven Chubak - Wolfe Research Betsy Graseck - Morgan Stanley Erika Najarian - UBS Ken Usdin - Jefferies Gerard Cassidy - RBC Vivek Juneja - JPMorgan Matt O ...

Loading...Loading...Goldman Sachs analyst Richard Ramsden reiterated a Buy rating on Bank Of America Corp BAC with a price target of $45.Bank of America reports fiscal 2024 second-quarter net income of $6.9 billion, beating estimates. Revenue increases 0.8% year over year to $25.5 billion, surpassing expectations.Bank of America anticipates net interest income of ~$14.50 billion in the fourth quarter.Ramsden noted the results as slightly better than expectations, given a core Pre-provision Net Revenue (PPNR ...

Loading...Loading...U.S. stocks traded mostly higher midway through trading, with the Dow Jones index surging more than 550 points on Tuesday.The Dow traded up 1.41% to 40,779.92 while the NASDAQ fell 0.05% to 18,463.13. The S&P 500 also rose, gaining, 0.35% to 5,651.05.Check This Out: Wall Street’s Most Accurate Analysts Weigh In On 3 Industrials Stocks Delivering High-Dividend YieldsLeading and Lagging SectorsIndustrials shares jumped by 2% on Tuesday.In trading on Tuesday, information technology shares f ...

We hit the ground running in this morning’s pre-market. Q2 earnings season for the next four weeks will bring us key performance numbers from all manner of publicly traded equities, while key economic data helps us interest-rate prognosticators keep tabs on the odds of a pending interest rate cut. The Dow, coming off an all-time closing high yesterday, is up another +150 points at the hour, the S&P 500 is +16 and the Nasdaq is +62 points at this hour.If we’re hoping for a July rate cut, we can uncross our f ...

Earnings season is here again, and kicking it off are financial stocks like the commercial and investment banks that most people avoid due to their complex business models. However, as these banking stocks start to report their quarterly figures, investors can get a feel for how the sector is doing and gain insight into how the rest of the economy is doing as a whole.Bank of America TodayBACBank of America$43.76 +1.87 (+4.46%) 52-Week Range$24.96▼$44.23Dividend Yield2.19%P/E Ratio15.14Price Target$40.41Add ...