Bank of America’s (BAC) first-quarter 2024 adjusted earnings of 83 cents per share outpaced the Zacks Consensus Estimate of 77 cents. The bottom line compared unfavorably with the 94 cents earned in the prior-year quarter.After considering the FDIC special assessment charge of $700 million, earnings per share was 76 cents.Despite modest loan growth (loan balances rose 0.3% from the prior-year period) and high interest rates, BofA recorded a decline in net interest income (NII) because of higher deposit cost ...

ToplineThe Senate Finance Committee has asked Bank of America to provide details about its handling of millions of dollars in fees made by billionaire private equity investor Leon Black to disgraced financier and sex offender Jeffrey Epstein, the New York Times reported Tuesday.File Photo: The Senate Finance Committee is investigating Leon Black $158 million payments to ... [+] Jeffrey Epstein between 2012 and 2017.© 2018 Bloomberg Finance LP Key FactsAccording to the Times, the committee’s chair Sen. Ron W ...

Key TakeawaysBank of America on Tuesday posted better-than-expected first-quarter results.During the three months, adjusted net income of $7.2 billion, or 83 cents per share, was well above expectations.The country's second-largest bank reported net interest income that beat expectations, while rivals JPMorgan and Wells Fargo missed estimates in the metric. Bank of America (BAC) on Tuesday posted better-than-expected first-quarter results, including net interest income, a key profitability metric that has d ...

Bank of America (BAC) came out with quarterly earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $0.94 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.79%. A quarter ago, it was expected that this nation's second-largest bank would post earnings of $0.69 per share when it actually produced earnings of $0.70, delivering a surprise of 1.45%.Over the last four quar ...

Supplemental Information First Quarter 2024 Current-period information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America Corporation (the Corporation) does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in the ...

CHARLOTTE, N.C., April 16, 2024 /PRNewswire/ -- Bank of America reported its first-quarter 2024 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America's Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings. Investor Conference Call information:Chief Executive Officer Brian Moynihan and Chief Financial Officer Alastair Borthwick will discuss the financial results in a conference call at 8:30 a.m. ET today. For ...

Bank of America Chairman and CEO Brian Thomas Moynihan testifies during a Wall Street oversight hearing by the Senate Banking, Housing, and Urban Affairs committee on Capitol Hill in Washington, DC, December 6, 2023.Bank of America is scheduled to report first-quarter earnings before the opening bell Tuesday.Here's what Wall Street expects:Earnings: 76 cents a share, according to LSEGRevenue: $25.46 billionProvision for credit losses: $1.4 billion, according to StreetAccountTrading: Fixed income of $3.24 bi ...

With oil set to move higher, these 3 stocks are set to outperform.Earlier this month, analysts at Bank of America (BofA) predicted that both Brent and West Texas Intermediate (WTI) crude oil prices could hit $95 a barrel this summer. While that likely wouldn't be good for your wallet due to higher prices at the pump, it could be good for your investment portfolio.Overall, the investment bank raised its full-year average price prediction for Brent to $86 a barrel from a prior forecast of $80 a barrel. Meanwh ...

Investors are always looking for stocks that are poised to beat at earnings season and Bank of America Corporation (BAC) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Bank of America is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is ...

We are in the initial stages of the first-quarter 2024 earnings season. The earnings results and management guidance will be crucial for market participants to gauge the health of the U.S. economy.As of Apr 12, 30 companies on the S&P 500 Index have reported their financial numbers. Total earnings for these 30 index members are up 21% from the same period last year on 5.8% higher revenues, with 80% beating EPS estimates and 56.7% beating revenue estimates.At present, total earnings of the S&P 500 Index in f ...