One of the biggest American lenders, Bank of America (BAC) , released its second-quarter 2024 results earlier this week. Since then, the stock has gained 2.7% to $43.01 and is trading near its two-year high of $44.44. Even before the release of its quarterly numbers, the stock performed exceedingly well. It was among the top five banks that outperformed the S&P 500 Index in the first half of 2024.This year, Bank of America has gained 28.5% compared with the S&P 500 Index’s growth of 16.2%. In 2023, the stoc ...

Now that the new earnings season has kicked off, the financial sector comes out swinging first, giving investors insights into what is happening underneath the hood of the economy, both the corporate and the commercial economy. This week, commercial banks like Bank of America Co. NYSE: BAC and J.P. Morgan Chase & Co. NYSE: JPM reported a not-so-shiny future in the consumer sector.American Express TodayAXPAmerican Express$239.04 -10.16 (-4.08%) 52-Week Range$140.91▼$253.73Dividend Yield1.17%P/E Ratio19.69Pri ...

While the stock isn't in the bargain bin, a return to net interest income growth should help it add onto its recent gains.Shares of Bank of America (BAC -2.21%) jumped Tuesday after the bank reported mixed second-quarter results, but indicated that it expects its net interest income to start growing again soon. Net interest income is the difference between the interest a bank earns from its loans and the interest it pays out on its deposits, and is an important metric for banks.Mixed resultsWhen Bank of Ame ...

Bank of America Times Square video display CribbVisuals Bank of America (NYSE:BAC) released its earnings on Tuesday. When I checked the stock after the release came out, I was pleasantly surprised to see that it gained 5.5% in early trading. It ended up holding the gains for the better part of the day. Although Bank of America’s release beat expectations on both revenue and earnings per share (“EPS”), the company delivered no growth in the quarter. The nature of these earnings was the reason why the post- ...

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 ...