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Bank of America Corporation (BAC-PK)

25.13

+0.03

(+0.12%)

At close: October 15 at 3:55 PM EDT

Citi's performance was 'a little sluggish': Analyst on earnings

Goldman Sachs (GS) was a notable standout among the Big Banks that reported third quarter earnings on Tuesday — which also included Bank of America (BAC) and Citigroup (C). Goldman Sachs saw investment banking fees rise 20%, or $1.8 billion, from this time last year To speak more on bank earnings, Market Domination welcomes CFRA Director of Equity Research Ken Leon. As financial institutions adjust to the new interest rate environment, Leon forecasts M&A underwriting transactions. He found Citi's earnings performance to be "a little sluggish." CFRA has Citi at a Buy rating with a $73 per share price target. "The intermediate of course, is a streamlined bank, one that's watching expenses. It's rid itself of consumer banks outside the US, and it has still a pretty significant institutional treasury service business," Leon tells Julie Hyman and Josh Lipton. "It wasn't good enough today, and I think part of this was the messaging from senior management that still talks about a multiyear transformation." Leon also weighs in on Bank of America's net interest income and looks ahead to what to expect from Morgan Stanley (MS) when it reports earnings Wednesday morning. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Luke Carberry Mogan.

Yahoo Finance Video 12 hours ago

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'Soft landing' optimism spurs broad Wall Street rebound at big banks

The biggest banks staged a broad Wall Street rebound in the third quarter, as optimism about a possible 'soft landing' and rate cuts from the Fed spurred dealmaking and trading.

Yahoo Finance 21 hours ago

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GS

BAC
Bank of America Corp (BAC) Q3 2024 Earnings Call Highlights: Strong Net Income and Digital ...

Bank of America Corp (BAC) reports robust financial performance with $6.9 billion net income, while navigating increased expenses and modest loan demand.

GuruFocus.com 1 hour ago

BAC
Goldman Sachs, Bank of America In Buy Zones After Earnings; Citigroup Retreats From Buy Point

Goldman Sachs earnings easily beat, while Bank of America and Citigroup earnings also topped. Goldman and BofA are set to extend breakouts while Citi nears a buy point.

Investor's Business Daily 12 hours ago

GS

C

BAC
Bank of America Bond Losses Narrowed to $85.7 Billion. They Still Lead the Industry.

Concern about the unrealized losses has receded. The bank has emphasized that the portfolio is rolling off its books as mortgage securities are paid off.

Barrons.com 13 hours ago

BAC
Jim Cramer Says Bank of America Corporation (BAC) ‘Caught a Big Break’ Because It Was Up 5%

We recently compiled a list of the Jim Cramer is Talking About These 14 Stocks Before Earnings. In this article, we are going to take a look at where Bank of America Corporation (NYSE:BAC) stands against the other stocks Jim Cramer is talking about before earnings. As earnings season kicks off, Jim Cramer of Mad Money […]

Insider Monkey 13 hours ago

BAC
Bank Earnings: A Rundown of Today's Results

Meanwhile at Goldman Sachs, quarterly profit jumped 45%, signaling that the bank’s work refocusing on Wall Street is paying off. It wasn't just Goldman—the Journal's Wall Street Editor David Benoit shows in one chart how dealmaking is back. At Bank of America, net interest income started to rise again, while profit in the bank's sales and trading arm jumped.

The Wall Street Journal 14 hours ago

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BAC
Three Big Takeaways From Bank Earnings

The country’s biggest banks said American consumers appeared to be on steadier financial footing in the third quarter, with executives suggesting the economy has either reached or neared a soft landing. JPMorgan Chase Bank of America Citigroup and Wells Fargo said consumers continued to spend and borrow at a healthy clip, helped by a resilient job market and wage growth that has outpaced inflation. The banks appeared more confident than in previous quarters that the trend would hold up against still-elevated interest rates and several years of price increases.

The Wall Street Journal 14 hours ago

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BAC

WFC
Merrill Lynch Client Assets Spike 18% to $3.5 Trillion

Bank of America’s wealth business saw especially strong growth in its fiduciary financial advice channel.

Barrons.com 14 hours ago

BAC
Bank of America (BAC) Q3 2024 Earnings Call Transcript

BAC earnings call for the period ending September 30, 2024.

Motley Fool 14 hours ago

BAC
Wall Street Posts a Strong Quarter, Powering Goldman Sachs Profit

The bank reported growth in investment banking and asset and wealth management. Bank of America and Citigroup also showed robust dealmaking gains.

The Wall Street Journal 16 hours ago

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GS

BAC
Top Midday Stories: UnitedHealth Narrows Full-Year Earnings Outlook; Nvidia, AMD May Face Country-Specific Export Caps on AI Chips

Top Midday Stories: UnitedHealth Narrows Full-Year Earnings Outlook; Nvidia, AMD May Face Country-Specific Export Caps on AI Chips

PREMIUM
MT Newswires 16 hours ago

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BAC
Dealmaking Is Back on Wall Street

Four of the biggest Wall Street investment banks have now posted big gains in investment-banking fees for the third quarter. And for the full-year the trend is clear: Dealmaking is coming back from a dormancy.

The Wall Street Journal 18 hours ago

BAC

GS
Bank of America’s Profit Falls, But Results Top Wall Street Expectations

Bank of America’s profit fell in the third quarter, weighed down by its earnings from lending. The bank's results nevertheless topped Wall Street forecasts, and its shares rose about 1.5% in morning trading. Wall Street had forecast $25.25 billion.

The Wall Street Journal 19 hours ago

BAC
Compared to Estimates, Bank of America (BAC) Q3 Earnings: A Look at Key Metrics

While the top- and bottom-line numbers for Bank of America (BAC) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Zacks 19 hours ago

BAC
Bank of America's Net Interest Income Starts to Rise Again

Bank of America delivered an upswing in a key revenue measure, net interest income. The bank’s total net interest income rose to $13.97 billion last quarter, from $13.7 billion in the second quarter. This is a closely followed number for banks, as it represents how much interest income they earn on loans, bonds and other assets, minus the interest they pay out for deposits and other funding.

The Wall Street Journal 19 hours ago

BAC
Bank of America Stock Up on Q3 Earnings Beat, IB & Trading Fee Growth

Robust trading and IB performances drive BAC's Q3 earnings. Meanwhile, NII continues to decline and poor asset quality hurts.

Zacks 19 hours ago

BAC
Bank of America Q3 Earnings: Profit Drops 12% On Loan Loss Provisions, Investment Banking Fees Soar 18%

Bank of America Corp (NYSE:BAC) reported a third-quarter fiscal 2024 net income of $6.9 billion and EPS of $0.81, beating the analyst consensus estimate of $0.77. Net income fell 12% year-on-year due to higher provisions for loan losses and rising expenses. Revenue, net of interest expense, increased 1.0% year over year to $25.49 billion, beating the analyst consensus estimate of $25.29 billion. Also Read: JPMorgan Chase Q3 Earnings: Investment Banking Revenue Soars 29%, Largest Bank Raises Net

Benzinga 20 hours ago

BAC
Bank of America Reports Third Quarter 2024 Financial Results

Bank of America reported its third 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.

PR Newswire 20 hours ago

BAC
Bank of America (BAC) Q3 Earnings and Revenues Top Estimates

Bank of America (BAC) delivered earnings and revenue surprises of 3.85% and 0.22%, respectively, for the quarter ended September 2024. Do the numbers hold clues to what lies ahead for the stock?

Zacks 20 hours ago

BAC

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Performance Overview

Return	BAC-PK	S&P 500
YTD	+6.20%	+21.92%
1-Year	+18.62%	+34.37%
3-Year	+7.86%	+31.03%

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Bank of America Corporation (BAC-PK)

Citi's performance was 'a little sluggish': Analyst on earnings

'Soft landing' optimism spurs broad Wall Street rebound at big banks

Bank of America Corp (BAC) Q3 2024 Earnings Call Highlights: Strong Net Income and Digital ...

Goldman Sachs, Bank of America In Buy Zones After Earnings; Citigroup Retreats From Buy Point

Bank of America Bond Losses Narrowed to $85.7 Billion. They Still Lead the Industry.

Jim Cramer Says Bank of America Corporation (BAC) ‘Caught a Big Break’ Because It Was Up 5%

Bank Earnings: A Rundown of Today's Results

Three Big Takeaways From Bank Earnings

Merrill Lynch Client Assets Spike 18% to $3.5 Trillion

Bank of America (BAC) Q3 2024 Earnings Call Transcript

Wall Street Posts a Strong Quarter, Powering Goldman Sachs Profit

Top Midday Stories: UnitedHealth Narrows Full-Year Earnings Outlook; Nvidia, AMD May Face Country-Specific Export Caps on AI Chips

Dealmaking Is Back on Wall Street

Bank of America’s Profit Falls, But Results Top Wall Street Expectations

Compared to Estimates, Bank of America (BAC) Q3 Earnings: A Look at Key Metrics

Bank of America's Net Interest Income Starts to Rise Again

Bank of America Stock Up on Q3 Earnings Beat, IB & Trading Fee Growth

Bank of America Q3 Earnings: Profit Drops 12% On Loan Loss Provisions, Investment Banking Fees Soar 18%

Bank of America Reports Third Quarter 2024 Financial Results

Bank of America (BAC) Q3 Earnings and Revenues Top Estimates

Performance Overview