Bank of America CEO Brian Moynihan will leave the U.S. Capitol on Thursday, February 13, 2025 after meeting with Republicans from the Senate Bank, Housing and Urban Affairs Committee on the issue of de-emergence.
Tom Williams | CQ-Roll Call, Inc. |Getty Images
Bank of America is expected to report second quarter revenues ahead of Wednesday’s opening bell.
Here’s what Wall Street is hoping for:
According to LSEGREVENUE, 86 cents per share: $267.2 billion according to LSEGNET interest: $148.9 billion according to StreetAccountRading: $3.14 billion according to StreetAccount, $2.14 billion, with stocks of $2.14 billion
Bank of America may have benefited from two tailwinds during the quarter.
Analysts predict net interest income, which is the difference between the amount that a bank pays to its depositors and what it earns through loans and investments.
According to Truist analyst John McDonald, it is a point of inflection of sorts, and the NII could rise later this year.
In addition, analysts expect trading revenue to rise “mid-to-high digits” to reach around $5 billion for the quarter, McDonald said.
Meanwhile, the company led a quarterly decline in investment bank fees by around 23%, but rival bank JPMorgan Chase has recovered to activity, a good forewarned by Bank of America.
Bank shares rose about 5% this year.
On Tuesday, JPMorgan, Citigroup and Wells Fargo each posted results that have broken analysts’ revenue and revenue expectations.
This story is developing. Please check for updates.
