Brian Moynihan, CEO of Financial institution of America, leaves the U.S. Capitol after a gathering with Republican members of the Senate Banking, Housing and City Affairs Committee on the problem of debanking on Thursday, February 13, 2025.
Tom Williams | Cq-roll Name, Inc. | Getty Pictures
Financial institution of America is scheduled to report second-quarter earnings earlier than the opening bell Wednesday.
Here is what Wall Road expects:
- Earnings: 86 cents per share, in keeping with LSEG
- Income: $26.72 billion, in keeping with LSEG
- Web Curiosity Revenue: $14.89 billion, in keeping with StreetAccount
- Buying and selling: Fastened revenue of $3.14 billion, equities of $2.14 billion, in keeping with StreetAccount
Financial institution of America is prone to have benefited from two tailwinds in the course of the quarter.
Analysts count on web curiosity revenue, which is the distinction in what banks pay depositors and what they earn on loans and investments, to have risen within the interval.
That may very well be an inflection level of kinds, with NII rising within the second half of this yr, in keeping with Truist analyst John McDonald.
On prime of that, analysts count on buying and selling revenues to climb within the “mid to excessive single digits” to about $5 billion within the quarter, McDonald stated.
In the meantime, the corporate gave steerage of a roughly 23% decline in funding banking charges within the quarter, however rival financial institution JPMorgan Chase noticed a rebound in exercise that bodes properly for Financial institution of America.
Shares of the financial institution have climbed roughly 5% this yr.
On Tuesday, JPMorgan, Citigroup and Wells Fargo every posted outcomes that topped analysts’ expectations for earnings and income.
This story is growing. Please verify again for updates.
