Bank of America Corp

BAC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$24.20	Hdq	Zjmsdzvr

Bank of America Earnings: Encouraging NII Guidance and Expense Control Should Boost Profitability

Suryansh Sharma

Jul 16, 2024

Wide-moat-rated Bank of America reported a good set of second-quarter numbers. Earnings per share came in at $0.83, slightly lower than the $0.88 in the year-ago quarter. For us, the biggest highlight was the company's encouraging net interest income outlook for the remaining half of the year. Management expects NII to increase from $13.9 billion in the current quarter to around $14.5 billion by the fourth quarter. The shares have rallied around 5% since the announcement of the results July 16.

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