Bank of America Rides on Rate Cuts & Expansion Amid Weak IB Fees [Yahoo! Finance]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Yahoo! Finance
Also, the opening of new financial centers and improving digital capabilities drive its top line. However, investment banking (IB) fee income growth challenges and muted trading revenues are major near-term concerns. Rate Cuts to Aid Net Interest Income: BofA's net interest income (NII) and net interest yield are expected to witness improvement going forward on the back of rate cuts implemented by the Federal Reserve. Currently, both are under pressure, given the drastic increase in funding costs. The bank accumulated billions of dollars-worth long-dated Treasuries and mortgage bonds at low rates during the pandemic. Given the Fed's aggressive stance on raising interest rates since early 2022, the company has registered significant paper losses, thus hampering NII growth. NII and net interest yield recorded a year-over-year decline during the first nine months of 2024. Nevertheless, NII recorded a five-year (ended 2023) compound annual growth rate (CAGR) of 3.4%. Likewise, net i
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- Why Is Bank of America (BAC) Up 7.2% Since Last Earnings Report? [Yahoo! Finance]Yahoo! Finance
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BAC
Earnings
- 10/15/24 - Beat
BAC
Sec Filings
- 11/14/24 - Form FWP
- 11/14/24 - Form SC
- 11/14/24 - Form 13F-HR
- BAC's page on the SEC website