Financial institution of America (BAC) earnings Q3 2021

Brian Moynihan, CEO of Bank of America, will be interviewed by Jack Otter during Barron’s Roundtable at Fox Business Network Studios on January 9, 2020 in New York City.

John Lamparski | Getty Images

Bank of America is expected to announce third quarter results before the opening bell on Thursday.

What Wall Street Expects:

  • Result: 71 cents per share, 39% more than in the previous year, according to Refinitiv.
  • Revenue: $ 21.8 billion, up 6.5% from last year.
  • Net Interest Income: $ 10.6 billion on a reported basis, according to StreetAccount
  • Trading Revenue: Fixed Income $ 1.93 Billion, Stocks $ 1.45 Billion
  • Investment banking revenue: $ 2 billion

Has Bank of America credit demand turned the corner?

This is what analysts ask at the second largest US lender for assets. Investors want credit growth to improve after a weak first half as this will help the bank generate more interest income.

Like other lenders, Bank of America provided billions of dollars in loan losses last year as the industry anticipated a wave of defaults related to the coronavirus pandemic. Banks released some of that money when the losses didn’t hit, and analysts will be excited to see how much momentum this dynamic will have in the second half of the year.

You are also likely to question CEO Brian Moynihan on succession planning after his senior deputy chief operating officer Tom Montag announced his resignation. Last month, Moynihan announced a major management overhaul, including a new chief financial officer, chief technology officer, general counsel and chief administrative officer.

Bank of America stocks are up 42% this year, outperforming 36% on the KBW Bank Index.

On Wednesday, bigger rival JPMorgan Chase released results that exceeded expectations, fueled by a $ 1.5 billion surge due to better-than-expected credit losses.

This story evolves. Please check again for updates.

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