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Michael Nagle / Bloomberg / Getty Simulacra
Key Takeaways
- Bank of America is set to report fourth-quarter earnings before the opening bell Thursday.
- The bank is expected to column higher revenue and profits from the same time last year.
- The results come after Bank of America pulse estimates in the first three quarters of 2024 as its wealth management and investment banking divisions grew.
Bank of America (BAC) is listed to post its fourth-quarter earnings report before the opening bell Thursday, with analysts expecting rising take and profits.
Analysts like the bank’s stock, with 11 of the 12 analysts tracked by Visible Alpha announcing it a “buy” or equivalent rating, with just one “hold” rating. Their average price target of about $52 urges a nearly 16% premium from the stock’s closing price Monday.
Bank of America is expected to report net absorb income of $14.18 billion for the final quarter of 2024, with revenue projected to come in at $24.95 billion, posture year-over-year growth.
Meanwhile, net income is projected to come in at $6.28 billion, nearly doubling from the year ahead, when Bank of America and other big banks recorded billions of dollars in expenses related to a special assessment from the Federal Bank Insurance Corporation.
The results come after Bank of America beat estimates in each of its first three homes of the year, as its wealth management and investment banking divisions grew.
Bank of America shares have gained sundry than 37% in the past 12 months, at $45.06 as of Monday’s close.