Bank of America tops estimates on better-than-expected investment banking, interest income
Published On Jan 16, 2025, 6:15 AM
Bank of America reported strong fourth-quarter earnings, surpassing expectations for both profit and revenue. The bank's profit more than doubled to $6.67 billion, or 82 cents per share, against a backdrop of rising investment banking fees and net interest income. Notably, investment banking fees surged by 44%, contributing significantly to the revenue increase, which rose by 15% to $25.5 billion. Analysts are particularly focused on how interest rates will impact the firm as they look towards 2025.
Stock Forecasts
BAC
Positive
Bank of America's strong earnings performance driven by rising investment banking fees and interest income suggests resilience amidst rising rates. Given current economic conditions and the bank's past performance, BAC is likely to see continued interest and investment growth going into the next quarter, positively impacting its stock price.
Related News
Biggest US banks ready mortgage relief for victims of Los Angeles wildfires
Jan 13, 2025, 2:11 PM
Chase Home Lending is providing disaster forbearance for mortgage customers affected by the wildfires, parent firm JPMorgan said on Monday. BofA also said its program includes the possibility of mortgage forbearance tailored to customer needs.
The optimism over US banks is about to be put to the test
Jan 13, 2025, 4:00 AM
Investors ended 2024 brimming with optimism about US banks. What happens during the start of earnings season this week will put that optimism to a new test in 2025.
The year that Wall Street got its swagger back
Dec 22, 2024, 9:00 AM
Big bank bosses have a lot to cheer about as 2024 comes to an end. Dealmaking is surging, and an era of looser regulations looms with a new administration about to take over the White House.