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Bank of America (BAC) Reports Q1 Earnings: What Key Metrics Have to Say
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Bank of America (BAC - Free Report) reported $25.82 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 1.7%. EPS of $0.83 for the same period compares to $0.94 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $25.28 billion, representing a surprise of +2.14%. The company delivered an EPS surprise of +7.79%, with the consensus EPS estimate being $0.77.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Bank of America performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio (FTE basis): 66.4% compared to the 64.8% average estimate based on seven analysts.
Net interest income/yield on earning assets - Yield/rate: 2% compared to the 2% average estimate based on seven analysts.
Total earning assets - Average balance: $2,860.58 billion versus the seven-analyst average estimate of $2,836.49 billion.
Net charge-off / Average Loans: 0.6% compared to the 0.5% average estimate based on six analysts.
Total nonperforming loans, leases and foreclosed properties: $6.03 billion compared to the $5.97 billion average estimate based on five analysts.
Tier 1 Capital Ratio: 13.6% versus 13.6% estimated by four analysts on average.
Total Non-Performing Loans: $5.88 billion versus the four-analyst average estimate of $5.94 billion.
Tier 1 Leverage Ratio: 7.1% versus 7.1% estimated by three analysts on average.
Total Noninterest Income: $11.79 billion versus the seven-analyst average estimate of $11.44 billion.
Net Interest Income- Fully taxable-equivalent basis: $14.19 billion compared to the $13.98 billion average estimate based on seven analysts.
Investment and brokerage services: $4.19 billion versus $4.04 billion estimated by six analysts on average.
Investment banking fees: $1.57 billion versus the six-analyst average estimate of $1.37 billion.
Shares of Bank of America have returned -0.2% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Bank of America (BAC) Reports Q1 Earnings: What Key Metrics Have to Say
Bank of America (BAC - Free Report) reported $25.82 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 1.7%. EPS of $0.83 for the same period compares to $0.94 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $25.28 billion, representing a surprise of +2.14%. The company delivered an EPS surprise of +7.79%, with the consensus EPS estimate being $0.77.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Bank of America performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio (FTE basis): 66.4% compared to the 64.8% average estimate based on seven analysts.
- Net interest income/yield on earning assets - Yield/rate: 2% compared to the 2% average estimate based on seven analysts.
- Total earning assets - Average balance: $2,860.58 billion versus the seven-analyst average estimate of $2,836.49 billion.
- Net charge-off / Average Loans: 0.6% compared to the 0.5% average estimate based on six analysts.
- Total nonperforming loans, leases and foreclosed properties: $6.03 billion compared to the $5.97 billion average estimate based on five analysts.
- Tier 1 Capital Ratio: 13.6% versus 13.6% estimated by four analysts on average.
- Total Non-Performing Loans: $5.88 billion versus the four-analyst average estimate of $5.94 billion.
- Tier 1 Leverage Ratio: 7.1% versus 7.1% estimated by three analysts on average.
- Total Noninterest Income: $11.79 billion versus the seven-analyst average estimate of $11.44 billion.
- Net Interest Income- Fully taxable-equivalent basis: $14.19 billion compared to the $13.98 billion average estimate based on seven analysts.
- Investment and brokerage services: $4.19 billion versus $4.04 billion estimated by six analysts on average.
- Investment banking fees: $1.57 billion versus the six-analyst average estimate of $1.37 billion.
View all Key Company Metrics for Bank of America here>>>Shares of Bank of America have returned -0.2% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.