Wall Street analysts forecast that Bank of America (BAC Quick QuoteBAC - Free Report) will report quarterly earnings of $1.13 per share in its upcoming release, pointing to a year-over-year increase of 27%. It is anticipated that revenues will amount to $30.62 billion, exhibiting an increase of 15.7% compared to the year-ago quarter.

Over the last 30 days, there has been an upward revision of 1.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

That said, let's delve into the average estimates of some Bank of America metrics that Wall Street analysts commonly model and monitor.

According to the collective judgment of analysts, 'Efficiency Ratio (FTE basis)' should come in at 59.8%. The estimate compares to the year-ago value of 64.6%.

Analysts forecast 'Total earning assets - Average balance' to reach $3121.38 billion. The estimate compares to the year-ago value of $3050.21 billion.

The combined assessment of analysts suggests that 'Book value per share of common stock' will likely reach $39.22 . Compared to the present estimate, the company reported $37.13 in the same quarter last year.

The collective assessment of analysts points to an estimated 'Total nonperforming loans and leases' of $6.68 billion. Compared to the current estimate, the company reported $5.98 billion in the same quarter of the previous year.

It is projected by analysts that the 'Tier 1 Capital Ratio' will reach 12.5%. Compared to the present estimate, the company reported 12.8% in the same quarter last year.

The consensus among analysts is that 'Total nonperforming loans, leases and foreclosed properties' will reach $6.78 billion. Compared to the present estimate, the company reported $6.10 billion in the same quarter last year.

Based on the collective assessment of analysts, 'Tier 1 Leverage Ratio' should arrive at 6.5%. Compared to the present estimate, the company reported 6.7% in the same quarter last year.

The consensus estimate for 'Net Interest Income- Fully taxable-equivalent basis' stands at $16.24 billion. Compared to the present estimate, the company reported $14.82 billion in the same quarter last year.

Analysts' assessment points toward 'Total Noninterest Income' reaching $14.76 billion. Compared to the present estimate, the company reported $11.79 billion in the same quarter last year.

Analysts expect 'Investment and brokerage services' to come in at $5.47 billion. The estimate compares to the year-ago value of $4.78 billion.

The average prediction of analysts places 'Investment banking fees' at $1.96 billion. Compared to the current estimate, the company reported $1.43 billion in the same quarter of the previous year.

Analysts predict that the 'Total fees and commissions' will reach $10.73 billion. Compared to the current estimate, the company reported $9.47 billion in the same quarter of the previous year.

Over the past month, Bank of America shares have recorded returns of +6.9% versus the Zacks S&P 500 composite's +1.1% change. Based on its Zacks Rank #3 (Hold), BAC will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .