Analysts on Wall Street project that Bank of America (BAC Quick QuoteBAC - Free Report) will announce quarterly earnings of $1.11 per share in its forthcoming report, representing an increase of 4.7% year over year. Revenues are projected to reach $30.62 billion, increasing 9% from the same quarter last year.

The current level reflects a downward revision of 0.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

Bearing this in mind, let's now explore the average estimates of specific Bank of America metrics that are commonly monitored and projected by Wall Street analysts.

The consensus estimate for 'Efficiency Ratio (FTE basis)' stands at 59.8%. Compared to the current estimate, the company reported 61.4% in the same quarter of the previous year.

The consensus among analysts is that 'Total earning assets - Average balance' will reach $3112.61 billion. The estimate is in contrast to the year-ago figure of $3040.19 billion.

Analysts predict that the 'Book value per share of common stock' will reach $39.68 . Compared to the present estimate, the company reported $37.95 in the same quarter last year.

The average prediction of analysts places 'Total nonperforming loans and leases' at $6.46 billion. Compared to the present estimate, the company reported $5.35 billion in the same quarter last year.

Analysts forecast 'Tier 1 Capital Ratio' to reach 12.4%. Compared to the present estimate, the company reported 13.1% in the same quarter last year.

Based on the collective assessment of analysts, 'Total nonperforming loans, leases and foreclosed properties' should arrive at $6.58 billion. Compared to the present estimate, the company reported $5.47 billion in the same quarter last year.

Analysts' assessment points toward 'Tier 1 Leverage Ratio' reaching 6.5%. Compared to the present estimate, the company reported 6.8% in the same quarter last year.

The collective assessment of analysts points to an estimated 'Net Interest Income- Fully taxable-equivalent basis' of $16.55 billion. Compared to the present estimate, the company reported $15.39 billion in the same quarter last year.

According to the collective judgment of analysts, 'Total Noninterest Income' should come in at $14.32 billion. The estimate is in contrast to the year-ago figure of $12.86 billion.

The combined assessment of analysts suggests that 'Investment and brokerage services' will likely reach $5.86 billion. The estimate is in contrast to the year-ago figure of $5.06 billion.

It is projected by analysts that the 'Investment banking fees' will reach $1.71 billion. The estimate compares to the year-ago value of $2.01 billion.

Analysts expect 'Total fees and commissions' to come in at $11.00 billion. The estimate is in contrast to the year-ago figure of $10.34 billion.

Bank of America shares have witnessed a change of -14.3% in the past month, in contrast to the Zacks S&P 500 composite's +1.3% move. With a Zacks Rank #3 (Hold), BAC is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .