Bank of America Corp reports results for the quarter ended June 30 - Earnings Summary

• Bank of America Corp BAC reported quarterly adjusted earnings of 89 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 83 cents. The mean expectation of nineteen analysts for the quarter was for earnings of 86 cents per share. Wall Street expected results to range from 80 cents to 91 cents per share.

• Revenue rose 4.2% to $26.61 billion from a year ago; analysts expected $26.72 billion.

• Bank of America Corp's reported EPS for the quarter was 89 cents​.

• The company reported quarterly net income of $6.83 billion.

• Bank of America Corp shares had fallen by 2.5% this quarter and gained 5.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 4.5% in the last three months.​

• In the last 30 days, fifteen analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy," 5 "hold" and no "sell" or "strong sell." The average consensus recommendation for the banks peer group is also "buy"

• Wall Street's median 12-month price target for Bank of America Corp is $53.00, about 12.9% above its last closing price of $46.15

This summary was machine generated from LSEG data July 16 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)