Bank of America (BAC) earnings Q3 2021

Financial institution Of America CEO Brian Moynihan is interviewed by Jack Otter throughout “Barron’s Roundtable” at Fox Enterprise Community Studios on January 09, 2020 in New York Metropolis.

John Lamparski | Getty Photographs

Bank of America is scheduled to report third-quarter earnings earlier than the opening bell Thursday.

This is what Wall Avenue expects:

  • Earnings: 71 cents a share, 39% increased than a 12 months earlier, in response to Refinitiv.
  • Income: $21.8 billion, 6.5% increased than a 12 months earlier.
  • Internet Curiosity Earnings: $10.6 billion on a reported foundation, in response to StreetAccount
  • Buying and selling Income: Mounted Earnings $1.93 billion, Equities $1.45 billion
  • Funding Banking Income: $2 billion

Has mortgage demand at Financial institution of America turned the nook?

That is what analysts are questioning in regards to the second-biggest U.S. lender by property. Buyers need to see mortgage development enhance from a weak first half of the 12 months as a result of that can assist the financial institution produce extra curiosity revenue.

Like different lenders, Financial institution of America put aside billions of {dollars} for credit score losses final 12 months, when the business anticipated a wave of defaults tied to the coronavirus pandemic. Banks have been releasing a few of these funds when the losses did not arrive, and analysts will probably be curious how a lot of a lift that dynamic could have within the second half of the 12 months.

They will even doubtless ask CEO Brian Moynihan about succession planning after his most senior deputy, chief working officer Tom Montag, announced his departure. Final month, Moynihan introduced a sweeping administration overhaul, together with a brand new finance chief, know-how head, normal counsel and chief administrative officer.

Shares of Financial institution of America have climbed 42% this 12 months, exceeding the 36% achieve of the KBW Financial institution Index.

On Wednesday, greater rival JPMorgan Chase posted outcomes that beat expectations, pushed by a $1.5 billion enhance from better-than-expected mortgage losses.

This story is growing. Please examine again for updates.

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