What Analysts Consider Financial institution of America Inventory Forward of Earnings

Financial institution of America (BAC) is scheduled to put up its fourth-quarter earnings report earlier than the opening bell Thursday, with analysts anticipating rising income and earnings.

Analysts just like the financial institution’s inventory, with 11 of the 12 analysts tracked by Seen Alpha giving it a “purchase” or equal score, with only one “maintain” score. Their common worth goal of about $52 suggests an almost 16% premium from the inventory’s closing worth Monday.

Financial institution of America is anticipated to report internet curiosity earnings of $14.18 billion for the ultimate quarter of 2024, with income projected to return in at $24.95 billion, displaying year-over-year progress.

In the meantime, internet earnings is projected to return in at $6.28 billion, practically doubling from the yr earlier than, when Financial institution of America and different massive banks recorded billions of {dollars} in bills associated to a particular evaluation from the Federal Deposit Insurance coverage Company.

The outcomes come after Financial institution of America beat estimates in every of its first three quarters of the yr, as its wealth administration and funding banking divisions grew.

Financial institution of America shares have gained greater than 37% prior to now 12 months, at $45.06 as of Monday’s shut.