Brian Moynihan, Bank of America, talking at the WEF at Davos, January 21, 2020
Bank of America is scheduled to report fourth-quarter earnings earlier than the opening bell on Tuesday.
Here’s what Wall Street expects:
Earnings: 55 cents a share, 26% decrease than the year-earlier interval, in accordance to Refinitiv.
Revenue: $20.7 billion, 8.1% decrease than a yr earlier.
Net Interest Margin: 1.74%
Trading Revenue: Fixed Income $2.11 billion, Equities $1.22 billion
Will Bank of America be part of rivals by posting outcomes that profit from an enhancing credit score image?
That’s what analysts and buyers are questioning after JPMorgan Chase and Citigroup every posted revenue that beat analysts’ expectations as the corporations launched a mixed $4.Four billion in loan-loss reserves.
Bank of America, the second-biggest U.S. lender by belongings, had booked $11.Three billion price of credit score loss provisions in the first three quarters of 2020.
Like JPMorgan, which posted file fourth-quarter outcomes in its funding financial institution, Bank of America may additionally see a lift from its buying and selling operations.
Early Tuesday, Bank of America stated that it deliberate to repurchase $2.9 billion in shares in the first quarter, plus about $300 million in shares to offset inventory given to workers. It additionally stated it might preserve its 18 cent quarterly dividend.
Shares of Bank of America dropped 15% in 2020, in contrast with the 4.3% decline of the KBW Bank Index.
This story is creating. Please verify again for updates.