Bank America Reports Wednesday Expectations: Bank of America Corp (NYSE: BAC) will release its third quarter financial results before the markets open on Wednesday. Consensus estimates require $ 0.51 in earnings per share (EPS) and $ 22.79 billion in revenue. According to reports, the same period last year had $ 0.66 in EPS and $ 22.93 billion in revenue.
Bank of America is a slow and steady producer at this stage, now ranked among the top four banks by assets in the United States. It has Warren Buffett in its corner, as its largest individual shareholder is Berkshire Hathaway, with a large investment in the company.
The bank is increasing its dividends again, and its bank deposit, loan, credit card and mortgage business is expanding, along with asset management and investment operations for Merrill Lynch. Its main earnings are still healthy.
Bank America Reports Wednesday Expectations
However, banks are facing lower net interest margins now as interest rates have dropped and given the yield curve so flat. Bank of America also has massive deposits and Merrill Lynch's investment advisory unit that could focus on if politicians fulfill their threats to break big banks. The Federal Reserve has also allowed bank dividends to rise enough for some investors to want them to keep a little dust dry so they don't have the risk of having to reduce their dividends if the economy continues to decline.
Excluding Tuesday's move, Bank of America had more or less in line with the general markets, increasing its shares by about 18.3% so far this year. In the last 52 weeks, the stock increased only 2.8%.
Biological Product Manufacturing Market 2019 Industry Key Players, Trends, Sales, Supply, Demand, Analysis and Forecast by 2025
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