Bank of America Earnings: An Excellent Quarter With Few Weak Spots
Most of the banks that have reported earnings so far have delivered better-than-expected earnings, and Bank of America (NYSE: BAC) was no exception. In addition to strong top- and bottom-line numbers, though, the bank delivered a strong all-around quarter without giving investors much to complain about. Here's a rundown of the numbers and why Bank of America still looks like an attractive investment at the current share price.
Bank of America beat estimates on both the top and bottom lines. The bank earned $0.46 per share for the second quarter, which is $0.03 more than analysts had been calling for. Perhaps more impressively, revenue came in more than a billion dollars ahead of expectations, at $22.83 billion versus estimates of $21.78 billion.
Image source: Bank of America.
Source: Fool.com
Bank of America Corp. Stock
The stock is one of the favorites of our community with 22 Buy predictions and 4 Sell predictions.
As a result the target price of 42 € shows a slightly positive potential of 14.6% compared to the current price of 36.65 € for Bank of America Corp..
