Bank of America Likely To Report Lower Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Author: Avi Kapoor | July 15, 2024 10:38am

Bank of America Corporation (NYSE:BAC) is scheduled to release its second-quarter financial results, before the opening bell on Tuesday, July 16.

Analysts expect the Charlotte, North Carolina-based company to report quarterly earnings at 80 cents per share, down from 88 cents per share in the year-ago period. Bank of America is expected to post revenue of $25.22 billion, according to data from Benzinga Pro.

Bank of America reported better-than-expected earnings for its first quarter on April 16.

Bank of America shares fell 0.5% to close at $41.59 on Friday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Piper Sandler analyst Scott Siefers upgraded the stock from Underweight to Neutral and raised the price target from $37 to $42 on July 9. This analyst has an accuracy rate of 72%.
• Keefe, Bruyette & Woods analyst David Konrad upgraded the stock from Market Perform to Outperform and boosted the price target from $37 to $46 on June 14. This analyst has an accuracy rate of 74%.
• Oppenheimer analyst Chris Kotowski maintained an Outperform rating and increased the price target from $45 to $46 on April 30. This analyst has an accuracy rate of 84%.
• BMO Capital analyst James Fotheringham maintained a Market Perform rating and raised the price target from $36 to $37 on April 18. This analyst has an accuracy rate of 74%.
• Erste Group analyst Hans Engel upgraded the stock from Hold to Buy on April 3. This analyst has an accuracy rate of 73%.

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Posted In: BAC