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Compared to Estimates, Bank of America (BAC) Q3 Earnings: A Look at Key Metrics
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Bank of America (BAC - Free Report) reported $25.35 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 0.7%. EPS of $0.81 for the same period compares to $0.90 a year ago.
The reported revenue represents a surprise of +0.22% over the Zacks Consensus Estimate of $25.29 billion. With the consensus EPS estimate being $0.78, the EPS surprise was +3.85%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Bank of America performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio (FTE basis): 64.6% versus 61.9% estimated by seven analysts on average.
Total earning assets - Average balance: $2,917.70 billion compared to the $2,882.90 billion average estimate based on seven analysts.
Net interest income/yield on earning assets - Yield/rate: 1.9% versus 2% estimated by seven analysts on average.
Book value per share of common stock: $35.37 versus the seven-analyst average estimate of $35.04.
Net charge-off / Average Loans: 0.6% versus 0.5% estimated by six analysts on average.
Total nonperforming loans, leases and foreclosed properties: $5.82 billion versus $6.14 billion estimated by five analysts on average.
Tier 1 Capital Ratio: 13.2% compared to the 13.6% average estimate based on four analysts.
Total Non-Performing Loans: $5.63 billion versus the four-analyst average estimate of $6.03 billion.
Tier 1 Leverage Ratio: 6.9% compared to the 7% average estimate based on three analysts.
Net Interest Income- Fully taxable-equivalent basis: $14.11 billion versus the six-analyst average estimate of $14.08 billion.
Total Noninterest Income: $11.38 billion versus the six-analyst average estimate of $11.31 billion.
Card income: $1.62 billion compared to the $1.57 billion average estimate based on five analysts.
Shares of Bank of America have returned +7.2% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Bank of America (BAC) Q3 Earnings: A Look at Key Metrics
Bank of America (BAC - Free Report) reported $25.35 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 0.7%. EPS of $0.81 for the same period compares to $0.90 a year ago.
The reported revenue represents a surprise of +0.22% over the Zacks Consensus Estimate of $25.29 billion. With the consensus EPS estimate being $0.78, the EPS surprise was +3.85%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Bank of America performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio (FTE basis): 64.6% versus 61.9% estimated by seven analysts on average.
- Total earning assets - Average balance: $2,917.70 billion compared to the $2,882.90 billion average estimate based on seven analysts.
- Net interest income/yield on earning assets - Yield/rate: 1.9% versus 2% estimated by seven analysts on average.
- Book value per share of common stock: $35.37 versus the seven-analyst average estimate of $35.04.
- Net charge-off / Average Loans: 0.6% versus 0.5% estimated by six analysts on average.
- Total nonperforming loans, leases and foreclosed properties: $5.82 billion versus $6.14 billion estimated by five analysts on average.
- Tier 1 Capital Ratio: 13.2% compared to the 13.6% average estimate based on four analysts.
- Total Non-Performing Loans: $5.63 billion versus the four-analyst average estimate of $6.03 billion.
- Tier 1 Leverage Ratio: 6.9% compared to the 7% average estimate based on three analysts.
- Net Interest Income- Fully taxable-equivalent basis: $14.11 billion versus the six-analyst average estimate of $14.08 billion.
- Total Noninterest Income: $11.38 billion versus the six-analyst average estimate of $11.31 billion.
- Card income: $1.62 billion compared to the $1.57 billion average estimate based on five analysts.
View all Key Company Metrics for Bank of America here>>>Shares of Bank of America have returned +7.2% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.