Bank of America (BAC), the second-largest U.S. bank by assets, will report third-quarter results on Wednesday, October 14, before the market opens, followed by a conference call led by CEO Brian Moynihan. Management has said investment banking fees could be down 10% year over year and trading revenue may be flat, so net interest income (NII) is expected to be the key focus. The CFO previously guided full-year NII growth toward the upper end of 6% to 8%, but rising bond yields could increase funding costs and weigh on loan growth and credit quality. The author notes that maintaining or raising the NII guidance could support the stock, while any significant deterioration in credit quality could push it lower. Over the long term, the author still views the bank's scale as a strength and sees a more attractive valuation after the recent sell-off.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Get briefings and signals on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the morning, midday and evening briefing of each market and important news as it happens.