RBC Capital analyst Gerard Cassidy maintains $Bank of America (BAC.US)$ with a buy rating, and maintains the target price at $46.
According to TipRanks data, the analyst has a success rate of 63.4% and a total average return of 17.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Bank of America (BAC.US)$'s main analysts recently are as follows:
Bank of America's earnings per share exceeded expectations by 7%, bolstered by a resurgence in capital markets. The bank also surpassed revenue projections in several areas including investment banking fees, fixed income, currency and commodities markets, equities markets, and wealth management fees. Projections for 2025 earnings per share have been increased by 2% to $3.98, reflecting anticipated gains in fee income from trading and wealth management, as well as an increase in net interest income attributed to deposit growth.
Bank of America's Q3 earnings surpassed estimates, bolstered by a stronger net interest income and fee income that exceeded forecasts. Operational costs and the provision for credit losses aligned with expectations set during the quarter. Additionally, a tax rate that was more favorable than anticipated contributed positively, alongside the continuation of share buybacks at a steady rate comparable to Q2.
The company's earnings report, which displayed positive signs for 2025 net interest growth, 'relentless organic growth wins,' a stronger position to benefit from an increased markets fee pool, and controlled expense growth, was viewed favorably. However, it was suggested that the positive developments might have already been reflected in the stock's 15% increase since early August.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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