OPPORTUNITIES AFTER BANK OF AMERICA EARNINGS
By Nigam Arora & Dr. Natasha Arora
Signal(s) to enter, add, reduce, exit, hold or change.
Earnings
BAC reported earnings before the market open Tuesday. Here are the details:
- Earnings came at $0.94 vs. $0.81.
- Revenues came at $26.3B vs. $25.2B consensus.
- Net interest income jumped 25% to $14.4B.
- Deposits are 34% higher compared to pre-pandemic Q4 2019. This computes to $400B of excess deposits. The blended yield on these excess deposits is 2.9%.
- Customers continue to maintain large deposits in accounts yielding 0.1%.
Trade Around Position
Those with a Trade Around position may consider taking advantage of the strength and exiting the Trade Around position.… Please click here or the title below to read more.
April 19, 2023