Compared to Estimates, Bank of America (BAC) Q3 Earnings: A Look at Key Metrics

Bank of America (BAC) 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.Infrastructure Stock Boom to Sweep AmericaA massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.The only question is “Will you get into the right stocks early when their growth potential is greatest?”Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bank of America Corporation (BAC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks