What's Going On With Bank Of America (BAC) Shares

Bank of America Corp BAC shares are trading higher by 3.41% to $29.54 Friday morning in sympathy with JPMorgan Chase & Co JPM and Wells Fargo & Co WFC following their first-quarter financial results.

What Happened With Bank Earnings?

JPMorgan Chase reported first-quarter net revenue of $39.3 billion, up 25% Y/Y, beating the consensus of $36.2 billion. Reported revenue was $38.35 billion, up 21.4% Y/Y.

Assets under management (AUM) stood at $3.0 trillion, up 2% Y/Y, on strong net inflows...Read More

Wells Fargo meanwhile reported first-quarter FY23 revenue growth of 17% year-over-year to $20.73 billion, beating the consensus of $20.07 billion.

The company posted an EPS of $1.23, compared with $0.91 a year ago and beating the consensus of $1.13...Read More

Big Banks Show Strength In Q1 Despite Sector Fears

The first-quarter was full of marked volatility for the banking sector, what with the biggest banking collapse since the 2008 financial crisis spearheaded by a bank run on SVB Financial Group.

As inflows turned to outflows, SVB sold longer-term treasuries at a loss and announced an offering, causing the stock to dive. Here's a simple explainer of what happened in March.

According to data from Benzinga Pro, BAC has a 52-week high of $40.37 and a 52-week low of $26.32.