What's Going On With Bank Of America Shares

Bank of America Corp BAC shares are trading higher by 1.47% to $31.15 Wednesday morning. Shares are rising on continued strength after the company on Tuesday reported better-than-expected second-quarter results. The company also received a number of analyst rating updates Wednesday.

What Happened With Earnings?

Bank of America on Tuesday announced a notable year-over-year net income growth of 19% for the second quarter of FY23, reaching $7.4 billion. During the same period, EPS amounted to 88 cents, surpassing the previous year's figure of 73 cents and exceeding the consensus estimate of 84 cents.

Furthermore, Bank of America's revenue exhibited an 11% year-on-year increase, reaching $25.33 billion, surpassing the analyst consensus estimate of $25.05 billion...Read More

According to data from Benzinga Pro, BAC has a 52-week high of $38.60 and a 52-week low of $26.32.