Bank of America Likely To Report Lower Q4 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Bank of America Corporation BAC is expected to release earnings results for its fourth quarter before the opening bell on Jan. 12, 2024.

Analysts expect the bank to report quarterly earnings at 63 cents per share, down from 85 cents per share in the year-ago period. The company is projected to report revenue of $23.74 billion, compared to $24.66 billion in the year-earlier quarter, according to data from Benzinga Pro.

Bank of America, during October, reported better-than-expected earnings for its third quarter. Revenue increased 3% year-over-year to $25.32 billion, beating the consensus of $25.14 billion.

Bank of America shares fell 1.3% to close at $33.15 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Goldman Sachs analyst Richard Ramsden maintained a Buy rating and raised the price target from $30 to $33 on Dec. 1, 2023. This analyst has an accuracy rate of 64%.
• Oppenheimer analyst Chris Kotowski maintained an Outperform rating and increased the price target from $49 to $51 on Nov. 16, 2023. This analyst has an accuracy rate of 74%.
• Keefe, Bruyette & Woods analyst David Konrad upgraded the stock from Underperform to Market Perform and boosted the price target from $29 to $30 on Nov. 6, 2023. This analyst has an accuracy rate of 77%.
• BMO Capital analyst James Fotheringham maintained a Market Perform rating and raised the price target from $39 to $40 on Oct. 18, 2023. This analyst has an accuracy rate of 69%.
• Piper Sandler analyst Scott Siefers maintained an Underweight rating and cut the price target from $28 to $27.5 on Sept. 15, 2023. This analyst has an accuracy rate of 67%.

Read This Next: Top 3 Tech Stocks That May Fall Off A Cliff This Month