Bank Of America Shares Hit 52-Week High, Analysts Expect Big Jump In Earnings
7/16/2013 @ 12:02PM EDT
This August 19,2011 file photo shows a Bank of...Bank of America BAC -0.43% shares are experiencing a nice run a day before the bank reports second quarter earnings. Shares of the second largest bank hit a new 52-week high exceeding $14 this morning. That’s a level BofA shareholders haven’t seen since 2011. Analysts are expecting BofA to report net income of $2.9 billion, or $0.25 per share, on revenue of $22.8 billion tomorrow. That’s up 32% from last year when net income was $2.1 billion, or $0.19 a share, on revenue of $21.96 billion.
At least one analyst sees BofA exceeding those estimates. Barclays BCS -0.8% analyst Jason Goldberg expects BofA to report $0.27 per share reflecting higher trading revenue.