Bank of America Corp. reported a strong Q2 with net income of $7.1 billion and EPS of 89 cents, beating expectations. Revenue slightly missed estimates at $26.5 billion, but growth was seen in net interest income, trading activity, and asset management fees. Analysts maintained positive ratings, with price targets of $56 and $57.

Goldman Sachs and Keefe, Bruyette & Woods analysts affirmed positive ratings on Bank of America, raising earnings estimates for 2025-2027. BAC reported EPS of 89 cents, in line with consensus, and strong loan growth at 7% Y/Y. Expenses were slightly higher than expected, but fee revenue offset these increases. Capital returns totaled $5.3 billion in Q2.

Bank of America reported core PPNR slightly below estimates, with better credit and tax results. Investment banking fees were down 7% Y/Y but beat mid-quarter guidance, while trading revenues increased 15% Y/Y. Provisions were slightly above estimates, with loan and deposit growth at 3% and 1% Q/Q, respectively. Buybacks exceeded expectations at $5.3 billion.

BAC stock is trading higher by 1.36% to $46.66 following the earnings report. Analysts remain positive on the stock, with price targets of $56 and $57. Bank of America’s strong Q2 performance, despite some misses, has garnered optimism from Wall Street analysts for its future growth potential.

Read more at Yahoo Finance: Is The Market Missing Bank Of America’s Strong Earnings Growth?