Analyst Consensus ?
ConsensusHold39 ratings
Bullish1948.7%
Neutral1846.2%
Bearish25.1%
Bank of America Corporation · BAC-PM · FY2026 Q1 · Calendar Q2 2026
Bank of America raises NII guidance as operating leverage improves
The quarter supports a constructive operating trajectory: broad-based revenue growth, stronger NII, improving efficiency, and benign credit quality were accompanied by higher full-year NII guidance. The main test is whether expense discipline, consumer growth, capital returns, and technology investment can sustain that trajectory.
Reported Session unavailableNYSEFinancial Services
$324.92B market cap
75quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.11
Consensus $1.01
EPS surprise
+9.9%
Reported versus consensus
Reported revenue
$30.27B
Consensus $29.95B
Revenue surprise
+1.1%
Reported versus consensus
Market reaction
unavailable
Stock move
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Event window
SPY move
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Same window
Abnormal move
—
Stock minus SPY
Volume
—
Versus trailing sessions
Subsequent drift
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Up to 20 sessions
Price and volume data were unavailable at publication time.
Ask FN2 about BAC-PM FY2026 Q1
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How did the market react to BAC-PM FY2026 Q1 earnings, and why?What changed in BAC-PM's guidance and outlook in FY2026 Q1?Give me the bull and bear case for BAC-PM after FY2026 Q1 earnings.
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Transcript intelligence
What changed
Management raised full-year NII growth guidance to 6%-8% and highlighted broad-based performance, improved operating leverage, stronger efficiency, benign credit quality, and continued technology and AI investment.
Guidance delta
Full-year NII growth guidance was raised to 6%-8%.
Key takeaways
- Management described strength across every business line, led by NII and fee-based revenue.
- Operating leverage improved markedly; ROTCE reached 16% and the efficiency ratio fell to 61%.
- Deposits exceeded $2 trillion, loans grew about 9%, and funding costs remained low.
- Credit quality stayed benign, including no new office-loan nonperforming-asset inflows in more than three years.
- Technology and AI investment remains paired with expense discipline and capital returns.
Management priorities
- Maintain disciplined dividends and share buybacks while supporting balance-sheet growth.
- Invest in relationship managers, technology platforms, Erica, AI, and digitization.
- Pursue 200-300 basis points of positive operating leverage for the year.
- Expand wealth-advisor headcount and improve adviser productivity.
- Monitor Basel III and G-SIB regulatory developments.
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Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Oppenheimer | Outperform | Outperform | Maintain | Oct 17, 2023 |
| BMO Capital | Market Perform | Market Perform | Maintain | Oct 17, 2023 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 2, 2023 |
| Piper Sandler | Underweight | Underweight | Maintain | Sep 14, 2023 |
| RBC Capital | Outperform | Outperform | Maintain | Sep 11, 2023 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 22, 2023 |
| Citigroup | Neutral | Neutral | Maintain | Jun 13, 2023 |
| Evercore ISI Group | Outperform | Outperform | Maintain | May 11, 2023 |
| Keefe, Bruyette & Woods | Underperform | Underperform | Maintain | Apr 18, 2023 |
| Barclays | Overweight | Overweight | Maintain | Apr 11, 2023 |
| JP Morgan | Overweight | Overweight | Maintain | Apr 9, 2023 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 2, 2023 |
| Odeon Capital | Hold | Buy | Downgrade | Mar 7, 2023 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Jan 30, 2023 |
| Deutsche Bank | Hold | Buy | Downgrade | Jan 5, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Jul 18, 2022 |
| Societe Generale | Buy | Hold | Upgrade | Jul 10, 2022 |
| Baird | Neutral | Underperform | Upgrade | Mar 7, 2022 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Oct 6, 2021 |
| DA Davidson | Neutral | Buy | Downgrade | Jul 8, 2020 |
| UBS | Neutral | Neutral | Maintain | May 3, 2020 |
| CFRA | Buy | Buy | Maintain | Apr 14, 2020 |
| Raymond James | Market Perform | Outperform | Downgrade | Aug 28, 2019 |
| Jefferies | Hold | Buy | Downgrade | Apr 16, 2019 |
| Nomura | Buy | Buy | Maintain | Oct 15, 2017 |
| Berenberg | Hold | Buy | Downgrade | Apr 23, 2017 |
| Macquarie | Outperform | Neutral | Upgrade | Feb 15, 2017 |
| Standpoint Research | Hold | Buy | Downgrade | Nov 30, 2016 |
| Guggenheim | Neutral | Buy | Downgrade | Nov 14, 2016 |
| CLSA | Outperform | Outperform | Maintain | Sep 22, 2016 |
| Bernstein | Outperform | Neutral | Upgrade | Aug 24, 2015 |
| Portales Partners | Sector Perform | Outperform | Downgrade | May 27, 2015 |
| FBR Capital | Outperform | Market Perform | Upgrade | Oct 15, 2014 |
| SunTrust Robinson Humphrey | Neutral | Neutral | Maintain | Apr 24, 2014 |
| Scotiabank | Sector Outperform | Sector Perform | Upgrade | Mar 14, 2013 |
| Edward Jones | Buy | Hold | Upgrade | Mar 7, 2013 |
| ISI Group | Buy | Buy | Maintain | Jan 6, 2013 |
| Stifel | Buy | Hold | Upgrade | Nov 18, 2012 |
| Sterne Agee | Neutral | Neutral | Maintain | Oct 17, 2012 |
Track every rating change on BAC-PM the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationBank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services.…
Historical context
All BAC-PM earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| MS-PO Morgan Stanley | FY2026 Q3 · Calendar Q4 2026 | +3.4% | — | Morgan Stanley Q3: Record Wealth Flows and AI Financing Focus |
| MS-PE Morgan Stanley | FY2026 Q3 · Calendar Q4 2026 | +3.4% | — | Morgan Stanley Q3: Wealth flows and AI financing support growth |
| MS-PL Morgan Stanley | FY2026 Q3 · Calendar Q4 2026 | +3.4% | — | Morgan Stanley Q3: Record flows strengthen the integrated-firm case |
| MS-PA Morgan Stanley | FY2026 Q3 · Calendar Q4 2026 | +3.4% | — | Morgan Stanley posts record Q3 as wealth and institutional growth broaden |
| BAC-PS Bank of America Corporation | FY2026 Q3 · Calendar Q4 2026 | 0.0% | — | BofA: Loan Growth and NII Support Raised Outlook |
| BAC-PP Bank of America Corporation | FY2026 Q3 · Calendar Q4 2026 | 0.0% | — | BofA: Deposit Growth and AI Investment Offset Markets Weakness |
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-15. For educational purposes only; not investment advice.