Bank of America Corporation · BAC-PO · FY2026 Q1 · Calendar Q2 2026

Bank of America raises NII outlook after a strong Q1

The supplied analysis supports a constructive near-term operating picture: earnings and revenue beat expectations, net interest income and deposits grew, and management raised full-year NII growth guidance. The evidence remains incomplete for a longer-term conclusion because prior-quarter analysis and market-reaction data are unavailable.

Reported Session unavailableNYSEFinancial Services $399.01B 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 — Event window
SPY move — Same window
Abnormal move — Stock minus SPY
Volume — Versus trailing sessions
Subsequent drift — Up to 20 sessions
Price and volume data were unavailable at publication time.

Ask FN2 about BAC-PO FY2026 Q1

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How did the market react to BAC-PO FY2026 Q1 earnings, and why?What changed in BAC-PO's guidance and outlook in FY2026 Q1?Give me the bull and bear case for BAC-PO after FY2026 Q1 earnings.

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Transcript intelligence

What changed

Bank of America reported Q1 revenue of $30.3 billion and EPS of $1.11, with net interest income up 9% year over year. Management raised full-year NII growth guidance to 6–8% and highlighted operating leverage, deposit growth, technology investment, and capital returns.

Guidance delta

Full-year net interest income growth guidance was raised to 6–8% after 9% year-over-year growth in Q1.

Key takeaways

  • Revenue and EPS exceeded the supplied consensus figures, with growth across segments.
  • Net interest income rose 9%, and full-year NII growth guidance increased to 6–8%.
  • The efficiency ratio improved to 61% and ROTCE reached 16%.
  • Deposits exceeded $2 trillion, while CET1 capital exceeded $200 billion.

Management priorities

  • Invest in relationship managers and digital platforms.
  • Expand AI and technology initiatives to improve productivity and client experience.
  • Maintain disciplined expense growth while targeting 200–300 basis points of operating leverage for the year.
  • Continue capital returns while monitoring CET1 and Basel III developments.

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Earnings History

Estimate Beat Miss Match
BAC-PO EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q1 '24 actual $0.83, None Q2 '24 actual $0.87, None Q2 '25 estimate $0.86 Q2 '25 actual $0.93, beat Q3 '25 estimate $0.95 Q3 '25 actual $1.10, beat Q4 '25 estimate $0.96 Q4 '25 actual $0.98, beat Q1 '26 estimate $1.01 Q1 '26 actual $1.11, beat Q2 '26 estimate $1.13 Q2 '26 actual $1.21, beat Q3 '26 estimate $1.10 Q3 '26 actual $1.10, match Q4 '26 estimate $1.15 Q1 '27 estimate $1.24 Q2 '27 estimate $1.34 Q3 '27 estimate $1.33
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Analyst Consensus ?

ConsensusHold39 ratings
Bullish1948.7%
Neutral1846.2%
Bearish25.1%

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Oppenheimer Outperform OutperformMaintainOct 17, 2023
BMO Capital Market Perform Market PerformMaintainOct 17, 2023
Morgan Stanley Equal Weight Equal WeightMaintainOct 2, 2023
Piper Sandler Underweight UnderweightMaintainSep 14, 2023
RBC Capital Outperform OutperformMaintainSep 11, 2023
Show 34 more rating actions

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Company context

Snapshot as of publication

Bank of America Corporation, operating globally through its subsidiary entities, delivers a comprehensive suite of banking and financial services. Its clientele spans a broad spectrum, from individual consumers and small-to-mid-sized enterprises to major corporations, institutional investors, and governmental bodies. Within its Consumer Banking division, the company furnishes a wide array of offerings, including various savings options like traditional and money market accounts, certificates of deposit, and IRAs. Customers can also access both interest-bearing and non-interest-bearing checking accounts, investment vehicles, credit and debit cards, and a range of lending solutions. The latter category encompasses residential mortgages, home equity lines, and direct or indirect personal financing for items such as automobiles and recreational vehicles.…

Historical context

All BAC-PO earnings
—FY2026 Q3 · Calendar Q4 2026—FY2026 Q2 · Calendar Q3 2026

Financial Services peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
BAC-PL Bank of America Corporation FY2026 Q3 · Calendar Q4 2026 -17.3% — Bank of America posts solid organic growth despite settlement charge
MS-PK Morgan Stanley FY2026 Q3 · Calendar Q4 2026 +3.4% — Morgan Stanley: Strong Q3, AI and wealth-management momentum
MS-PP Morgan Stanley FY2026 Q3 · Calendar Q4 2026 +3.4% — Morgan Stanley Q3: Wealth flows and AI advisory drive strong results
MS-PI Morgan Stanley FY2026 Q3 · Calendar Q4 2026 +3.4% — Morgan Stanley Q3: Wealth Management and AI Advisory Lead Growth
MS-PQ Morgan Stanley FY2026 Q3 · Calendar Q4 2026 +3.4% — Morgan Stanley Q3: Wealth flows and AI financing support record results
MS Morgan Stanley FY2026 Q3 · Calendar Q4 2026 +3.4% -2.7% Morgan Stanley Q3: Wealth Flows and AI Advisory Lead Growth

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. 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.