Analyst Consensus ?
ConsensusHold39 ratings
Bullish1948.7%
Neutral1846.2%
Bearish25.1%
Bank of America Corporation · BAC-PP · FY2026 Q2 · Calendar Q3 2026
BAC-PP Q2 2026: Broad Growth, Stronger Operating Leverage
The Q2 analysis supports a constructive but conditional view: broad revenue growth, continued deposits and loans, operating leverage and AI adoption strengthen the earnings trajectory, while rates, funding costs and balance-sheet execution remain important tests.
Reported Before market openNYSEFinancial Services
$401.34B market cap
85quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.21
Consensus $1.13
EPS surprise
+7.1%
Reported versus consensus
Reported revenue
$31.56B
Consensus $30.78B
Revenue surprise
+2.5%
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-PP FY2026 Q2
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How did the market react to BAC-PP FY2026 Q2 earnings, and why?What changed in BAC-PP's guidance and outlook in FY2026 Q2?Give me the bull and bear case for BAC-PP after FY2026 Q2 earnings.
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Transcript intelligence
What changed
Compared with the prior-quarter analysis, the current call showed broader segment growth, stronger first-half operating leverage, continued deposit expansion and more detail on AI adoption. Management also raised full-year NII guidance to the top of the previously stated 6%-8% range.
Guidance delta
Management raised full-year NII guidance to the top of the 6%-8% range and expects continued loan and deposit growth.
Key takeaways
- Revenue and earnings growth was broad-based across segments, with investment banking fees and sales and trading among the highlighted contributors.
- Management said first-half operating leverage of 450 basis points exceeded its 200-300 basis-point target and supported a full-year outlook of 300-400 basis points.
- Deposit growth continued for the 12th straight quarter; management also highlighted accelerating AI adoption and stable credit quality.
Management priorities
- Continue AI deployment across operations, risk, finance and client-facing teams.
- Grow operating accounts and non-interest-bearing deposits while expanding consumer banking, rewards and digital channels.
- Pursue fixed-rate asset repricing and additional balance-sheet optimization.
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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-PP the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationBank of America Corporation, operating globally through its various divisions, delivers a comprehensive suite of banking and financial solutions. Its extensive client base includes individual consumers, small and mid-sized enterprises, institutional investors, major corporations, and governmental entities across the globe. The company's Consumer Banking division caters to individuals with a range of deposit products, such as standard savings, money market accounts, certificates of deposit (CDs), and IRAs, alongside both interest-bearing and non-interest-bearing checking options. This segment also provides investment accounts, credit and debit cards, residential mortgages, home equity loans, and various direct and indirect lending solutions, including those for automobiles, recreational vehicles, and personal needs. Under its Global Wealth & Investment Management arm, Bank of America delivers a spectrum of services encompassing investment management, brokerage, general banking, trust services, and retirement planning.…
Historical context
All BAC-PP 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 | — | — | Morgan Stanley: Wealth flows and equities lead a strong Q3 |
| MS-PE Morgan Stanley | FY2026 Q3 · Calendar Q4 2026 | — | — | Morgan Stanley: Wealth flows and AI financing drive a strong Q3 |
| MS-PL Morgan Stanley | FY2026 Q3 · Calendar Q4 2026 | — | — | Morgan Stanley: Record Q3, strong wealth flows and AI ambitions |
| MS-PA Morgan Stanley | FY2026 Q3 · Calendar Q4 2026 | — | — | Morgan Stanley: Record Q3, strong flows, higher AI investment |
| BAC-PS Bank of America Corporation | FY2026 Q3 · Calendar Q4 2026 | — | — | Bank of America pairs loan growth with higher technology investment |
| BAC-PB Bank of America Corporation | FY2026 Q3 · Calendar Q4 2026 | — | — | Bank of America lifts 2027 NII target despite settlement charge |
Latest beats and misses
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Missed on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-07-14T16:03:10.476655+00:00
- FN2 earnings calendar · 2026-08-19T01:23:14.696161+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.