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

Bank of America raises NII outlook after strong Q1 2026

Bank of America’s Q1 results support a constructive near-term operating narrative: earnings exceeded estimates, net interest income growth strengthened, deposits and loans expanded, and management raised full-year NII growth guidance. The case still depends on sustaining operating leverage, consumer and commercial growth, ROTCE, and capital flexibility as regulation and the rate backdrop evolve.

Reported Session unavailableNYSEFinancial Services $326.63B 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-PQ FY2026 Q1

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

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Transcript intelligence

What changed

Compared with the supplied event baseline, the main developments were a 9% year-over-year increase in net interest income, higher full-year NII growth guidance of 6–8%, improved operating leverage, deposits above $2 trillion, and expanded use of AI tools across the workforce. No prior-quarter analysis or market-reaction data was supplied for comparison.

Guidance delta

Management raised full-year net interest income growth guidance to 6–8% after a 9% year-over-year increase in the quarter.

Key takeaways

  • Revenue and EPS exceeded estimates, with growth across segments.
  • Net interest income rose 9%, supporting higher full-year NII growth guidance.
  • Operating leverage improved, with a 61% efficiency ratio and 16% ROTCE.
  • Deposits exceeded $2 trillion, while management highlighted technology and AI investment.

Management priorities

  • Expand relationship-manager and digital-platform investment.
  • Use 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.
  • Manage capital returns and regulatory requirements, including Basel III Endgame and the G-SIB framework.

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Earnings History

Estimate Beat Miss Match
BAC-PQ EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q4 '23 actual $0.39, None 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, 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-PQ 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
STT State Street Corporation FY2026 Q3 · Calendar Q4 2026 +0.3% -4.1% State Street raises growth outlook as fee revenue reaches a record
STT-PG State Street Corporation FY2026 Q3 · Calendar Q4 2026 +0.3% — State Street posts strong Q3 and raises fee, NII guidance
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

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.