BAC - Is Bank of America Stock a Buy Now After Earnings?
2024-07-20 18:12:00 ET
Shares of Bank of America (NYSE: BAC) surged following the release of its latest quarterly earnings. The megabank beat expectations with results benefiting from a resilient economic backdrop and improving credit conditions. The stock is up an impressive 31% year to date, climbing back to its highest level since early 2022.
The positive headlines are encouraging, but are they enough to keep the rally in Bank of America stock going? Here's what investors need to know.
Bank of America reported second-quarter earnings per share (EPS) of $0.83, ahead of the average Wall Street estimate of $0.80. Revenue of $25.4 billion was above the $25.2 billion forecast, and up 1% year over year.
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Is Bank of America Stock a Buy Now After Earnings?