BofA: Financial Winners and Losers

(Updated with stock price moves.)

NEW YORK (TheStreet) -- Bank of America (BAC Quote) was among the losers of the financial sector Thursday, one day before the bank was set to release its eagerly-awaited quarterly earnings report.

Bank of America is expected to swing to a loss of 6 cents a share while revenue is expected to jump 41% from a year ago to $27.71 billion, according to a poll of analysts by Thomson Reuters. Shares of BofA were lately down 52 cents, or 2.8%, to $18.07.

BofA's report comes after JPMorgan Chase (JPM Quote) exceeded forecasts with its quarterly release Wednesday and both Goldman Sachs (GS Quote) and Citigroup (C Quote) delivered better-than-expected earnings Thursday morning.

Goldman Sachs posted third-quarter earnings of $5.25 a share, blowing past the Thomson Reuters average estimate of $4.24 a share. Revenue, however, declined 10.1% from a year ago to $12.37 billion, although that number also exceeded analysts' expectations of $11.1 billion.

On the negative side, Goldman said revenue from its investment banking division was 31% below year-ago levels and 38% lower than the second quarter of 2009.

In a research note, Rochdale Securities analyst Dick Bove said Goldman Sachs' third quarter was weak as expected but the fourth quarter and 2010 is likely to be much stronger.

"The return on equity in the quarter was above 21% despite what appears to be excess equity in the business," Bove wrote. "These returns are likely to go higher in the next few quarters as earnings grow. This makes this stock a compelling buy."