How Will Bank of America (BAC) Stock React to Q2 Earnings?
NEW YORK (TheStreet) -- Shares of Bank of America (BAC) - Get Report are down 0.4% to $13.60 in mid-afternoon trading Friday ahead of the bank's 2016 second quarter results due out before Monday's market open.
Analysts are modeling that earnings per share and revenue will decline year-over-year.
Wall Street is expecting the Charlotte, NC-based firm to post adjusted earnings of 33 cents per share on revenue of $20.41 billion.
During the same period last year, Bank of America earned 45 cents per share on revenue of $22.35 billion.
Earlier today, Wells Fargo (WFC) reported 2016 second quarter results that were in line with analysts' expectations. TheStreet's Jim Cramer and Jack Mohr called the results "uninspiring" in a post today.
Citigroup (C) also posted 2016 second quarter results this morning, which topped analysts' expectations.
Shares of Wells Fargo are sliding 2.74% to $47.60 and Citigroup stock is lower by 0.83% to $44.08 on Friday afternoon.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on Bank of America stock.
The company's strengths can be seen in multiple areas, such as its good cash flow from operations, expanding profit margins and notable return on equity.
The team believes its strengths outweigh the fact that the company has had sub par growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: BAC