NEW YORK (TheStreet) -- Shares of Bank of America (BAC) - Get Report are rising by 2.54% to $17.55 in pre-market trading on Wednesday morning, after the financial services company reported better than expected earnings results for the 2015 second quarter.
For the most recent quarter Bank of America said it earned 45 cents per share on revenue of $22.35 billion.
Analysts polled by Thomson Reuters had forecast for earnings of 36 cents per share on revenue of $21.32 billion for the 2015 second quarter.
"Solid core loan growth, higher mortgage originations and the lowest expenses since 2008 contributed to our strongest earnings in several years, as we continued to build broader and deeper relationships with our customers and clients," Bank of America CEO Brian Moynihan said in a statement.
"We also benefitted from the improvement in the U.S. economy, where we are particularly well positioned," Moynihan added.
TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio, had this to say about Bank of America, "I now think this company can earn $2 next year which makes it completely investible here, in fact perhaps the cheapest in the group even as I like Wells (WFC) - Get Report more because of the amazing cross-selling that WFC does and its potentially gigantic net interest margin. Don't forget without legal fee bills BAC is a different, much better company."
Separately, TheStreet Ratings team rates BANK OF AMERICA CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BANK OF AMERICA CORP (BAC) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, expanding profit margins, solid stock price performance and growth in earnings per share. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity."
You can view the full analysis from the report here: BAC Ratings Report