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Bank of America (BAC) Q3 2021 Results

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Bank Of America CEO Brian Moynihan is interviewed by Jack Otter during “Barron’s Roundtable” at Fox Business Network Studios on January 9, 2020 in New York City.

John Lamparski | Getty Images

Bank of America is expected to release its third quarter results before the opening bell Thursday.

Here’s what Wall Street is waiting for:

  • Profit: 71 cents per share, 39% more than a year earlier, according to Refinitiv.
  • Revenue: $ 21.8 billion, 6.5% more than a year earlier.
  • Net interest income: $ 10.6 billion on a reported basis, according to StreetAccount
  • Trading income: fixed income $ 1.93 billion, stocks $ 1.45 billion
  • Investment banking turnover: $ 2 billion

Has Bank of America loan demand taken a turn?

This is what analysts are wondering about the second-largest US lender in terms of assets. Investors want to see loan growth improve after a weak first half as this will help the bank generate more interest income.

Like other lenders, Bank of America set aside billions of dollars for credit losses last year, when the industry anticipated a wave of defaults linked to the coronavirus pandemic. Banks released some of those funds as the losses did not arrive, and analysts will be curious how much of a boost this momentum will take in the second half of the year.

They will also likely ask CEO Brian Moynihan about succession planning after his most senior deputy, COO Tom Montag, announced his departure. Last month, Moynihan announced a radical management overhaul, including a new CFO, CTO, general counsel and COO.

Shares of Bank of America have climbed 42% this year, beating the 36% gain in the KBW Bank index.

Biggest rival JPMorgan Chase on Wednesday posted better-than-expected results, thanks to a $ 1.5 billion increase due to better-than-expected loan losses.

This story is developing. Please check for updates.

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