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BAC earnings 1Q 2022

CEO and Chairman of the Financial institution of America Brian Moynihan speaks through the UN Local weather Change Convention (COP26) in Glasgow, Scotland, Britain, November 2, 2021.

Hannah McKay | Reuters

Bank of America is scheduled to report first-quarter earnings earlier than the opening bell Monday.

This is what Wall Road expects:

  • Earnings:  75 cents a share, 13% decrease than a 12 months earlier, in response to Refinitiv.
  • Income: $23.2 billion, 1.1% greater than a 12 months earlier.
  • Internet Curiosity Earnings: $11.72 billion, in response to StreetAccount
  • Buying and selling Income: Mounted Earnings $2.69 billion, Equities $1.61 billion
  • Investing Banking: $1.74 billion

Financial institution of America is meant to be one of many large beneficiaries of rising rates of interest — however will that be sufficient to offset declines in funding banking?

That is the query of the second after JPMorgan Chase, Goldman Sachs and Citigroup all disclosed sharp drops in first-quarter advisory revenues.

Financial institution of America, led by CEO Brian Moynihan, had loved tailwinds as rising rates of interest and a rebound in mortgage development promised to spice up earnings. However financial institution shares acquired hammered this 12 months amid considerations that greater inflation would assist spark a recession, which might result in greater defaults.

Whereas longer-term charges rose through the quarter, brief time period charges rose extra, and that flat, or in some instances inverted, yield curve spurred considerations about an financial slowdown forward.  

Financial institution of America shares have fallen 15% this 12 months earlier than Monday, worse than the 11.6% decline of the KBW Financial institution Index.

Final week, JPMorgan stated revenue slumped because it posted losses tied to Russia sanctions and put aside cash for future mortgage losses. Goldman, Morgan Stanley and Citigroup every topped expectations with stronger-than-expected buying and selling outcomes, and Wells Fargo missed on income amid a decline in mortgage lending.

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