BofA CFO Sees Net Interest Income Rising Through 2027
BAC is trading near its 52-week low of $46.115 (9.2% above the low).
Summary
CFO says net interest income will improve sequentially in Q4 and keep rising through 2027. This is fresh forward guidance beyond the Q3 earnings already reported. It signals management confidence in the rate environment and loan book. The comment comes a day after Q3 results showed NII up 8% year-over-year despite a $1.2B AML penalty. Traders will weigh this against the recent penalty and the $250B infrastructure initiative. The CFO also said trends continue to point to a healthy consumer and commercial client base and credit quality.
At the time of this announcement, BAC was trading at $50.35 on NYSE in the Finance sector, with a market capitalization of approximately $377.3B. The 52-week trading range was $46.12 to $65.23. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.