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Bank of America is set to report third-quarter earnings — here's what the Street expects

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Bank of America was supposed to be one of the big beneficiaries of higher interest rates. Instead, the stock has been the worst performer among peers this year.

Bank of America is set to report third-quarter earnings.Provision for credit losses: $1.3 billionto be one of the biggest beneficiaries of higher interest rates this year. Instead, the company's stock has been the worst performer among its big-bank peers in 2023. That's because, under CEOin the 10-year Treasury yield than its peers — and more similar to some regional banks that are also nursing underwater bonds.

The situation has pressured the bank's net interest income, or NII, which is a key metric that analysts will be watching this quarter. In July, the bank's CFO, Alistair Borthwick,Top economists unanimous on 'higher for longer' rates as inflation threats lingerMike Trout

 

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Bank of America is set to report third-quarter earnings — here's what the Street expectsBank of America was supposed to be one of the big beneficiaries of higher interest rates. Instead, the stock has been the worst performer among peers this year.
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