Bank of America Corp
BAC: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $72.00 | Ywll | Sgkrhrv |
Net Interest Income Outlook Disappoints as NII Boom Seems Over for Bank of America After Q4 Results
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Wide-moat-rated Bank of America reported fourth-quarter earnings of $0.85 per share, ahead of the Factset consensus of $0.77 but below our own estimate of $0.92. The main difference between our estimates and Bank of America’s results was expenses, which came in 3% above our expectations. Management updated its net interest income, or NII, guide for the quarter several weeks ago, lowering its outlook by roughly $350 million. Provisioning was also slightly above our forecast.