Bank of America Corp
BAC: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $43.00 | Jfzt | Nvcbcmfbm |
Bank of America Earnings: Lower Net Interest Income, One-Time Charges Have Impact; Expenses on Track
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Wide-moat-rated Bank of America reported fourth-quarter earnings per share of $0.35, lower than the FactSet consensus estimate of $0.53. Results were affected by an FDIC special assessment of $2.1 billion for uninsured deposits of certain failed banks, which reduced EPS by $0.20, and a noninterest income charge of $1.6 billion as a result of the cessation of the Bloomberg Short-Term Bank Yield Index, which reduced earnings by $0.15 per diluted common share. Excluding the nonrecurring charges, reported EPS came in at $0.70, largely in line with our expectations.