Despite a slight pullback in Bank of America shares, both companies are approaching key buy points, supported by strong results in areas such as investment banking and interest income growth.
The profits of Bank of America (BAC) They more than doubled to 82 cents per share, up from 35 cents a year ago. Revenue increased 15% to $25.3 billion. FactSet analysts expected earnings of 77 cents per share on revenue of $25.1 billion.
Let us remember that, in the Buenos Aires stock market, the Argentine Certificates of Deposit (Cedear) allow local investors to access shares of foreign companies, in this case the two banks have them.
Net interest income grew 3% to $14.4 billion, driven primarily by activity in global markets, rebalancing of fixed-rate assets and loan growth. The provision of Bank of America for credit losses rose to $1.5 billion from $1.1 billion last year.
Morgan Stanley’s balance sheet
Morgan Stanley (MS) earnings rose to $2.22 per share from 85 cents a year ago, beating analyst estimates of $1.70. Revenue rose 26% to $16.223 billion, while FactSet analysts expected $15.03 billion.
Investment banking revenues grew 25% to US$1.64 billion.
bank of america.avif
Morgan Stanley increased its provision for credit losses to $115 million from $3 million last year. MS shares rose 1.6% early Thursday. The stock rallied 4.8% on Wednesday, regaining support at its 50-day moving average and surpassing an early aggressive entry point at 129.95.
This brought the price closer to the 136.24 buy point in an eight-week flat base. Banks overall rose on Wednesday, with JPMorgan Chase (JPM) and Goldman Sachs (GS) leading fourth-quarter banking results with notable outperformance.
Source: Ambito
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