Bank of America (NYSE:BAC) reported better-than-expected third-quarter fiscal 2025 financial results on Wednesday.
The bank reported a net income of $8.5 billion (up from $6.9 billion a year ago) and EPS of $1.06, beating the analyst consensus estimate of $0.94.
Revenue, net of interest expense, increased 11% year-over-year (Y/Y) to $28.24 billion, beating the analyst consensus estimate of $27.50 billion.
In the fourth quarter, Bank of America expects a net interest income of $15.6 billion to $15.7 billion, up roughly 8% Y/Y.
Bank of America shares closed at $52.28 on Wednesday.
These analysts made changes to their price targets on Bank of America following earnings announcement.
- Barclays analyst Jason Goldberg maintained Bank of America with an Overweight rating and raised the price target from $54 to $59.
- Citigroup analyst Keith Horowitz maintained the stock with a Buy and raised the price target from $58 to $62.
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