Bank of America and U.S. Bancorp report strong Q1 earnings amidst banking industry uncertainty.
TL;DR Summary
Bank of America reported better-than-expected Q1 results with revenue increasing 13% YoY to $26.3 billion and EPS of $0.94. Following the earnings announcement, analysts revised their price targets on the stock. Citigroup cut the price target to $33, Keefe, Bruyette & Woods raised it to $29, Oppenheimer raised it to $47, and Morgan Stanley increased it to $32. Bank of America shares rose 0.6% to close at $30.56 on Tuesday.
- These Analysts Revise Price Targets On Bank of America Following Upbeat Q1 Results - Bank of America (NYSE:BAC) Benzinga
- Bank of America beats estimates on revenues and profits in Q1 earnings CNBC Television
- Bank Earnings: What to Know About U.S. Bancorp, Citizens and Ally Financial The Wall Street Journal
- Bank Earnings Beats Push Fed Rate Hike Bets, But Investors Aren't Buying It TheStreet
- Minneapolis-based U.S. Bancorp sees profit growth despite recent banking turmoil Star Tribune
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