Bank of America Reports Q1 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/BAC'>Bank of America (NYSE:BAC) </a>recently reported its Q1 results, with EPS coming in at $0.80, above the Street estimate of $0.74. Revenue was $23.2 billion, slightly beating the Street estimate of $23.11 billion.</p>
<p>Analysts at Berenberg Bank believe the company is exceptionally well placed to benefit from rising US interest rates and the re-allocation of excess consumer savings into investment accounts. In this respect, the 10% year-over-year growth in the company’s wealth and investment management revenues during Q1 is reassuring. According to the analysts, this should enable superior revenue growth versus peers in the next three years. </p>
<p>Moreover, the analysts think that the company’s cost discipline and lesser exposure to investment banking (IB) headwinds provide further relative support.</p>

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