Bank of America (BAC) is set to report a Q1 earnings tomorrow before the market opens with a conference call to follow at 8:30am ET.

Current Capital IQ consensus stands at EPS of $0.66, representing growth of 6%, Net Income of $6.44 bln, flat to slightly down yr/yr, on Revenue of $23.24 bln, also flat to slightly down yr/yr.

There is some concern around BAC as it is the most rate sensitive money center and yields have been sliding lower in the quarter. This will have the Net Interest Margin in focus (NIMs). Current expectations are for NIM to be flat from Q4s 2.48%.

Revenue Growth has been mixed with JPM being the only bank to register an increase (+4.4%) while WFC, C, and GS have all seen declines, with GS coming in the worst at -13% yr/yr.


Courtesy of


Shares of BAC are battling resistance at the $30 level ahead of tomorrow's report. Investor expectations will be cautious ahead of the report given the rate sensitivity around BAC.

A strong report is needed to break it out of its current range. Otherwise look for shares to continue to trade sideways between $27-30.


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