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Bank of America Q2 2017 earnings

Brian Moynihan, Bank of America

Christopher Goodney | Bloomberg | Getty Images

Brian Moynihan, Bank of America

Bank of America, the second-largest U.S. bank by assets under management, is set to report second-quarter results on Tuesday.

Here’s what Wall Street is expecting:

  • EPS: 43 cents expected by analysts polled by Thomson Reuters.
  • Revenue: $21.781 billion expected by Reuters.
  • Net interest income: $11.34 billion expected by StreetAccount.
  • Fixed income trading: $2.22 billion expected.
  • Net charge-offs: $975.3 million expected.

The bank’s stock has outperformed its peers over the past six months. In that time period, Bank of America shares have risen 9.4 percent. The SPDR S&P Bank exchange-traded fund (KBE), meanwhile, has gained 3.4 percent.

BAC vs KBE, 6-month chart

Source: FactSet

Late last month, the bank hiked its annual dividend to 48 cents a share, or 12 cents per quarter. The increase gave way for Warren Buffett’s Berkshire Hathaway to become the bank’s largest shareholder. Berkshire has warrants to buy 700 million common shares of Bank of America at $7.14 each.

Also last month, Bank of America started to lay off employees in its operations and technology division. The cuts came as the bank tries to reduce costs to boost financial targets set by CEO Brian Moynihan.

Although Bank of America is also hiring, the employees that it is trying to reduce cost more than those who are joining, Moynihan said at a conference last month.

Bank of America is the latest big U.S. bank to report quarterly results. JPMorgan Chase, Citigroup and Wells Fargo all reported last week. Their results beat expectations. Goldman Sachs is also set to report later on Tuesday.

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