Bank of America Posts Record Q2 Earnings, Analyst Says It Will Grow Further as Yield Curve Steepens

Shares of Bank of America Corp (NYSE: BAC ) rose in early trading on Wednesday, after the release of fiscal second-quarter results. The company’s core low-cost deposit base is expected to drive healthy growth over the next 12-months as the yield curve steepens, according to RBC Capital Markets. The Bank of America Analyst: Analyst Gerard Cassidy maintained an Outperform rating, while raising the price target from $59 to $65. The Bank of America Thesis: The companyreported record earnings for the quarter, with 15% revenue growth on broad-based strength, Cassidy said in the note.

Check out other analyst stock ratings. 6 billion. 1 billion. 21 per share.

0 billion, driven by Global Markets activity, higher loan/deposit balances, and fixed-rate asset repricing, while noninterest income climbed 22% and asset management fees rose 20%, Cassidy said. 6 billion on strong derivatives and cash performance, especially in the US and Asia, the analyst stated. Both credit quality and credit card delinquency rates improved during the first half of 2026, he added. Bank of America’s business model is aligned to grow with the US economy, Cassidy said.

"Its core low-cost deposit base is its strongest asset, and we expect it to shine over the next 12-months as the yield curve steepens," the analyst wrote. 52 at the time of publication on Wednesday. Read Also: These Analysts Boost Their Forecasts On Bank of America Following Upbeat Q2 Results