Bank of America (BAC) Stock Jumps Thanks To Q3 Results

At the moment, BAC’s highest price in the last 13 years is $ 44.74, which was reached on October 8. These last 30 days, the worth has been popping, and the growth is 7%. The current price is $ 43.18. Bank of America provides services to everyone from individuals to large companies. Recently, it announced the financial results for the third quarter. Its results were so excellent, that BAC has jumped.

The report illustrated the company’s earnings were $ 7.7 billion, which is $ 2.8 billion more than in 2020, while revenues were up $ 2.5 billion from a year earlier to $ 22.8 billion. Net interest income grew by 10% due to an increase in loan balances. Bank of America’s billions of dollars that were put off a year ago have been released to cover loan losses. The reason for this was the improvement in the economy. This has led to an increase in net profit.