Motley Fool
Why Bank of America Stock Is Falling Today
Bank of America (NYSE: BAC) delivered second-quarter earnings today that came in ahead of expectations, but investors were more focused on faltering loan growth. Before markets opened today, Bank of America reported second-quarter earnings of $1.03 per share, besting the $0.77 consensus, on revenue of $21.5 billion that was slightly under the $21.83 billion expectation. The issue for Bank of America and other large financial institutions is that consumers and small businesses aren’t taking on new debt the way they used to.
