Bank of America's stock falls ahead of earnings, in wake of Goldman and JPMorgan disappointments

Shares of Bank of America Corp. /zigman2/quotes/200894270/composite BAC +0.50% dropped 2.9% in afternoon trading Tuesday, putting them on track for a fourth-straight decline, ahead of the bank's fourth-quarter results due out before the next session's opening bell. The stock has now shed 5.5% during its losing streak. The stock's losses comes after bank and broker Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS +2.51% reported disappointing fourth-quarter results on Tuesday, sending the stock down 6.4%, and J.P. Morgan Chase & Co. /zigman2/quotes/205971034/composite JPM +0.94% fourth-quarter results reported before Friday's open has helped trigger a two-day drop of 10.0%. Bank of America's stock rose 4.5% on the day it reported third-quarter results (Oct. 14), but fell on the day of the previous seven quarterly reports by an average of 3.2%, according to FactSet data. Meanwhile, the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.30% fell 1.4% on Tuesday after gaining 0.1% on Friday.

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Bank of America Corp.

US : U.S.: NYSE

$ 28.31

+0.14 +0.50%

Volume: 57.88M

May 26, 2023 4:00p

P/E Ratio

8.52

Dividend Yield

3.11%

Market Cap

$225.61 billion

Rev. per Employee

$616,779

/zigman2/quotes/209237603/composite

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Goldman Sachs Group Inc.

US : U.S.: NYSE

$ 332.01

+8.13 +2.51%

Volume: 2.72M

May 26, 2023 4:00p

P/E Ratio

11.82

Dividend Yield

3.01%

Market Cap

$110.38 billion

Rev. per Employee

$1.64M

/zigman2/quotes/205971034/composite

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JPMorgan Chase & Co.

US : U.S.: NYSE

$ 136.94

+1.27 +0.94%

Volume: 8.58M

May 26, 2023 4:00p

P/E Ratio

10.10

Dividend Yield

2.92%

Market Cap

$400.18 billion

Rev. per Employee

$612,594

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S&P 500 Index

US : S&P US

4,205.45

+54.17 +1.30%

Volume: 0.00

May 26, 2023 5:20p