Bank of America (NYSE:BAC) is allocating a ~$1B restricted stock pool across most of its workforce, an incentive aimed to retain talent, boost profitability and contain expenses, according to a Friday media report.

(Reuters) - Bank of America is set to award stock to most of its global employees for the eighth time since 2017, following a robust performance by the second-largest U.S. lender in 2024, according to an internal memo seen by Reuters on Friday.

Bank of America stock is trading lower Wednesday after the financial firm reported earnings but Wall Street isn't worried. Here's why.

Bank of America on Thursday announced profits more than doubled in the fourth quarter, surging to $6.7 billion from $3.1 billion in the same period last year - another in a wave of favorable reports from the nation's biggest banks. The 111% increase in earnings buoyed its full-year profits to $27.1 billion.

Subscribe to TheStreet's free daily newsletter💰💸 Bank of America analysts revealed that although the U.S. software market grew 59% in 2023 and 23% in 2024, development projections still run below historical averages.

Truist Securities updated its financial model for Bank of America (NYSE:BAC), resulting in a slight increase in the price target for the bank's shares. The target has been adjusted to $53.00, up from the previous $52.

The nation's second-largest bank issued guidance that net interest income will reach up to $15.7 billion by next year's fourth quarter, a 7% increase.