The bank could report earnings per share of $2
by 2017, which compares with 75 cents this year, according to
While legal costs related to the global financial crisis have
impacted the bank's earnings, it should start to become more
profitable in the fourth quarter, Barron's noted. The company is
also expected to raise its dividend to 55 cents per share by
Chief Executive Brian Moynihan told the newspaper that the bank
is seeing rising profit in its core units.
"There's a lot to talk about when earnings will get back to
normal," he told Barron's.
Shares in Bank of America closed on Friday at $16.95 per share.
(Reporting by Liana B. Baker; Editing by Marguerita Choy)
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