Bank of America is about to report earnings – here's what to expect

• Bank of America is likely to have benefited from tailwinds during the quarter.
• Analysts expect net interest income, which is the difference in what banks pay depositors and what they earn on loans and investments, to have risen in the period.
• Meanwhile, the company gave guidance of a roughly 23% decline in investment banking fees in the quarter.

Bank of America is scheduled to report second-quarter earnings before the opening bell Wednesday.

Here's what Wall Street expects:

• Earnings: 86 cents per share, according to LSEG
• Revenue: $26.72 billion, according to LSEG
• Net Interest Income: $14.89 billion, according to StreetAccount
• Trading: Fixed income of $3.14 billion, equities of $2.14 billion, according to StreetAccount

Bank of America is likely to have benefited from two tailwinds during the quarter.

Analysts expect net interest income, which is the difference in what banks pay depositors and what they earn on loans and investments, to have risen in the period.

That could be an inflection point of sorts, with NII rising in the second half of this year, according to Truist analyst John McDonald.

On top of that, analysts expect trading revenues to climb in the “mid to high single digits” to about $5 billion in the quarter, McDonald said.

Meanwhile, the company gave guidance of a roughly 23% decline in investment banking fees in the quarter, but rival bank JPMorgan Chase saw a rebound in activity that bodes well for Bank of America.

Shares of the bank have climbed roughly 5% this year.

On Tuesday, JPMorgan, Citigroup and Wells Fargo each posted results that topped analysts' expectations for earnings and revenue.