11:12 AM EDT, 07/15/2026 (MT Newswires) -- Bank of America ( BAC ) has a diversified business model and a low-cost deposit base that support stronger long-term earnings growth, RBC Capital Markets said in a note emailed Wednesday.

The firm said Q2 results reflected positive operating leverage and organic growth, with revenue increasing 15% year over year while expenses rose a modest 8%, resulting in a 6.6% operating leverage.

RBC said higher net interest income, stronger investment banking fees and higher asset management fees supported the quarter.

The firm also noted improving credit quality, including a lower net charge-off ratio, lower commercial criticized exposure and a fifth consecutive quarterly improvement in credit card delinquencies.

RBC maintained its outperform rating on Bank of America ( BAC ) and raised its price target to $65 from $59.

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