Bank of America reports below-forecast earnings, and the stock starts dropping
The lender said the charge cut earnings by 17 cents a share and pushed adjusted profit below LSEG estimates.
- On Wednesday, Bank of America reported third-quarter 2026 financial results, missing profit estimates after disclosing a $1.2 billion regulatory settlement charge tied to anti-money laundering failures.
- The U.S. Department of the Treasury imposed a fine of over $1.21 billion stemming from the bank's failure to report over $5 billion in suspicious activity to regulators.
- Global Wealth and Investment Management revenue climbed 13 percent to $7.12 billion, while investment banking fees fell 11 per cent to $1.8 billion in the quarter.
- Shares of Bank of America fell around 6 percent in pre-market trading on the New York Stock Exchange, adding to the stock's 1.9-per-cent decline this year.
- Chair and CEO Brian Moynihan stated the team delivered "organic growth," noting that commercial lending grew in every client segment despite headwinds in capital markets.
46 Articles
46 Articles
Bank of America reports below-forecast earnings, and the stock starts dropping
Bank of America has just reported results, and the stock is dropping by about 4% in reaction. S&P 500 futures are still up 0.2%. The number-two U.S. bank reported adjusted earnings of $1.08 a share -- which excludes Tuesday's announced settlement with the U.S. Treasury over money-laundering control
Reformatorisch Dagblad
welingelichtekringen.nlNew York stock markets opened mixed on Wednesday following small losses the previous day. Attention was once again focused on the banking sector following results from Bank of America. The United States' second-largest bank saw its profit decline last quarter due to a $1.2 billion fine for failing to combat money laundering. Revenue also came in lower than expected. The stock fell 7.5 percent.
Bank of America's third-quarter results fell significantly short of expectations after a $1.2 billion regulatory fine hit profit, while its trading business also performed worse than expected. The bank's stock price fell more than 7 percent after the opening bell, CNBC reported. We will also cover similar topics at our Portfolio Investment Day conference on October 21. One of the biggest investment events of the year is coming up, where professi…
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