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Bank of America reports below-forecast earnings, and the stock starts dropping
Weaker fixed-income trading and lower investment banking fees cut revenue, while a regulatory settlement reduced earnings by 17 cents per share, the bank said.
- 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.
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Bank of America shares flat after earnings-driven sell-off, slide over 20% from recent peak
Bank of America shares have fallen nearly 21% from their record high amid tighter monetary policy concerns and weak quarterly results. Earnings dropped 17% to $6.9 billion after a $1.2 billion regulatory fine, while revenue and trading results disappointed.
·New Delhi, India
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Coverage Details
Total News Sources66
Leaning Left7Leaning Right5Center14Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 27%
C 54%
R 19%
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