Bank of America third-quarter profit falls on $1.2-billion fine

Bank of America

14/10/2026 11:54

Overview
U.S. banking giant's Q3 revenue net of interest expense rose 3% yr/yr to $30 bln
Adjusted EPS for Q3 was $1.08, net income totaled $6.9 bln
Net interest income grew 8% yr/yr, driven by higher loan and deposit balances
Results include a regulatory settlement charge of $1.2 billion, or $0.17 per share

Outlook
Bank of America did not provide specific guidance for the current quarter or full year

Result Drivers
NET INTEREST INCOME - Co said net interest income grew 8% yr/yr, driven by higher loan and deposit balances
ASSET MANAGEMENT FEES - Co said asset management fees rose 17%, supporting revenue growth

Company press release: Full Story

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue Net of Interest Expense
 
$30 bln
 
Q3 Adjusted EPS
 
$1.08
 
Q3 EPS
 
$0.91
 
Q3 Net Income
 
$6.9 bln
 
Q3 Net Interest Income
 
$16.4 bln
 
Q3 CET1 Capital Ratio
 
10.9%
 
Q3 Provision for credit losses
 
$1.3 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Bank of America Corporation is $66.00, about 22.3% above its October 13 closing price of $53.96
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads
Oct 13 - BofA fined $1.2 billion by US government for failing to police suspicious activity
Oct 13 - Major US banks post solid third quarter loan growth, but see more competition for deposits
Oct 13 - JPMorgan posts rare profit miss as dealmaking, bond trading lose momentum

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

Press Release https://d1io3yog0oux5.cloudfront.net/_f11ccfe8ada30ec2e4f311f10a442d51/bankofamerica/db/806/10611/earnings_release/The+Press+Release_3Q26.pdf
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)