This Bank of America Analyst Cuts Estimates After Q3 Results

Bank of America Corporation (NYSE: BAC) reported third-quarter earnings of 91 cents per share, missing the consensus estimate of $1.10 per share. Analyst Scott Siefers from Piper Sandler reiterated a Hold rating and lowered the price target from $60 to $56, while also reducing earnings estimates for 2026 and 2027. Despite the earnings miss, Siefers noted a constructive outlook with improving net interest margin and guidance for net interest income growth of over 8% into 2027. Bank of America's shares declined 0.29% to $51.26 following the report.