Bank of America Analysts Slash Their Forecasts Following Weak Q3 Results

Bank of America Corp reported a decline in net income to $6.9 billion for Q3 2026, down from $8.3 billion the previous year, with earnings per share at 91 cents, missing the consensus estimate of $1.11. Revenue increased by 3% year-over-year to $29.96 billion but fell short of Wall Street's expectation of $30.69 billion. Following the earnings announcement, several analysts adjusted their price targets downward, with Evercore ISI lowering it from $62 to $57, while RBC Capital cut theirs from $65 to $60. Bank of America shares rose 1% to $51.90 on Thursday.