Truist cuts target for Bank of America stock to USD 62.00

Published on 10/02/2026 at 14:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter earnings per share hit USD 1.21 versus USD 1.13 expected. Bank of America stock costs EUR 48.17 on October 2, 2026, versus EUR 47.76.

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Bank of America (ISIN US0605051046) was trading at EUR 48.17 at Lang & Schwarz on October 2, 2026 at 2:32 p.m. CEST, up 0.86 percent versus the prior close of EUR 47.76. MarketBeat reported on October 1, 2026 that Truist Financial cut its target from USD 65.00 to USD 62.00 while retaining a buy rating.

Truist resets the valuation bar

The target reduction puts the latest analyst reference below the USD 64.22 consensus target cited by MarketBeat on October 1, 2026. The same report listed 20 buy ratings and six hold ratings, leaving a Moderate Buy consensus despite the lower Truist objective.

At the Lang & Schwarz price of EUR 48.17, the daily move was plus 0.86 percent against EUR 47.76. That modest change keeps the analyst revision as the clearest company-specific focus for the session rather than a broad price swing.

Second-quarter earnings beat expectations

Bank of America reported USD 31.56 billion of revenue, net of interest expense, and USD 9.10 billion of net income for the second quarter of 2026. Diluted earnings per share reached USD 1.21, compared with USD 1.13 expected, while revenue rose 19.60 percent from the second quarter of 2025.

The earnings profile gives investors a counterweight to the target cut. Net income and diluted earnings per share were both higher than the prior-year comparison cited in the latest quarterly coverage, while the bank's return on tangible common equity was 17.00 percent for the second quarter of 2026.

October results set the next test

StockTitan reported that Bank of America will release third-quarter 2026 results on October 14, 2026, at approximately 6:45 a.m. ET, followed by an investor call at 8:30 a.m. ET. The company is listed on the New York Stock Exchange under ticker BAC.

The latest NYSE market context places Bank of America at a USD 381.3 billion market capitalization as of October 1, 2026, with a 52-week range of USD 46.12 to USD 65.23. The euro quote and the U.S. range use separate currencies and are therefore not combined into one performance calculation.

Stock facts and trading reference

Bank of America was trading at EUR 48.17 at Lang & Schwarz on October 2, 2026 at 2:32 p.m. CEST, versus the prior close of EUR 47.76, a daily gain of 0.86 percent. The further course of trading is shown by the continuously updated real-time quote of Bank of America stock.