Wells Fargo cuts target for Bank of America stock from USD 69.00 to USD 64.00

Published on 10/27/2026 at 11:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Bank of America stock costs EUR 45.57 on October 27, 2026, 0.29 percent above Xetra close. Third-quarter revenue reached USD 30.0 billion.

Target cuts shape the earnings picture

Wells Fargo lowered its Bank of America target from USD 69.00 to USD 64.00 on October 15, 2026.
Third-quarter revenue reached USD 30.0 billion versus USD 29.0 billion in the year-ago quarter.
Bank of America stock trades at EUR 45.57 at 11:10 a.m. CET at Lang & Schwarz on October 27, 2026, 0.29 percent above the Xetra close of October 26, 2026.

Bank of America, US0605051046, Illustration mit AI erstellt.

Bank of America (ISIN US0605051046) stood at EUR 45.57 at Lang & Schwarz on October 27, 2026, at 11:10 a.m. CET, 0.29 percent above the Xetra close of October 26, 2026. MarketBeat reported that Wells Fargo cut its target from USD 69.00 to USD 64.00 on October 15, 2026.

Third-quarter results carry a charge

Bank of America reported third-quarter 2026 net income of USD 6.9 billion and diluted earnings per share of USD 0.91 on October 14, 2026. A USD 1.2 billion regulatory settlement charge reduced earnings per share by USD 0.17, while adjusted net income reached USD 8.1 billion and adjusted earnings per share reached USD 1.08.

The underlying revenue line was stronger than the reported profit figure. Revenue reached USD 30.0 billion in the third quarter of 2026, up 3.0 percent from USD 29.0 billion in the third quarter of 2025, while net interest income rose 8.0 percent to USD 16.4 billion.

What does the shortfall mean for earnings?

CNBC reported that third-quarter revenue came in below the USD 30.69 billion expectation, while adjusted earnings per share of USD 1.08 missed the USD 1.10 estimate. The comparison puts the regulatory charge beside a separate operating issue in trading.

Fixed-income trading revenue fell 17.0 percent year over year to USD 2.6 billion in the third quarter of 2026. Equities trading revenue increased 11.0 percent to USD 2.5 billion, but total sales and trading revenue declined 5.0 percent to USD 5.1 billion.

Three dates shaped the stock

On October 13, 2026, regulators announced consent orders that led to the USD 1.2 billion settlement charge, as described in the company release. On October 14, 2026, Bank of America reported USD 6.9 billion in third-quarter net income and USD 30.0 billion in revenue. On October 15, 2026, Wells Fargo reduced its price target from USD 69.00 to USD 64.00 while keeping an overweight view, according to MarketBeat.

Stock remains close to its yearly floor

Bank of America stock is priced against a primary-exchange 52-week range of USD 46.12 to USD 65.23 as of October 26, 2026. Its market capitalization was USD 349.7 billion on that date, giving the target cut a valuation context without turning it into a forecast.

Bank of America stock was trading at EUR 45.57 at Lang & Schwarz on October 27, 2026, at 11:10 a.m. CET, 0.29 percent above the Xetra close of October 26, 2026 at EUR 45.44. The further course of trading is shown by the continuously updated real-time quote of Bank of America stock.