Bank of America's Q3 Earnings Miss Weighed by 'Isolated' $1.2 Billion Settlement Charge, Oppenheimer Says

12:20 PM EDT, 10/15/2026 (MT Newswires) -- Bank of America (BAC) saw a Q3 earnings miss, weighed by a $1.2 billion settlement charge that seems "isolated and likely non-recurring," Oppenheimer said in a Thursday note. The company reported Q3 earnings of $0.91 per diluted share, down from $1.04 a year earlier, while revenue increased to $29.96 billion from $29.04 billion. Oppenheimer said adjusting-out the settlement charge puts EPS at about $1.08. While the charge is likely non-recurring, Bank of America's related Anti-Money Laundering costs could persist in the near term, the brokerage said. The expected increase in H2 operating expenses possibly led to the bank's operating leverage guidance cut, Oppenheimer noted. On the other hand, Bank of America guided for an 8% net interest income growth in 2027, backed by a steady increase in net interest margins, the investment firm added. Oppenheimer has a perform rating on Bank of America. Price: 51.38, Change: -0.01, Percent Change: -0.02