Shares of several U.S. bank stocks fell Wednesday after the firms released quarterly results, extending a weak start to 2026. Investors sold despite profit gains at Bank of America and Wells Fargo, sending both stocks lower.
(Ed. note: Stocks fell despite profit increases for both banks.)
Bank of America said fourth-quarter EPS rose 18% to $0.98, above forecasts. Revenue increased about 7% to $28.4 billion, topping analysts’ $27.8 billion estimate.
Wells Fargo reported EPS of $1.62, missing forecasts of $1.67 per share. The results reflected a $0.14 per-share severance impact and a $612 million charge.
With consumers and businesses proving resilient, as well as the regulatory environment and tax and trade policies coming into sharper focus, we expect further economic growth in the year ahead. Both banks recorded their highest full-year net income in four years.
Wells Fargo had about 205,000 employees at year-end, a 6% decrease from 2024. Year-to-date, Bank of America stock is down 4.9% and Wells Fargo stock is down 4.64%.
