NEW YORK, March 11, 2026, 12:37 PM EDT
Bank of America was trading lower by 1.5% at $47.855 as of 12:22 p.m. ET on Wednesday, erasing Tuesday’s 1.38% advance and falling beneath Monday’s close. The stock kicked off the session at $48.36, dipping to an intraday low of $47.79.
It isn’t only Bank of America in the spotlight. Wall Street slipped after February’s CPI landed right on estimates. Traders kept a wary eye on crude, hovering close to $91 a barrel, while questions lingered about the Iran conflict possibly stoking fresh inflation in the U.S.
Speaking at an RBC event Tuesday, Co-President Dean Athanasia projected first-quarter net interest income would climb at least 7%. He put the expected jump in investment banking fees around 10%, while markets revenue, he said, should notch up by a low double-digit percent. Capital markets, investment banking, wealth management — Athanasia called these “all good revenues.” Consumer spending, according to him, is still tracking a 5% annual growth pace. Credit quality? Still solid. As for the final Basel endgame rules, Athanasia suggested those could actually trim BofA’s capital requirements. Reuters
It’s much the same message BofA gave back in January: fourth-quarter profit topped forecasts, net income climbed to $7.6 billion, and revenue landed near $28.5 billion. According to the bank’s reporting schedule, first-quarter numbers drop April 15.
BofA isn’t the only one in this position. On Tuesday, Citigroup CEO Jane Fraser told investors the bank is forecasting mid-teens growth for first-quarter investment banking fees and markets revenue. She added that big-ticket M&A activity is “not missing a beat right now.” Still, by midday Wednesday, Citigroup shares had slipped about 1.1%, with JPMorgan down around 1.2% and Wells Fargo dropping over 2%. Reuters
Bank of America is ramping up its advisory efforts, too. On Tuesday, Reuters said the bank brought in four senior technology bankers from Centerview Partners, Goldman Sachs, and JPMorgan, aiming to carve out a bigger slice of tech dealmaking.
The risk is straightforward. Tim Holland, chief investment officer over at Orion, points out that February’s CPI report misses the recent oil jump, and says “the March CPI print should loom large on Wall Street.” Reuters
RSM chief economist Joe Brusuelas, in commentary to Reuters, cautioned that higher energy prices hit consumption and, eventually, chip away at corporate earnings. That’s the risk BAC faces now: the numbers look solid this quarter, but investors remain wary, pricing in slower growth and persistent inflation.
