Bank of America CEO Moynihan signals flat Q3 trading revenue, triggering bank stock selloff

15 September 2026 · Source balance: Centre

Bank of America CEO Brian Moynihan told investors Monday that the bank's third quarter trading revenue will be relatively flat compared to a year ago. He also projected investment banking fees of one-point-six to one-point-eight billion dollars, falling short of Wall Street's two billion dollar consensus estimate. Both figures represent a sharp pullback from the bank's strong second quarter, when trading revenue jumped thirty-three percent and investment banking fees surged fifty percent. The market reacted swiftly. Bank of America shares dropped five percent, and the decline rippled across the financial sector as competitors like Goldman Sachs and Citigroup also fell. Moynihan stressed the broader context: the entire investment banking market is tracking roughly ten percent lower than a year ago. While the CEO characterized the results as still delivering one of the bank's best quarters ever, the revenue guidance signals cooling dealmaking activity and trading appetite after an unusually hot first half of the year.