Bank of America's Nitpickers Miss The Point -- Market Talk

Dow Jones01-15

1002 ET - Bank of America reported slightly better-than-expected 4Q earnings and gave guidance that was reasonably in line with projections, Oppenheimer says in a research note, but shares were weaker nonetheless. Analysts Chris Kotowski and John Coffey attribute that to "a particular nit that analysts had to pick" over an accounting change, which lowered Bank of America's efficiency ratio by nearly two percentage points. Analysts generally argued that management should therefore lower the medium-term efficiency rate target by a similar amount, but management demurred, Kotowski and Coffey say, adding "we think it's a nothingburger." They say they would take advantage of Wednesday's 3.7% drop in the stock. Bank of America is off 0.4% in early trading. (connor.hart@wsj.com)

(END) Dow Jones Newswires

January 15, 2026 10:02 ET (15:02 GMT)

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Analysts generally argued that management should therefore lower the medium-term efficiency rate target by a similar amount, but management demurred, Kotowski and Coffey say, adding \"we think it's a nothingburger.\" They say they would take advantage of Wednesday's 3.7% drop in the stock. Bank of America is off 0.4% in early trading. 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