New York, Feb 19, 2026, 11:17 EST — Regular session
Shares of Bank of America Corp (BAC.N) fell 1.5% to $52.54 in late-morning trade on Thursday. The stock has ranged between $51.52 and $53.30, with about 17 million shares traded.
Other big U.S. lenders were also lower, though Bank of America was among the weaker names: Wells Fargo fell 1.4% and Citigroup slid 0.9%, while JPMorgan was off 0.3%. The Financial Select Sector SPDR Fund (XLF) was down about 1.1%.
Banks have been trading off shifting interest-rate expectations after minutes from the Federal Reserve’s last meeting signaled policymakers were not in a hurry to cut rates and some were open to hikes if inflation stays sticky. “There isn’t a great deal of urgency to cut rates again,” said Peter Dragicevich, Asia-Pacific currency strategist at Corpay. (Reuters)
On the company side, Bank of America said on Wednesday it will replace its Preferred Rewards offering with a new program, BofA Rewards, on May 27, widening eligibility to any customer with a personal checking account and no minimum balance. The bank said Preferred Rewards has grown to more than 11 million members since its launch. (Reuters)
The lender is also launching an art consulting service for Bank of America and Merrill clients, targeting wealthy customers who increasingly use art as collateral for loans. “It’s a very interesting moment to look for new long-term trends in the art market,” said Drew Watson, Bank of America’s head of art services. (Reuters)
A Form 4 filing showed Vice Chair Bruce Thompson reported vesting of restricted stock units and shares withheld to cover tax obligations, a common feature of executive pay disclosures. The transactions were dated Feb. 15, and the filing listed about 859,151 shares held directly after the transactions.
But the push to deepen retail and wealth relationships can come with a cost: richer perks and discounts can weigh on expenses, while tighter competition for deposits can raise funding costs. A sharper downturn would also revive worries about credit losses.
Next up, traders are focused on Friday’s Personal Consumption Expenditure report — the Fed’s preferred inflation gauge — for clues on where rates go next, along with comments from Fed officials scheduled to speak during the day. (Reuters)
