Bank of America falls short

Bank Of America Building

Bank of America reported quarterly earnings that fell short of analysts' expectations on Thursday.

The United States' second-largest bank by assets posted fourth-quarter earnings of 25 cents per share, down from 29 cents a share in the year-earlier period.

Revenue totaled $18.73 billion.

Wall Street had expected Bank of America to deliver quarterly earnings per share of 31 cents on $20.94 billion in revenue, according to a consensus estimate from Thomson Reuters.

The bank's third-quarter results were marred by its $16.65 billion mortgage settlement with the United States government. CEO Brian Moynihan tempered expectations for fourth-quarter trading revenues at a recent investor conference, CNBC reported this week.

Bank of America shares have fallen nearly 4 percent in the last year.

Reuters contributed to this report.

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