Pinnbrook Capital Management LP Sells 164,062 Shares of Bank of America Corporation $BAC

Pinnbrook Capital Management LP reduced its position in Bank of America Corporation (NYSE:BAC) by 77.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,657 shares of the financial services provider’s stock after selling 164,062 shares during the period. Pinnbrook Capital Management LP’s holdings in Bank of America were worth $2,407,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Steph & Co. lifted its holdings in shares of Bank of America by 224.3% during the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 379 shares in the last quarter. Marquette Asset Management LLC bought a new stake in Bank of America in the 3rd quarter worth about $30,000. Collier Financial purchased a new position in Bank of America in the 3rd quarter worth about $30,000. Mountain Hill Investment Partners Corp. purchased a new position in Bank of America in the 3rd quarter worth about $31,000. Finally, Wealth Preservation Advisors LLC lifted its stake in Bank of America by 48.7% during the 2nd quarter. Wealth Preservation Advisors LLC now owns 681 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 223 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America News Summary

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Wall Street remains broadly constructive on BAC with multiple buy/outperform ratings and a median price target near $62 — a reminder of upside potential if macro conditions stabilize. Bank of America Receives Average Recommendation of “Moderate Buy”
• Positive Sentiment: Brand and community initiatives (e.g., the Bank of America Chicago Marathon) and ongoing product partnerships support franchise value and client engagement over the long term. 2025 Bank of America Chicago Marathon Pumps Record $756 Million into Chicago Economy
• Neutral Sentiment: The Board announced scheduled preferred-stock dividend payments for April/May — routine cash flows for preferred holders that don’t materially change common-share economics. Bank of America Declares Preferred Stock Dividends Payable in April and May 2026
• Neutral Sentiment: New product/partnership news such as the Zelle DAF disbursement capability is strategically positive but unlikely to move the stock near-term; it’s an execution/UX improvement more relevant to retail client metrics. Zelle® and Bank of America Partner to Accelerate Delivery of Charitable Donations to Nonprofits
• Negative Sentiment: Bank of America strategist Michael Hartnett warned that market behavior looks “ominously close” to 2008, citing oil spikes and private-credit concerns — comments that can amplify risk-off flows into banks and hit sentiment across the sector. Stock Market Behavior is ‘Ominously Close’ to 2008, Warns BofA’s Hartnett
• Negative Sentiment: High-profile selling: reports show Berkshire (and Buffett-related filings) trimmed its BAC stake substantially, and headline coverage of Buffett selling roughly half his position has created fresh negative pressure and media attention. Large shareholder exits weigh on short-term sentiment. Warren Buffett Wrapped Up His Illustrious Investing Career by Selling 50% of His Bank of America Stake and Piling Around $1.2 Billion Into This Scorching-Hot Oil Stock
• Negative Sentiment: Sector-wide pressure from renewed rate volatility, heavy Treasury issuance and lingering regulatory/capital buffer concerns has driven a bank selloff; BAC’s sensitivity to net interest income assumptions and recent insider/institutional sales magnify downside when investors rotate out of financials. Bank of America falls as rate volatility and sector-wide risk-off sentiment pressure bank shares

Analysts Set New Price Targets

A number of analysts have recently commented on BAC shares. Keefe, Bruyette & Woods reduced their price target on shares of Bank of America from $64.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Piper Sandler increased their price objective on shares of Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. Daiwa Securities Group dropped their target price on shares of Bank of America from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, January 27th. Oppenheimer lifted their target price on shares of Bank of America from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Finally, Evercore set a $59.00 target price on shares of Bank of America in a research note on Thursday, January 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.30.

Bank of America Price Performance

Shares of NYSE:BAC opened at $46.72 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $335.32 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. The firm’s 50 day moving average price is $52.52 and its 200-day moving average price is $52.45. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $57.55.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $27.73 billion. During the same period in the previous year, the business posted $0.82 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities research analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.4%. Bank of America’s payout ratio is presently 29.24%.

Insider Transactions at Bank of America

In related news, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the transaction, the insider directly owned 170,184 shares in the company, valued at approximately $7,988,436.96. The trade was a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the sale, the insider directly owned 227,973 shares of the company’s stock, valued at $11,357,614.86. This represents a 17.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 227,832 shares of company stock worth $11,094,960 in the last three months. Corporate insiders own 0.30% of the company’s stock.

Bank of America Company Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.