Pinnacle Associates Ltd. Reduces Stake in Bank of America

Investment firm decreases holdings in financial services provider by 2.4% in third quarter

Published on Mar. 8, 2026

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Pinnacle Associates Ltd. decreased its holdings in shares of Bank of America Corporation (NYSE:BAC) by 2.4% during the 3rd quarter, according to the company's recent Form 13F filing with the Securities and Exchange Commission. The fund owned 899,808 shares of the financial services provider's stock, valued at $46,421,000 as of the filing.

Why it matters

This filing provides insight into the investment decisions and portfolio changes of Pinnacle Associates Ltd., a notable institutional investor. Tracking the activities of large investors can offer clues about market sentiment and potential future stock performance.

The details

Pinnacle Associates Ltd. sold 22,008 shares of Bank of America stock during the third quarter, reducing its total position to 899,808 shares. The firm cited the 2.4% decrease in its holdings of the financial services company's stock.

  • Pinnacle Associates Ltd. filed its 13F report for the 3rd quarter of the year.

The players

Pinnacle Associates Ltd.

An investment management firm that decreased its holdings in Bank of America Corporation.

Bank of America Corporation

A multinational financial services company headquartered in Charlotte, North Carolina.

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The takeaway

This filing indicates that Pinnacle Associates Ltd. made a strategic decision to reduce its exposure to Bank of America during the third quarter, potentially signaling a shift in the firm's investment outlook on the financial services sector or the company specifically.