Richard Bernstein Advisors Reduces Bank of America Stake

Institutional investor sells 56,684 shares of financial services provider

Published on Mar. 10, 2026

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Richard Bernstein Advisors LLC, an institutional investor, reduced its stake in Bank of America Corporation (NYSE:BAC) by 47.4% in the third quarter. The firm now owns 62,873 shares of the financial services provider's stock, down from 119,557 shares previously.

Why it matters

This filing provides insight into the investment strategy and portfolio changes of Richard Bernstein Advisors, a prominent institutional investor. The reduction in Bank of America shares could signal a shift in the firm's outlook on the financial sector or the broader market.

The details

According to the filing with the Securities & Exchange Commission, Richard Bernstein Advisors sold 56,684 shares of Bank of America stock during the third quarter. The firm's holdings in the company are now valued at $3,244,000, down from $6,175,000 at the end of the prior quarter.

  • The transactions occurred during the third quarter of 2026.

The players

Richard Bernstein Advisors LLC

An institutional investment management firm that provides investment advisory services.

Bank of America Corporation

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

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The takeaway

This filing highlights the ongoing portfolio adjustments made by institutional investors like Richard Bernstein Advisors as they navigate the evolving financial landscape. The reduction in Bank of America shares could signal a broader shift in sentiment towards the banking sector or the market in general.