Evergreen Capital Management 13F: Cuts BAC Stake by $2.8M
Key Points
- Evergreen Capital Management cut its stake by 13.1% during the quarter, ending with 345,563 shares worth about $18.8 million.
- Bank of America recently traded around $50.77, sitting below its 50-day moving average of $57.99.
- Several company officers executed stock sales earlier in the year ahead of the filing.
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Evergreen Capital Management cut its stake in Bank of America Corporation NYSE:BAC by 13.1% during the third quarter, according to a Form 13F filing disclosed on October 23, 2026. The filing shows the fund sold 52,159 shares, leaving it with 345,563 shares valued at roughly $18.8 million.
BAC
Bank of America Corporation
What Changed in Evergreen Capital Management's Bank of America Position
Evergreen Capital Management trimmed its holdings from 397,722 shares down to 345,563 shares. The reduction in shares left the total value of the investment at $18,808,971 as of the filing date.
Other Institutional Activity in Bank of America
Other large funds also adjusted their positions in the financial institution recently. Sumitomo Mitsui DS Asset Management Company lowered its holdings by 80,126 shares to end with 1,385,321 shares worth about $75.4 million. Mondrian Investment Partners cut its stake by 1,118,765 shares, finishing with 1,296,153 shares valued at approximately $70.5 million. Berkshire Hathaway, Inc reduced its massive holding by 30,253,860 shares, leaving it with 483,394,015 shares worth about $24.4 billion.
Bank of America Corporation Stock Holds Steady
Bank of America shares closed at $50.56 on October 23, 2026, and recently traded around $50.77 as of October 24, 2026. The stock sits below its 50-day moving average of $57.99 and below its 200-day moving average of $55.08. Over the past year, shares have moved between a low of $46.12 and a high of $65.23.
Recent Earnings
Bank of America reported trailing twelve-month revenue of $114.9 billion alongside trailing earnings of $4.19 per share. The company posted a net profit margin of 28.1% and a return on equity of 10.7%. Its next financial update is scheduled for January 15, 2027.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
6 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 8.6%. Revenue met estimates.
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Profit surprise
Operating income missed by 10 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
6 target raises.
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Earnings quality
Gross margin up 40.5 points. Operating margin up 17.1 points. Positive free cash flow.
Earnings Call Summary
Bank of America delivered strong first quarter results with revenue up seven percent year over year to thirty point three billion dollars and earnings per share up twenty five percent to one dollar and eleven cents. The bank benefited from robust client activity, improved efficiency with operating leverage of two hundred ninety basis points, and stable asset quality with provision expense down to one point three billion. Management highlighted strength across all business segments, particularly in investment banking which was up twenty one percent, equities trading which had its best quarter ever, and wealth management which showed solid client flows and margin improvement.
Guidance Bank of America raised its full year net interest income growth guidance to six to eight percent from prior expectations. The bank expects continued balanced loan and deposit growth to support this outlook, with net interest income already up nine percent year over year in the first quarter. Management noted that net interest income exceeded expectations at fifteen point nine billion dollars.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
The company pays an annual dividend of $1.28 per share, giving the stock a dividend yield of 2.51% with a payout ratio of 25.9%.
Insider Buying and Selling at Bank of America Corporation
Company insiders executed several stock sales earlier in the year. On March 5, 2026, officer Sheri B Bronstein sold 60,000 shares at an average price of $49.91 for a total value of about $3.0 million. On the same day, officer Thomas M Scrivener sold 50,000 shares at $49.82 for roughly $2.5 million. Later, on March 12, 2026, officer Bernard Amponsah Mensah sold 94,000 shares at $46.94 for about $4.4 million. Additionally, officer Geoffrey S Greener sold 126,756 shares on May 5, 2026, at an average price of $53.00 for a total of $6.7 million.
Analysts Set New Price Targets
Wall Street firms updated their views on the stock in mid-October 2026. Citigroup maintained a buy rating on October 15 while lowering its target to $60.00. Morgan Stanley kept an overweight rating with a target of $61.00. Truist Securities maintained a buy rating and set a $58.00 target. RBC Capital kept an outperform rating with a $60.00 target, and Barclays maintained an overweight rating with a target of $68.00. Overall, the stock holds a consensus strong buy rating with an average target price of $62.95 across 22 analyst opinions.
About Bank of America
Bank of America Corporation operates through subsidiaries to provide banking, investing, asset management, and other financial products to individual consumers, businesses, and institutional clients globally. It operates through consumer banking, wealth management, commercial banking, and global markets segments.
Bottom Line
Investors will watch the bank's next earnings report on January 15, 2027, for further details on operational performance. Institutional filings offer a look at how major managers handle their portfolios, though they reflect past holdings rather than active trades.
Related Filing Alerts
Source: Evergreen Capital Management's 13F filing on $BAC (Oct 23, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts