Simon Quick Advisors 13F: Cuts BAC Stake by $25M
Key Points
- Simon Quick Advisors reduced its holdings in Bank of America by 452,912 shares, valued at approximately $24.7 million.
- The fund now holds about 60,473 shares, which represent 0.25% of its total reported 13F value of roughly $1.34 billion.
- Bank of America shares recently traded around $50.87, about 19.2% below the average analyst price target of $62.95.
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On October 26, 2026, Simon Quick Advisors cut its stake in Bank of America Corporation (BAC) by 452,912 shares, reducing its total holdings to 60,473 shares.
BAC
Bank of America Corporation
Where Bank of America Fits in Simon Quick Advisors' Portfolio
Simon Quick Advisors' remaining position in Bank of America now accounts for 0.25% of its total reported 13F value of about $1.34 billion.
Other Institutional Activity in Bank of America
Anderson Hoagland increased its holdings in Bank of America by 20,834 shares, bringing its total to 244,696 shares valued at about $12.5 million. Meanwhile, Berkshire Hathaway, Inc. reduced its stake by 30,253,860 shares, leaving it with 483,394,015 shares worth approximately $24.4 billion.
Bank of America Corporation Stock Up 0.6%
Bank of America shares recently traded around $50.87, which is about 19.2% below the average analyst price target of $62.95. The stock is also currently 22% below its 52-week high of $65.23 and 10.3% above its 52-week low of $46.12.
Recent Earnings
Bank of America reported trailing twelve-month revenue of approximately $114.9 billion, with a net margin of 28.1% and return on equity of 10.7%. The next earnings report is expected on 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
Bank of America pays an annual dividend of $1.28 per share, yielding about 2.53% with a payout ratio of 25.9%.
Insider Buying and Selling at Bank of America Corporation
Earlier this year, several insiders sold shares of Bank of America. Sheri B. Bronstein, an officer, sold 60,000 shares on March 5, 2026, at an average price of $49.91, totaling about $2.99 million. Thomas M. Scrivener also sold 50,000 shares on the same day at $49.82, worth about $2.49 million.
Analysts Set New Price Targets
On October 15, 2026, analysts from several firms maintained their ratings on Bank of America. Citigroup maintained a "Buy" rating with a price target of $60.00, while Morgan Stanley also kept an "Overweight" rating with a target of $61.00. The consensus recommendation remains a strong buy with a mean price target of approximately $62.95.
About Bank of America
Bank of America Corporation offers a wide range of financial products and services to individual consumers, small and middle-market businesses, and large corporations worldwide. Its diverse operations include consumer banking, wealth management, and global banking services.
Bottom Line
Investors should keep an eye on Bank of America's upcoming earnings on January 15, 2027, and watch for any further changes in institutional holdings. Simon Quick Advisors' recent filing reflects a significant reduction in its stake, indicating a shift in its investment strategy.
Related Filing Alerts
Source: Simon Quick Advisors's 13F filing on $BAC (Oct 26, 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