Persistent Asset Partners Ltd significantly reduced its stake in Bank of America Corporation (NYSE:BAC) by 51.6% during the third quarter, selling 9,687 shares and now owning 9,091 shares valued at $469,000. Despite this reduction, several other institutional investors increased their holdings, while Bank of America announced a quarterly dividend of $0.28 per share and analysts adjusted price targets, leading to an average “Moderate Buy” rating for the stock. The article also highlights recent positive and negative news impacting BAC, including a new rewards program, potential regulatory easing, and concerns about private-credit commitments and Warren Buffett’s trimmed position.
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Persistent Asset Partners Ltd Decreases Position in Bank of America Corporation $BAC
Persistent Asset Partners Ltd significantly reduced its stake in Bank of America Corporation (NYSE:BAC) by 51.6% during the third quarter, selling 9,687 shares and now owning 9,091 shares valued at $469,000. Despite this reduction, several other institutional investors increased their holdings, while Bank of America announced a quarterly dividend of $0.28 per share and analysts adjusted price targets, leading to an average “Moderate Buy” rating for the stock. The article also highlights recent positive and negative news impacting BAC, including a new rewards program, potential regulatory easing, and concerns about private-credit commitments and Warren Buffett’s trimmed position.