Representative Ritchie Torres (D-New York) recently sold shares of Bank of America Corporation NYSE: BAC. In a filing disclosed on August 20th, the Representative disclosed that they had sold between $1,001 and $15,000 in Bank of America stock on July 11th.
Representative Ritchie Torres also recently made the following trade(s):
- Sold $1,001 - $15,000 in shares of Equity Lifestyle Properties NYSE: ELS on 7/11/2025.
- Sold $1,001 - $15,000 in shares of Northrop Grumman NYSE: NOC on 7/11/2025.
- Sold $1,001 - $15,000 in shares of Emerson Electric NYSE: EMR on 7/11/2025.
- Sold $1,001 - $15,000 in shares of Kinder Morgan NYSE: KMI on 7/11/2025.
- Sold $1,001 - $15,000 in shares of MetLife NYSE: MET on 7/11/2025.
- Sold $1,001 - $15,000 in shares of Oracle NYSE: ORCL on 7/11/2025.
- Sold $1,001 - $15,000 in shares of Equity Residential NYSE: EQR on 7/11/2025.
- Sold $1,001 - $15,000 in shares of McKesson NYSE: MCK on 7/11/2025.
- Sold $1,001 - $15,000 in shares of Ares Management NYSE: ARES on 7/11/2025.
- Sold $1,001 - $15,000 in shares of Otis Worldwide NYSE: OTIS on 7/11/2025.
Bank of America Price Performance
Bank of America stock traded up $1.2250 during trading on Friday, reaching $49.4850. The company had a trading volume of 45,055,019 shares, compared to its average volume of 42,098,469. The firm's 50-day simple moving average is $46.95 and its 200 day simple moving average is $43.84. Bank of America Corporation has a 1-year low of $33.06 and a 1-year high of $49.66. The firm has a market capitalization of $366.53 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.88 and a beta of 1.31. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.79 and a current ratio of 0.80.
Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.03. Bank of America had a net margin of 14.81% and a return on equity of 10.25%. The firm had revenue of ($22,273.00) million for the quarter, compared to analysts' expectations of $26.79 billion. During the same quarter last year, the company earned $0.83 EPS. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.
Bank of America announced that its board has initiated a share repurchase plan on Wednesday, July 23rd that authorizes the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 11.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Bank of America Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.12 dividend on an annualized basis and a yield of 2.3%. This is an increase from Bank of America's previous quarterly dividend of $0.26. Bank of America's dividend payout ratio is 32.75%.
Insider Transactions at Bank of America
In other Bank of America news, insider James P. Demare sold 148,391 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $45.57, for a total transaction of $6,762,177.87. Following the sale, the insider directly owned 223,407 shares in the company, valued at $10,180,656.99. This represents a 39.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Baird R W lowered Bank of America from a "strong-buy" rating to a "hold" rating in a report on Friday, June 27th. TD Cowen started coverage on Bank of America in a report on Thursday, May 15th. They issued a "buy" rating and a $53.00 price objective on the stock. Hsbc Global Res lowered Bank of America from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Wall Street Zen lowered Bank of America from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Morgan Stanley lifted their price target on Bank of America from $47.00 to $49.00 and gave the stock an "overweight" rating in a report on Monday, June 23rd. Seventeen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $50.13.
Read Our Latest Report on Bank of America
Institutional Trading of Bank of America
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Carter Financial Group INC. purchased a new stake in Bank of America during the second quarter worth about $330,000. Stance Capital LLC purchased a new stake in Bank of America during the second quarter worth about $825,000. Cim Investment Management Inc. increased its stake in Bank of America by 99.7% during the second quarter. Cim Investment Management Inc. now owns 23,880 shares of the financial services provider's stock worth $1,090,000 after purchasing an additional 11,920 shares during the period. North Dallas Bank & Trust Co. purchased a new stake in Bank of America during the second quarter worth about $1,802,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Bank of America during the second quarter worth about $5,644,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.
About Representative Torres
Ritchie Torres (Democratic Party) is a member of the U.S. House, representing New York's 15th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2027.
Torres (Democratic Party) ran for re-election to the U.S. House to represent New York's 15th Congressional District. He won in the general election on November 5, 2024.
Ritchie Torres lives in the Bronx, New York.
Bank of America Company Profile
(
Get Free Report)
Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
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