Bank of America (NYSE:BAC) Stock Unloaded Rep. Robert Bresnahan, Jr.

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Bank of America Co. NYSE: BAC. In a filing disclosed on May 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in Bank of America stock on April 8th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/17/2025.
• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/16/2025.
• Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/10/2025.
• Sold $1,001 - $15,000 in shares of DexCom NASDAQ: DXCM on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Invesco NYSE: IVZ on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Generac NYSE: GNRC on 4/8/2025.
• Sold $15,001 - $50,000 in shares of Occidental Petroleum NYSE: OXY on 4/8/2025.
• Sold $15,001 - $50,000 in shares of Pfizer NYSE: PFE on 4/8/2025.
• Sold $1,001 - $15,000 in shares of QUALCOMM NASDAQ: QCOM on 4/8/2025.

Bank of America Trading Up 0.6%

Shares of Bank of America stock traded up $0.25 on Friday, hitting $41.85. 27,222,454 shares of the company's stock traded hands, compared to its average volume of 39,349,405. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The company has a fifty day moving average of $39.69 and a two-hundred day moving average of $43.49. The company has a market capitalization of $315.21 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $27.37 billion for the quarter, compared to analyst estimates of $26.83 billion. As a group, sell-side analysts expect that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.49%. Bank of America's payout ratio is 30.95%.

Institutional Trading of Bank of America

Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Bank of America by 4.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,940,121 shares of the financial services provider's stock worth $173,168,000 after buying an additional 173,021 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Bank of America in the fourth quarter worth $60,679,000. Arizona State Retirement System boosted its holdings in shares of Bank of America by 0.5% in the fourth quarter. Arizona State Retirement System now owns 2,028,439 shares of the financial services provider's stock worth $89,150,000 after acquiring an additional 10,377 shares during the period. Keybank National Association OH boosted its holdings in shares of Bank of America by 1.1% in the fourth quarter. Keybank National Association OH now owns 3,458,616 shares of the financial services provider's stock worth $152,006,000 after acquiring an additional 38,258 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Bank of America by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 42,929,896 shares of the financial services provider's stock worth $1,886,769,000 after acquiring an additional 297,858 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup cut their price target on Bank of America from $54.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Morgan Stanley increased their price target on Bank of America from $54.00 to $56.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. JPMorgan Chase & Co. cut their price target on Bank of America from $49.50 to $43.50 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. UBS Group increased their price target on Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Finally, Cfra Research increased their price target on Bank of America to $47.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $47.25.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About Bank of America

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.