Bank of America (NYSE:BAC) Shares Unloaded Rep. Jefferson Shreve

Representative Jefferson Shreve (R-Indiana) 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 $50,001 and $100,000 in Bank of America stock on April 7th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $50,001 - $100,000 in shares of Chipotle Mexican Grill NYSE: CMG on 4/17/2025.
• Purchased $50,001 - $100,000 in shares of Applied Materials NASDAQ: AMAT on 4/17/2025.
• Purchased $15,001 - $50,000 in shares of Caterpillar NYSE: CAT on 4/17/2025.
• Sold $15,001 - $50,000 in shares of Lululemon Athletica NASDAQ: LULU on 4/17/2025.
• Purchased $15,001 - $50,000 in shares of Western Digital NASDAQ: WDC on 4/17/2025.
• Sold $15,001 - $50,000 in shares of Zoetis NYSE: ZTS on 4/17/2025.
• Purchased $15,001 - $50,000 in shares of Stryker NYSE: SYK on 4/17/2025.
• Purchased $15,001 - $50,000 in shares of NextEra Energy NYSE: NEE on 4/17/2025.
• Purchased $15,001 - $50,000 in shares of CSX NASDAQ: CSX on 4/17/2025.
• Purchased $15,001 - $50,000 in shares of Ross Stores NASDAQ: ROST on 4/17/2025.

Bank of America Stock Performance

BAC traded up $0.40 during trading on Wednesday, hitting $44.68. 13,561,781 shares of the company traded hands, compared to its average volume of 39,349,973. The firm has a market cap of $336.55 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The stock's fifty day moving average is $39.77 and its 200 day moving average is $43.51. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08.

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

Bank of America Announces Dividend

The business also recently declared 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 of this dividend is Friday, June 6th. This represents a $1.04 annualized dividend and a yield of 2.33%. Bank of America's payout ratio is currently 30.95%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BAC. Argus reduced their price objective on shares of Bank of America from $53.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Morgan Stanley lifted their price objective on shares of Bank of America from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. Evercore ISI reduced their price objective on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Royal Bank of Canada cut their price objective on shares of Bank of America from $50.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Finally, Baird R W upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $47.25.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Collier Financial purchased a new position in shares of Bank of America in the fourth quarter valued at about $25,000. Life Planning Partners Inc increased its position in shares of Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 545,936 shares during the period. Graney & King LLC purchased a new position in shares of Bank of America in the fourth quarter valued at about $25,000. Fairway Wealth LLC purchased a new position in Bank of America during the 4th quarter valued at $29,000. Finally, Vega Investment Solutions purchased a new position in Bank of America during the 4th quarter valued at $30,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

Bank of America Company Profile

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.