Rep. Jefferson Shreve Sells Bank of America Co. (NYSE:BAC) Stock

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

Bank of America stock traded up $1.64 during midday trading on Monday, reaching $43.43. The stock had a trading volume of 28,588,222 shares, compared to its average volume of 39,309,105. Bank of America Co. has a 12 month low of $33.07 and a 12 month high of $48.08. The firm's 50-day moving average price is $39.69 and its 200 day moving average price is $43.49. The firm has a market capitalization of $327.07 billion, a PE ratio of 13.48, a P/E/G ratio of 1.21 and a beta of 1.27. 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 (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $27.37 billion for the quarter, compared to analysts' expectations of $26.83 billion. As a group, research analysts predict that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Friday, June 6th. Bank of America's payout ratio is 30.95%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 purchasing an additional 173,021 shares during the last quarter. OFI Invest Asset Management purchased a new position in Bank of America in the fourth quarter worth about $60,679,000. Arizona State Retirement System boosted its position in 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 purchasing an additional 10,377 shares during the last quarter. Keybank National Association OH boosted its position in 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 purchasing an additional 38,258 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in 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 purchasing an additional 297,858 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of research reports. Keefe, Bruyette & Woods lowered their price objective on Bank of America from $55.00 to $52.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler reduced their target price on Bank of America from $45.00 to $42.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Royal Bank of Canada reduced their target price on Bank of America from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. UBS Group lifted their target price on Bank of America from $46.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Finally, Cfra Research lifted their target price on Bank of America to $47.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $47.25.

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.