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

Representative Jefferson Shreve (R-Indiana) recently sold shares of Bank of America Corporation NYSE: BAC. In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $15,001 and $50,000 in Bank of America stock on May 12th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

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

• Sold $15,001 - $50,000 in shares of Hubbell NYSE: HUBB on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Trane Technologies NYSE: TT on 5/12/2025.
• Sold $15,001 - $50,000 in shares of RTX NYSE: RTX on 5/12/2025.
• Sold $50,001 - $100,000 in shares of NiSource NYSE: NI on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Johnson & Johnson NYSE: JNJ on 5/12/2025.
• Sold $15,001 - $50,000 in shares of AppLovin NASDAQ: APP on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Fiserv NYSE: FI on 5/12/2025.
• Sold $15,001 - $50,000 in shares of CNO Financial Group NYSE: CNO on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Cboe Global Markets NASDAQ: CBOE on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Lam Research NASDAQ: LRCX on 5/12/2025.

Bank of America Price Performance

Shares of Bank of America stock traded up $0.08 during trading on Friday, reaching $48.47. 24,453,044 shares of the company's stock were exchanged, compared to its average volume of 43,373,284. 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 Corporation has a 1-year low of $33.06 and a 1-year high of $49.31. The company has a market cap of $365.09 billion, a P/E ratio of 14.17, a PEG ratio of 1.88 and a beta of 1.30. The firm's 50-day moving average price is $45.91 and its 200 day moving average price is $43.75.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. The business had revenue of ($22,273.00) million for the quarter, compared to analyst estimates of $26.79 billion. Bank of America had a return on equity of 10.25% and a net margin of 14.81%. Bank of America's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. As a group, research analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America declared that its board has approved a share repurchase program on Wednesday, July 23rd that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 11.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Bank of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from Bank of America's previous quarterly dividend of $0.26. Bank of America's payout ratio is 30.41%.

Analyst Ratings Changes

BAC has been the topic of a number of research reports. Keefe, Bruyette & Woods reduced their price objective on Bank of America from $55.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Morgan Stanley increased 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. Baird R W lowered Bank of America from a "strong-buy" rating to a "hold" rating in a report on Friday, June 27th. Phillip Securities raised Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. lowered their price objective on Bank of America from $49.50 to $43.50 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.03.

Institutional Trading of Bank of America

Large investors have recently modified their holdings of the business. Nova Wealth Management Inc. boosted its position in Bank of America by 75.2% during the 2nd quarter. Nova Wealth Management Inc. now owns 529 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 227 shares in the last quarter. Graney & King LLC bought a new stake in Bank of America during the 4th quarter valued at approximately $25,000. RMG Wealth Management LLC bought a new stake in Bank of America during the 2nd quarter valued at approximately $28,000. Fairway Wealth LLC bought a new stake in Bank of America during the 4th quarter valued at approximately $29,000. Finally, Vega Investment Solutions bought a new stake in Bank of America during the 4th quarter valued at approximately $30,000. 70.71% of the stock is owned by 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.