Bank of America (NYSE:BAC) Shares Unloaded Rep. Bruce Westerman

Representative Bruce Westerman (R-Arkansas) recently sold shares of Bank of America Co. NYSE: BAC. In a filing disclosed on May 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in Bank of America stock on April 21st. The trade occurred in the Representative's "FISHER IRA" account.

Representative Bruce Westerman also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of UniCredit OTCMKTS: UNCRY on 4/21/2025.
• Sold $1,001 - $15,000 in shares of CSX NASDAQ: CSX on 4/21/2025.
• Sold $1,001 - $15,000 in shares of Siemens Aktiengesellschaft OTCMKTS: SIEGY on 4/21/2025.
• Sold $1,001 - $15,000 in shares of GSK NYSE: GSK on 4/21/2025.
• Sold $1,001 - $15,000 in shares of Charles Schwab NYSE: SCHW on 4/21/2025.
• Sold $1,001 - $15,000 in shares of The Goldman Sachs Group NYSE: GS on 4/21/2025.
• Sold $1,001 - $15,000 in shares of Abbott Laboratories NYSE: ABT on 4/21/2025.
• Sold $1,001 - $15,000 in shares of Eli Lilly and Company NYSE: LLY on 4/21/2025.
• Sold $15,001 - $50,000 in shares of NVIDIA NASDAQ: NVDA on 4/21/2025.
• Sold $1,001 - $15,000 in shares of Chevron NYSE: CVX on 4/21/2025.

Bank of America Trading Up 0.6%

Shares of Bank of America stock traded up $0.28 during trading on Friday, reaching $44.66. 49,375,450 shares of the stock were exchanged, compared to its average volume of 39,687,873. The stock's fifty day moving average is $40.03 and its 200 day moving average is $43.55. Bank of America Co. has a 1 year low of $33.07 and a 1 year high of $48.08. The firm has a market cap of $336.38 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth 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 issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. The business had revenue of $27.37 billion for the quarter, compared to analysts' expectations 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 research analysts expect that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a $0.26 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.33%. Bank of America's dividend payout ratio is presently 30.95%.

Institutional Trading of Bank of America

A number of institutional investors have recently added to or reduced their stakes in BAC. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bank of America by 4.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,940,121 shares of the financial services provider's stock valued at $173,168,000 after purchasing an additional 173,021 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $60,679,000. Arizona State Retirement System boosted its holdings 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 acquiring an additional 10,377 shares in the last quarter. Keybank National Association OH boosted its holdings 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 acquiring an additional 38,258 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake 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 purchasing an additional 297,858 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Robert W. Baird upgraded shares of Bank of America from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $45.00 to $50.00 in a research note on Friday, March 7th. Phillip Securities raised shares of Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. decreased their target price on shares of Bank of America from $49.50 to $43.50 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Truist Financial dropped their price objective on shares of Bank of America from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Citigroup lowered their price objective on shares of Bank of America from $54.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of America presently has a consensus rating of "Moderate Buy" and an average target price of $47.50.

About Representative Westerman

Bruce Westerman (Republican Party) is a member of the U.S. House, representing Arkansas' 4th Congressional District. He assumed office on January 3, 2015. His current term ends on January 3, 2027. Westerman (Republican Party) is running for re-election to the U.S. House to represent Arkansas' 4th Congressional District. He declared candidacy for the 2026 election. Westerman earned his BSBAGE in biological and agricultural engineering from the University of Arkansas in 1990 and his MF in forestry from Yale University in 2001. His professional experience includes working as a plant engineer for Riceland Foods and an engineer/forester for Mid-South Engineering Company.

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.