Rep. Bruce Westerman Sells Off Shares of Bank of America Co. (NYSE:BAC)

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 Price Performance

Shares of BAC stock traded up $0.28 during trading hours on Friday, hitting $44.66. The company's stock had a trading volume of 49,375,450 shares, compared to its average volume of 39,631,243. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a twelve month low of $33.07 and a twelve month high of $48.08. The business has a fifty day moving average of $39.93 and a 200-day moving average of $43.53. The stock has a market cap of $336.38 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results 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. The company had revenue of $27.37 billion for 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 research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders 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 dividend on an annualized basis and a yield of 2.33%. Bank of America's payout ratio is 30.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BAC shares. Baird R W upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Keefe, Bruyette & Woods lowered their price target on Bank of America from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Evercore ISI cut their price objective on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Piper Sandler lowered their target price on shares of Bank of America from $45.00 to $42.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, Oppenheimer increased their price target on shares of Bank of America from $50.00 to $51.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BAC. Geode Capital Management LLC boosted its position in shares of Bank of America by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 142,289,199 shares of the financial services provider's stock valued at $6,243,000,000 after purchasing an additional 2,033,229 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Bank of America by 10.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 122,437,422 shares of the financial services provider's stock worth $5,381,126,000 after buying an additional 11,691,451 shares during the period. Norges Bank purchased a new position in shares of Bank of America in the fourth quarter worth approximately $5,226,989,000. Capital World Investors raised its holdings in shares of Bank of America by 23.9% during the fourth quarter. Capital World Investors now owns 88,210,527 shares of the financial services provider's stock valued at $3,876,853,000 after acquiring an additional 17,031,143 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Bank of America by 17.2% in the fourth quarter. Northern Trust Corp now owns 67,935,940 shares of the financial services provider's stock worth $2,985,785,000 after buying an additional 9,980,859 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

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.