Rep. George Whitesides Sells Off Shares of Bank of America Co. (NYSE:BAC)

Representative George Whitesides (D-California) recently sold shares of Bank of America Co. NYSE: BAC. In a filing disclosed on April 23rd, the Representative disclosed that they had sold between $15,001 and $50,000 in Bank of America stock on March 24th. The trade occurred in the Representative's "GEORGE WHITESIDES INDIVIDUAL" account.

Representative George Whitesides also recently made the following trade(s):

• Sold $100,001 - $250,000 in shares of Netflix NASDAQ: NFLX on 3/27/2025.
• Sold $250,001 - $500,000 in shares of Innoviva NASDAQ: INVA on 3/25/2025.
• Sold $50,001 - $100,000 in shares of Union Pacific NYSE: UNP on 3/24/2025.
• Sold $100,001 - $250,000 in shares of Linde NASDAQ: LIN on 3/24/2025.
• Sold $100,001 - $250,000 in shares of Procter & Gamble NYSE: PG on 3/24/2025.
• Sold $1,001 - $15,000 in shares of Sandoz Group OTCMKTS: SDZNY on 3/24/2025.
• Sold $15,001 - $50,000 in shares of American Electric Power NASDAQ: AEP on 3/24/2025.
• Sold $50,001 - $100,000 in shares of Medtronic NYSE: MDT on 3/24/2025.
• Sold $100,001 - $250,000 in shares of McDonald's NYSE: MCD on 3/24/2025.
• Sold $15,001 - $50,000 in shares of Diageo NYSE: DEO on 3/24/2025.

Bank of America Price Performance

BAC stock traded up $0.22 during midday trading on Tuesday, hitting $40.00. The company's stock had a trading volume of 33,781,321 shares, compared to its average volume of 39,181,918. Bank of America Co. has a 12 month low of $33.07 and a 12 month high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $304.11 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24. The company has a 50 day moving average of $40.25 and a two-hundred day moving average of $43.56.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) 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 return on equity of 10.29% and a net margin of 14.10%. On average, analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.60%. Bank of America's dividend payout ratio (DPR) is presently 30.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BAC. Citigroup lowered their target price on shares of Bank of America from $54.00 to $50.00 and set a "buy" rating for the company in a report on Monday, March 24th. 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. Oppenheimer boosted their price objective 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. Phillip Securities upgraded shares of Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th. Finally, Hsbc Global Res upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.25.

Institutional Trading of Bank of America

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

About Representative Whitesides

George Whitesides (Democratic Party) is a member of the U.S. House, representing California's 27th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Whitesides (Democratic Party) ran for election to the U.S. House to represent California's 27th Congressional District. He won in the general election on November 5, 2024. George Whitesides earned a bachelor's degree in public and international affairs from Princeton University in 1996 and a master's degree in remote sensing and GIS from the University of Cambridge in 2000. His career experience includes working as the chief of staff for NASA during the administration of President Barack Obama (D) and the CEO of human spaceflight company Virgin Galactic. Whitesides co-founded Megafire Action, an organization dedicated to responding to wildfires. Whitesides co-chaired the Antelope Valley Covid-19 Task Force and joined the Antelope Valley Economic Development and Growth Enterprise (AV EDGE) as a board member.

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.