Rep. Julie Johnson Sells Off Shares of Bank of America Corporation (NYSE:BAC)

Key Points

• Representative Julie Johnson of Texas sold shares of Bank of America Corporation (NYSE:BAC) valued between $1,001 and $15,000 on August 14th.
• Bank of America's stock price is currently around $50.60, with a market capitalization of $374.79 billion and a PE ratio of 14.80.
• The company announced a quarterly dividend increase to $0.28 per share, reflecting a dividend yield of 2.2%.

Representative Julie Johnson (D-Texas) recently sold shares of Bank of America Corporation NYSE: BAC. In a filing disclosed on September 11th, the Representative disclosed that they had sold between $1,001 and $15,000 in Bank of America stock on August 14th. The trade occurred in the Representative's "CHASE BROKERAGE ACCOUNT (3935)" account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of McDonald's NYSE: MCD on 8/14/2025.
• Sold $1,001 - $15,000 in shares of Eli Lilly and Company NYSE: LLY on 8/14/2025.
• Sold $1,001 - $15,000 in shares of Arthur J. Gallagher & Co. NYSE: AJG on 8/14/2025.
• Sold $1,001 - $15,000 in shares of Parker-Hannifin NYSE: PH on 8/14/2025.
• Sold $1,001 - $15,000 in shares of Charles Schwab NYSE: SCHW on 8/14/2025.
• Sold $1,001 - $15,000 in shares of Fidelity National Information Services NYSE: FIS on 8/14/2025.
• Sold $1,001 - $15,000 in shares of ConocoPhillips NYSE: COP on 8/14/2025.
• Sold $1,001 - $15,000 in shares of Home Depot NYSE: HD on 8/14/2025.
• Sold $1,001 - $15,000 in shares of Dover NYSE: DOV on 8/14/2025.
• Sold $1,001 - $15,000 in shares of UnitedHealth Group NYSE: UNH on 8/14/2025.

Bank of America Price Performance

NYSE:BAC traded down $0.15 during mid-day trading on Friday, hitting $50.60. 27,849,333 shares of the stock traded hands, compared to its average volume of 35,317,604. The business's 50-day moving average price is $48.13 and its 200 day moving average price is $44.28. The company has a market cap of $374.79 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 1.96 and a beta of 1.34. Bank of America Corporation has a 12-month low of $33.06 and a 12-month high of $50.96. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 1.14.

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 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. The company had revenue of ($22,273.00) million during the quarter, compared to analysts' expectations of $26.79 billion. Bank of America had a net margin of 14.81% and a return on equity of 10.25%. Bank of America's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 earnings per share. On average, analysts expect that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be paid a dividend of $0.28 per share. This is an increase from Bank of America's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, September 5th. Bank of America's dividend payout ratio is presently 32.75%.

Bank of America declared that its Board of Directors has approved a stock repurchase plan on Wednesday, July 23rd that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 11.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider James P. Demare sold 148,391 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $45.57, for a total value of $6,762,177.87. Following the completion of the transaction, the insider directly owned 223,407 shares in the company, valued at $10,180,656.99. This trade represents a 39.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Robert W. Baird reaffirmed a "neutral" rating and set a $52.00 price objective on shares of Bank of America in a research note on Friday, June 27th. Phillip Securities cut shares of Bank of America from a "strong-buy" rating to a "moderate buy" rating in a research note on Friday, July 25th. Oppenheimer boosted their price target on shares of Bank of America from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Morgan Stanley boosted their price target on shares of Bank of America from $47.00 to $49.00 and gave the stock an "overweight" rating in a research note on Monday, June 23rd. Finally, HSBC cut shares of Bank of America from a "buy" rating to a "hold" rating and boosted their price target for the stock from $47.00 to $51.00 in a research note on Monday, July 7th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $50.39.

Institutional Investors Weigh In On Bank of America

A number of institutional investors have recently made changes to their positions in BAC. Norges Bank bought a new position in Bank of America in the 2nd quarter worth $5,091,641,000. Deutsche Bank AG raised its holdings in Bank of America by 45.1% in the 1st quarter. Deutsche Bank AG now owns 48,112,090 shares of the financial services provider's stock worth $2,007,718,000 after purchasing an additional 14,960,086 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Bank of America by 124.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider's stock worth $833,771,000 after purchasing an additional 9,782,208 shares in the last quarter. Theleme Partners LLP bought a new position in Bank of America in the 4th quarter worth $263,449,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Bank of America by 12.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,092,517 shares of the financial services provider's stock valued at $1,981,816,000 after buying an additional 5,092,504 shares during the period. Hedge funds and other institutional investors own 70.71% of the company's stock.

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas' 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027. Johnson (Democratic Party) ran for election to the U.S. House to represent Texas' 32nd Congressional District. She won in the general election on November 5, 2024. Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson's career experience includes working as an attorney.

About Bank of America

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.

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