Representative Lisa C. McClain (R-Michigan) recently bought shares of Bank of America Corporation NYSE: BAC. In a filing disclosed on August 13th, the Representative disclosed that they had bought between $1,001 and $15,000 in Bank of America stock on June 17th. The trade occurred in the Representative's "CHARLES SCHWAB BROKERAGE ACCOUNT 924" account.
Representative Lisa C. McClain also recently made the following trade(s):
- Sold $1,001 - $15,000 in shares of Autoliv NYSE: ALV on 8/4/2025.
- Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 8/4/2025.
- Sold $1,001 - $15,000 in shares of Applied Materials NASDAQ: AMAT on 8/4/2025.
- Sold $1,001 - $15,000 in shares of Arthur J. Gallagher & Co. NYSE: AJG on 8/4/2025.
- Sold $1,001 - $15,000 in shares of SAP NYSE: SAP on 7/22/2025.
- Purchased $1,001 - $15,000 in shares of XPO NYSE: XPO on 7/22/2025.
- Purchased $1,001 - $15,000 in shares of Lithia Motors NYSE: LAD on 7/22/2025.
- Sold $1,001 - $15,000 in shares of Sanofi NASDAQ: SNY on 7/22/2025.
- Sold $1,001 - $15,000 in shares of Waters NYSE: WAT on 7/22/2025.
- Purchased $1,001 - $15,000 in shares of Group 1 Automotive NYSE: GPI on 7/22/2025.
Bank of America Stock Performance
Shares of BAC stock traded up $1.2250 during mid-day trading on Friday, reaching $49.4850. The stock had a trading volume of 45,055,019 shares, compared to its average volume of 32,182,988. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 1.14. The firm has a market cap of $366.53 billion, a PE ratio of 14.47, a P/E/G ratio of 1.87 and a beta of 1.31. Bank of America Corporation has a one year low of $33.06 and a one year high of $49.66. The firm's 50 day simple moving average is $47.06 and its 200 day simple moving average is $43.86.
Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.86 by $0.03. Bank of America had a return on equity of 10.25% and a net margin of 14.81%.The business had revenue of ($22,273.00) million during the quarter, compared to the consensus estimate of $26.79 billion. During the same quarter last year, the company earned $0.83 EPS. Bank of America's revenue was up 4.3% on a year-over-year basis. On average, analysts forecast that Bank of America Corporation will post 3.7 EPS for the current year.
Bank of America announced that its Board of Directors has approved a share buyback program on Wednesday, July 23rd that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 11.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.
Bank of America Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be given a $0.28 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Bank of America's previous quarterly dividend of $0.26. Bank of America's dividend payout ratio is 30.41%.
Insider Buying and Selling at Bank of America
In related news, insider James P. Demare sold 148,391 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $45.57, for a total transaction of $6,762,177.87. Following the sale, the insider owned 223,407 shares of the company's stock, valued at $10,180,656.99. This trade represents a 39.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Bank of America
A number of large investors have recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock valued at $4,785,000 after purchasing an additional 25,143 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of Bank of America by 35.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 860,005 shares of the financial services provider's stock valued at $37,797,000 after acquiring an additional 226,246 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in shares of Bank of America by 5.3% during the 4th quarter. CreativeOne Wealth LLC now owns 109,163 shares of the financial services provider's stock valued at $4,798,000 after acquiring an additional 5,462 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in shares of Bank of America by 14.8% during the 4th quarter. Belpointe Asset Management LLC now owns 47,324 shares of the financial services provider's stock valued at $1,928,000 after acquiring an additional 6,088 shares in the last quarter. Finally, LaSalle St. Investment Advisors LLC acquired a new stake in shares of Bank of America during the 4th quarter valued at $208,000. Institutional investors own 70.71% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the company. Wall Street Zen downgraded Bank of America from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Truist Financial upped their price objective on Bank of America from $51.00 to $53.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group increased their price target on Bank of America from $46.00 to $52.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. HSBC cut Bank of America from a "buy" rating to a "hold" rating and increased their price target for the company from $47.00 to $51.00 in a research report on Monday, July 7th. Finally, Robert W. Baird reissued a "neutral" rating and set a $52.00 price target on shares of Bank of America in a research report on Friday, June 27th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $50.13.
Check Out Our Latest Analysis on BAC
About Representative McClain
Lisa McClain (Republican Party) is a member of the U.S. House, representing Michigan's 9th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2027.
McClain (Republican Party) is running for re-election to the U.S. House to represent Michigan's 9th Congressional District. She declared candidacy for the 2026 election.
Lisa McClain lives in Romeo, Michigan. McClain earned a bachelor's degree in business administration from Northwood University. Her career experience includes founding and working as the president of North End Support Team.
Bank of America Company Profile
(
Get Free Report)
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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