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

Representative Bruce Westerman (R-Arkansas) recently bought shares of Bank of America Co. NYSE: BAC. In a filing disclosed on April 16th, the Representative disclosed that they had bought between $1,001 and $15,000 in Bank of America stock on March 3rd. The trade occurred in the Representative's "FISHER IRA" account.

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

• Purchased $1,001 - $15,000 in shares of LVMH Moët Hennessy - Louis Vuitton, Société Européenne OTCMKTS: LVMUY on 4/2/2025.
• Purchased $1,001 - $15,000 in shares of Sony Group NYSE: SONY on 3/24/2025.
• Purchased $1,001 - $15,000 in shares of Mitsubishi UFJ Financial Group NYSE: MUFG on 3/21/2025.
• Purchased $1,001 - $15,000 in shares of BP NYSE: BP on 3/21/2025.
• Sold $1,001 - $15,000 in shares of Procter & Gamble NYSE: PG on 3/20/2025.
• Sold $1,001 - $15,000 in shares of Medtronic NYSE: MDT on 3/20/2025.
• Purchased $1,001 - $15,000 in shares of ASML NASDAQ: ASML on 3/20/2025.
• Sold $1,001 - $15,000 in shares of Visa NYSE: V on 3/20/2025.
• Sold $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 3/20/2025.
• Sold $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 3/20/2025.

Bank of America Stock Performance

Bank of America stock traded up $1.03 during mid-day trading on Tuesday, reaching $37.95. 9,562,871 shares of the company traded hands, compared to its average volume of 38,928,451. The company has a market capitalization of $288.50 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a fifty-two week low of $33.07 and a fifty-two week high of $48.08. The firm's fifty day moving average is $41.09 and its two-hundred day moving average is $43.63.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. On average, equities research analysts expect that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Friday, March 7th. Bank of America's dividend payout ratio (DPR) is presently 30.95%.

Institutional Trading of Bank of America

Institutional investors have recently made changes to their positions in the company. Graney & King LLC acquired a new position in shares of Bank of America in the 4th quarter valued at $25,000. Collier Financial acquired a new stake in shares of Bank of America during the fourth quarter valued at about $25,000. Fairway Wealth LLC purchased a new position in shares of Bank of America during the 4th quarter worth approximately $29,000. Vega Investment Solutions purchased a new stake in Bank of America in the fourth quarter valued at approximately $30,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Bank of America during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 70.71% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Bank of America from $49.50 to $43.50 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods decreased their target price on shares of Bank of America from $55.00 to $52.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Hsbc Global Res raised Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. Citigroup decreased their price objective on Bank of America from $54.00 to $50.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Royal Bank of Canada decreased their price target on Bank of America from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. 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 assigned a strong buy rating to the stock. According to MarketBeat, Bank of America presently has an average rating of "Moderate Buy" and a consensus price target of $47.43.

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.