Bank of America (NYSE:BAC) Stock Acquired Rep. Bruce Westerman

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 Price Performance

BAC stock traded up $0.11 during trading on Friday, hitting $37.44. The company had a trading volume of 47,052,978 shares, compared to its average volume of 39,148,499. Bank of America Co. has a fifty-two week low of $33.07 and a fifty-two week high of $48.08. The firm has a market capitalization of $284.65 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 1.21 and a beta of 1.24. The business has a 50 day moving average of $41.46 and a 200 day moving average of $43.60. 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 (NYSE:BAC) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, topping 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 firm had revenue of $27.37 billion for the quarter, compared to analysts’ expectations of $26.83 billion. As a group, research analysts predict that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is 30.95%.

Analyst Upgrades and Downgrades

BAC has been the subject of several research reports. Keefe, Bruyette & Woods reduced their price objective on Bank of America from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Wednesday. Oppenheimer boosted their target price on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Cfra Research lifted their price target on Bank of America to $47.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada reduced their price objective on Bank of America from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and three have assigned 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 a consensus price target of $47.20.

Institutional Investors Weigh In On Bank of America

Several large investors have recently modified their holdings of the stock. Lederer & Associates Investment Counsel CA grew its position in Bank of America by 1.1% in the fourth quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock valued at $879,000 after acquiring an additional 217 shares during the period. Avalon Trust Co lifted its holdings in shares of Bank of America by 14.6% during the fourth quarter. Avalon Trust Co now owns 1,719 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 219 shares during the period. Prossimo Advisors LLC boosted its stake in shares of Bank of America by 2.5% in the 4th quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 220 shares in the last quarter. Marino Stram & Associates LLC grew its holdings in shares of Bank of America by 1.7% in the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock worth $580,000 after purchasing an additional 222 shares during the last quarter. Finally, Keudell Morrison Wealth Management increased its position in shares of Bank of America by 2.8% during the 4th quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock worth $364,000 after purchasing an additional 223 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

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.

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.