Bank of America (NYSE:BAC) Shares Sold by Rep. Laurel M. Lee

Representative Laurel M. Lee (Republican-Florida) recently sold shares of Bank of America Corporation (NYSE:BAC). In a filing disclosed on October 16th, the Representative disclosed that they had sold between $50,001 and $100,000 in Bank of America stock on August 24th.

Bank of America Price Performance

Shares of Bank of America stock opened at $50.59 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50 day simple moving average of $58.52 and a two-hundred day simple moving average of $56.77. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.22. The stock has a market capitalization of $353.77 billion, a P/E ratio of 12.02, a PEG ratio of 0.86 and a beta of 1.21.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.02). The company had revenue of $29.96 billion during the quarter, compared to analysts’ expectations of $30.58 billion. Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 earnings per share. As a group, analysts predict that Bank of America Corporation will post 4.54 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, September 4th. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s payout ratio is presently 30.40%.

Analyst Ratings Changes

BAC has been the topic of a number of research reports. HSBC initiated coverage on shares of Bank of America in a report on Monday, September 28th. They set a “buy” rating and a $65.00 target price on the stock. Argus set a $70.00 price objective on shares of Bank of America in a report on Wednesday, July 15th. Citigroup decreased their price objective on shares of Bank of America from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, October 15th. Wells Fargo & Company dropped their price objective on Bank of America from $69.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, October 15th. Finally, Royal Bank Of Canada dropped their target price on shares of Bank of America from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Twenty analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.82.

Institutional Investors Weigh In On Bank of America

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc purchased a new stake in shares of Bank of America during the second quarter worth about $2,571,060,000. Amundi increased its holdings in shares of Bank of America by 12.5% in the first quarter. Amundi now owns 42,385,115 shares of the financial services provider’s stock valued at $2,066,274,000 after purchasing an additional 4,721,969 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of Bank of America in the second quarter valued at about $2,359,172,000. Bank of New York Mellon Corp purchased a new stake in shares of Bank of America in the 2nd quarter valued at approximately $2,313,953,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Bank of America by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider’s stock valued at $1,517,599,000 after purchasing an additional 561,413 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Key Headlines Impacting Bank of America

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Bank of America’s second-quarter average loans rose 8% year over year while deposits increased 2%. Despite the uneven growth, net interest income climbed 9%, suggesting the bank is generating stronger returns from its deposit base and lending franchise. Bank of America Deposit Franchise Article
• Positive Sentiment: Bank of America was upgraded to a Buy rating by JLPascual. Other recent commentary indicated that the previously announced regulatory fine and earnings-related weakness may already be reflected in the stock, supporting the potential for a recovery. Bank of America Buy Upgrade
• Neutral Sentiment: The bank launched another investment-grade bond offering, including perpetual notes, shortly after raising $8 billion. The issuance may strengthen funding and capital flexibility, although it also adds financing costs and highlights continued reliance on wholesale markets. Bank of America Bond Sale
• Neutral Sentiment: Bank of America disclosed higher indirect stakes in Qiagen, ICU Girişim Sermayesi and Link Bilgisayar. These appear to be investment or regulatory ownership disclosures rather than changes to the core banking business. Qiagen Stake Disclosure
• Negative Sentiment: Multiple law firms announced or promoted securities-fraud investigations and class actions tied to alleged investor misstatements concerning anti-money-laundering and sanctions-compliance failures. The litigation follows more than $1.2 billion in federal penalties and creates potential legal costs and reputational damage. BAC Securities Class Action Alert
• Negative Sentiment: The latest reported quarter missed consensus estimates on both earnings and revenue, while broad bank stocks remain under pressure from rising Treasury yields and uncertainty over Federal Reserve policy. Bank Stocks Under Pressure

About Representative Lee

Laurel Lee (Republican Party) is a member of the U.S. House, representing Florida’s 15th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2027.

Lee (Republican Party) is running for re-election to the U.S. House to represent Florida’s 15th Congressional District. She declared candidacy for the 2026 election.

Laurel Lee earned undergraduate and law degrees from the University of Florida. Lee’s career experience includes working as an attorney with Carlton Fields, P.A., an assistant federal public defender and assistant U.S. attorney with the United States District Court for the Middle District of Florida, and a law clerk to James S. Moody on the United States District Court for the Middle District of Florida. Lee resigned on May 16, 2022.

About Bank of America

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.