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 Up 0.3 %

Bank of America stock traded up $0.11 during mid-day trading on Friday, hitting $37.44. 47,052,978 shares of the company’s stock were exchanged, compared to its average volume of 39,148,499. Bank of America Co. has a 1-year low of $33.07 and a 1-year high of $48.08. The stock has a 50 day moving average of $41.46 and a two-hundred 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. The stock has a market cap of $284.65 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.21 and a beta of 1.24.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $26.83 billion. As a group, analysts anticipate that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Friday, March 7th. Bank of America’s payout ratio is presently 30.95%.

Institutional Investors Weigh In On Bank of America

Several hedge funds and other institutional investors have recently made changes to their positions in BAC. Principal Financial Group Inc. boosted its stake in Bank of America by 3.8% in the third quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider’s stock valued at $611,692,000 after acquiring an additional 569,385 shares during the last quarter. Morse Asset Management Inc acquired a new stake in shares of Bank of America during the third quarter worth $306,000. SkyView Investment Advisors LLC increased its holdings in Bank of America by 4.3% in the third quarter. SkyView Investment Advisors LLC now owns 15,602 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 645 shares during the last quarter. Tudor Financial Inc. acquired a new position in shares of Bank of America during the 3rd quarter worth about $645,000. Finally, Eaton Financial Holdings Company LLC acquired a new stake in shares of Bank of America in the 3rd quarter valued at approximately $488,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BAC shares. Robert W. Baird upgraded shares of Bank of America from a “neutral” rating to an “outperform” rating and upped their price target for the company from $45.00 to $50.00 in a report on Friday, March 7th. Oppenheimer increased their price objective on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Barclays dropped their target price on shares of Bank of America from $58.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday. Evercore ISI decreased their price target on shares of Bank of America from $51.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 1st. Finally, HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and an average target price of $47.20.

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.