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

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

Shares of BAC stock opened at $37.44 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The business has a fifty day moving average of $41.46 and a 200 day moving average of $43.60. The firm has a market capitalization of $284.65 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24. Bank of America Co. has a 1 year low of $33.07 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, topping 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 firm had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. As a group, research analysts expect that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of Bank of America by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 142,289,199 shares of the financial services provider’s stock worth $6,243,000,000 after purchasing an additional 2,033,229 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Bank of America by 10.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 122,437,422 shares of the financial services provider’s stock worth $5,381,126,000 after acquiring an additional 11,691,451 shares in the last quarter. Norges Bank acquired a new position in Bank of America in the 4th quarter valued at about $5,226,989,000. Capital World Investors boosted its stake in shares of Bank of America by 23.9% in the fourth quarter. Capital World Investors now owns 88,210,527 shares of the financial services provider’s stock valued at $3,876,853,000 after purchasing an additional 17,031,143 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Bank of America by 17.2% in the fourth quarter. Northern Trust Corp now owns 67,935,940 shares of the financial services provider’s stock valued at $2,985,785,000 after purchasing an additional 9,980,859 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BAC. Robert W. Baird upgraded shares of Bank of America from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $45.00 to $50.00 in a research note on Friday, March 7th. Evercore ISI reduced their price objective on Bank of America from $51.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Argus dropped their price target on shares of Bank of America from $53.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Bank of America from $49.50 to $43.50 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Finally, Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target 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.