Rep. Jefferson Shreve Sells Off Bank of America Co. (NYSE:BAC) Shares

Representative Jefferson Shreve (R-Indiana) recently sold shares of Bank of America Co. (NYSE:BAC). In a filing disclosed on May 08th, the Representative disclosed that they had sold between $50,001 and $100,000 in Bank of America stock on April 7th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $50,001 – $100,000 in shares of Chipotle Mexican Grill (NYSE:CMG) on 4/17/2025.
• Purchased $50,001 – $100,000 in shares of Applied Materials (NASDAQ:AMAT) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Caterpillar (NYSE:CAT) on 4/17/2025.
• Sold $15,001 – $50,000 in shares of Lululemon Athletica (NASDAQ:LULU) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Western Digital (NASDAQ:WDC) on 4/17/2025.
• Sold $15,001 – $50,000 in shares of Zoetis (NYSE:ZTS) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Stryker (NYSE:SYK) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of NextEra Energy (NYSE:NEE) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of CSX (NASDAQ:CSX) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Ross Stores (NASDAQ:ROST) on 4/17/2025.

Bank of America Trading Up 3.7%

BAC traded up $1.56 during trading on Monday, hitting $43.35. 44,843,640 shares of the stock traded hands, compared to its average volume of 39,371,364. The firm has a market capitalization of $326.54 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. 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 firm has a 50-day moving average of $39.69 and a 200 day moving average of $43.49. Bank of America Co. has a 12-month low of $33.07 and a 12-month high of $48.08.

Bank of America (NYSE:BAC) last posted 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. The firm had revenue of $27.37 billion during the quarter, compared to analysts’ expectations of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Equities research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Friday, June 6th. Bank of America’s payout ratio is 30.95%.

Analysts Set New Price Targets

A number of analysts have recently commented on BAC shares. 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 note on Thursday, April 3rd. Cfra Research upped their price target on shares of Bank of America to $47.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. Oppenheimer upped their price objective on Bank of America from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. Piper Sandler cut their target price on shares of Bank of America from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Finally, Barclays decreased their price target on shares of Bank of America from $58.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.25.

Institutional Investors Weigh In On Bank of America

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

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email [email protected] to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.