Rep. Laurel M. Lee Sells Shares of Bank of America Corporation (NYSE:BAC)

Representative Laurel M. Lee (Republican-Florida) recently sold shares of Bank of America Corporation (NYSE:BAC). In a filing disclosed on July 19th, the Representative disclosed that they had sold between $1,001 and $15,000 in Bank of America stock on June 2nd.

Representative Laurel M. Lee also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Nokia (NYSE:NOK) on 6/2/2026.

Bank of America Stock Down 1.4%

Shares of NYSE:BAC opened at $60.41 on Tuesday. The firm has a fifty day moving average price of $55.50 and a 200 day moving average price of $53.17. Bank of America Corporation has a 1-year low of $44.75 and a 1-year high of $62.12. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market cap of $428.70 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.98 and a beta of 1.17.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.08. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Sell-side analysts predict that Bank of America Corporation will post 4.64 EPS for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a $0.28 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 1.9%. Bank of America’s dividend payout ratio is 25.69%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BAC. Envestnet Portfolio Solutions Inc. grew its position in shares of Bank of America by 7.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 203,285 shares of the financial services provider’s stock valued at $11,583,000 after purchasing an additional 14,762 shares during the period. Hager Investment Management Services LLC lifted its holdings in shares of Bank of America by 2.6% during the 2nd quarter. Hager Investment Management Services LLC now owns 18,069 shares of the financial services provider’s stock worth $1,030,000 after acquiring an additional 456 shares during the period. Physician Wealth Advisors Inc. boosted its position in shares of Bank of America by 2.4% in the second quarter. Physician Wealth Advisors Inc. now owns 8,364 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 200 shares during the last quarter. Gibraltar Capital Management Inc. boosted its holdings in shares of Bank of America by 0.6% in the 2nd quarter. Gibraltar Capital Management Inc. now owns 124,731 shares of the financial services provider’s stock valued at $7,107,000 after purchasing an additional 796 shares during the last quarter. Finally, First United Bank & Trust grew its stake in shares of Bank of America by 4.4% during the 2nd quarter. First United Bank & Trust now owns 5,890 shares of the financial services provider’s stock valued at $336,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America highlighted upside in several financial names, including Citizens Financial and other regional banks, pointing to attractive valuations, above-peer growth, and potential net interest margin improvement. That suggests BofA still sees opportunities in the banking sector despite rate-related headwinds. Article: Citizens Financial Group: Buy Rating Backed by Attractive Valuation, Above-Peer Growth and Net Interest Margin Upside
• Positive Sentiment: A banking-industry report said embedded finance and FinTech partnerships are increasingly flowing into bank balance sheets, which could support deposit gathering and fee opportunities for large banks like Bank of America (BAC). Article: Banks Tap FinTechs and Embedded Finance for Deposits
• Positive Sentiment: Bank of America continues to be cited in market commentary as benefiting from stronger bank earnings and a generally improving earnings backdrop for the sector, which can help sentiment toward BAC. Article: Bank Earnings Are Roaring, But Wall Street Isn’t Ready to Celebrate (BAC)
• Neutral Sentiment: Bank of America also drew media attention for promoting executives to lead AI and crypto efforts, reinforcing its technology push, but this is more of a strategic long-term story than an immediate stock driver. Article: Bank of America Promotes Execs to Champion AI and Crypto
• Negative Sentiment: Macro commentary from BofA and others suggests inflation and interest-rate uncertainty may keep pressure on bank valuations and net interest income expectations, which can weigh on BAC shares. Article: Bond Traders Take Warsh at Word, See Inflation Fight Continuing

Insider Buying and Selling at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BAC. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a report on Friday, April 24th. Evercore set a $63.00 price target on shares of Bank of America and gave the stock an “outperform” rating in a research note on Monday, July 6th. Truist Financial upped their target price on shares of Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Barclays upped their price target on Bank of America from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Robert W. Baird raised their price objective on Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.77.

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.

Bank of America Company Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.