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

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 Up 1.2%

BAC opened at $61.12 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The stock’s fifty day simple moving average is $55.71 and its 200 day simple moving average is $53.21. Bank of America Corporation has a 1-year low of $44.75 and a 1-year high of $62.12. The stock has a market cap of $433.71 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 0.97 and a beta of 1.17.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. Bank of America’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 EPS. As a group, research analysts expect that Bank of America Corporation will post 4.66 earnings per share 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 paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, June 5th. Bank of America’s dividend payout ratio is 25.69%.

Insiders Place Their Bets

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company’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 completion of the transaction, the insider owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Bank of America

Several large investors have recently made changes to their positions in BAC. Abound Financial LLC acquired a new stake in shares of Bank of America in the 4th quarter valued at approximately $26,000. Legacy Bridge LLC increased its holdings in shares of Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after buying an additional 330 shares in the last quarter. Wiser Advisor Group LLC bought a new position in shares of Bank of America in the 3rd quarter valued at $27,000. CrossGen Wealth LLC bought a new position in shares of Bank of America in the 4th quarter valued at $30,000. Finally, Joseph Group Capital Management acquired a new stake in shares of Bank of America during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BAC. Morgan Stanley increased their price target on shares of Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 target price on shares of Bank of America in a research note on Tuesday, July 14th. Oppenheimer cut Bank of America from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Piper Sandler boosted their price target on Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Finally, Wells Fargo & Company increased their price objective on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.77.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America’s new BofA Rewards program crossed 3 million enrollments in just seven weeks, with most sign-ups happening digitally. That rapid adoption suggests the bank is successfully deepening customer relationships and could support future deposit growth and cross-selling. 3 Million+ Clients Enroll in New BofA Rewards™ Program in First Seven Weeks
• Positive Sentiment: Bank of America also enhanced its EricaAssist tool with generative AI, giving more than 18,000 employees faster real-time guidance to resolve client needs. Investors may view this as an efficiency and service-quality improvement that can help lower costs over time. BofA enhances AI-powered tool to resolve client needs faster
• Positive Sentiment: Oppenheimer reportedly added Bank of America to its latest buy ideas list with a near-perfect quant rating, reinforcing the bullish case for BAC among analysts. Bank of America leads Oppenheimer’s latest buy additions with near-perfect quant rating
• Positive Sentiment: The bank promoted Thorsten Pauli to lead Asia Pacific capital markets, a move that underscores continued focus on investment banking and global markets opportunities. Bank of America (BAC) Names Thorsten Pauli To Lead Asia Pacific Capital Markets
• Positive Sentiment: Bank of America’s small business digital banking platform again ranked first in a Keynova Group scorecard, which may bolster the view that BAC is gaining share through better digital products. Small Business Digital Banking Advances with Payment Innovations and Upgraded Invoicing and Receivables Capabilities
• Neutral Sentiment: Several stories highlighted Bank of America research on other companies, including Micron, Meta, Apple, CoreWeave, and Citizens Financial. These items mainly reflect BAC’s analyst franchise rather than a direct change in Bank of America’s fundamentals.
• Neutral Sentiment: The bank also released workplace wellbeing and broader economic commentary, which add color to the macro backdrop but are less likely to move BAC shares by themselves. BofA Report: Financial Wellbeing of Employees at U.S. Companies Hits Four-Year High, Even as Cost-of-Living Pressures Persist

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.