Bank of America (NYSE:BAC) Stock, Quote.Headers.trade-ideas

Bank of America

Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.

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Yellen cautions against reversing clean energy tax credits, warns of higher costs &amp; jeopardizing job-generating investments. Trump&#39;s rollback proposal dismissed as a Green New Scam. Harris introduces 28% tax on high earners, softening Biden&#39;s rates ahead 2024 election.

Trump Wants To End EV Tax Credits But Yellen Warns of Higher Bills, Lost Jobs, and China&#39;s Gain

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Berkshire Hathaway is Bank of America&#39;s largest shareholder with roughly 864 million shares. This gives it a stake of 11.1%.

Warren Buffett Trims Bank Of America Stake, Analysts Speculate Why

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The Nasdaq 100 closed slightly higher during Thursday&#39;s session. Investors, meanwhile, focused on some notable insider trades.

Microsoft, Bank of America And 2 Other Stocks Executives Are Selling

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BANK OF AMERICA 7.00B PFD by Bank of America Corp.

Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of 6.000% Non-Cumulative Preferred Stock, Series GG

Bank of America Corporation Depositary Sh repstg 1/1000th Perp Pfd Ser E

Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of 5.875% Non- Cumulative Preferred Stock, Series HH

Bank of America Corporation Non Cumulative Perpetual Conv Pfd Ser L

Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series KK

Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 5.000% Non-Cumulative Preferred Stock, Series LL

Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN

Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of 4.125% Non-Cumulative Preferred Stock, Series PP

Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.250% Non-Cumulative Preferred Stock, Series QQ

Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.750% Non-Cumulative Preferred Stock, Series SS

On Thursday, U.S. Treasury Secretary&nbsp;Janet Yellen reportedly stated that eliminating the clean energy tax credits provided by the Inflation Reduction Act (IRA) &#8220;would be a historic mistake.&#8221;
She cautioned that efforts to reverse President Joe Biden&#8217;s administration&#8217;s clean energy tax credits would increase families&#8217; costs and threaten new investments in U.S. manufacturing that are generating jobs, reported Reuters.
Yellen said the rollback could give China, which is investing in green energy industries, an advantage.
Yellen highlighted that families nationwide had already claimed $8.4 billion in energy tax credits, which will help reduce their long-term energy bills.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40687930/kamala-harriss-new-ad-campaign-focused-takes-a-dig-at-trumps-economic-policies" rel="noreferrer noopener">Kamala Harris&#8217;s New Ad Campaign &#8216;Focused&#8217; Takes A Dig At Trump&#8217;s Economic Policies</a>
She added, &#8220;Rolling them back could raise costs for working families at a moment when it&#8217;s imperative that we continue to take action to lower prices,&#8221;
&#8220;It could jeopardize the significant investments in manufacturing we&#8217;re seeing here and across the country, along with the jobs that come with them, many of which don&#8217;t require a college degree.&#8221;
Earlier, Trump proposed reallocating funds from environmental projects to infrastructure projects such as roads, bridges, and dams, dismissing what <a target="_blank" href="https://www.benzinga.com/news/24/07/39853222/trump-blasts-crazy-nancy-pelosi-vows-to-end-inflation-and-claims-kim-jong-un-misses-him-in-rnc-addre" rel="noreferrer noopener">he referred to as a &#8220;Green New Scam.&#8221;</a>
This week, Donald Trump pledged to cut American energy costs by half or more, a promise that experts scrutinize due to the intricacies <a target="_blank" href="https://www.benzinga.com/news/24/09/40703958/trumps-drill-baby-drill-pledge-may-not-deliver-promised-energy-price-cuts-experts-warn" rel="noreferrer noopener">of global and regional energy markets</a>.
On the other hand, Vice President&nbsp;Kamala Harris introduced a 28% tax on long-term capital gains for households earning $1 million or more annually, softening Biden‘s previously proposed rates ahead<a target="_blank" href="https://www.benzinga.com/news/24/09/40722526/kamala-harris-reveals-28-capital-gains-tax-for-high-earners-toning-down-bidens-proposed-rates-ahead" rel="noreferrer noopener"> of the 2024 presidential election</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/politics/24/09/40731719/goldman-sachs-kamala-harris-victory-bodes-well-for-us-economy-trump-tariffs-will-drive-up-inflat" rel="noreferrer noopener">Goldman Sachs: Kamala Harris Victory Bodes Well For US Economy, Trump Tariffs Will Drive Up Inflation</a>
Yesterday,&nbsp;Bank of America Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) reportedly planned to invest $205 million in exchange for tax credits from an ethanol producer, Harvestone Low Carbon Partners,&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40729471/bank-of-america-makes-largest-ever-investments-in-carbon-capture-bets-205m-on-a-cleaner-planet-r" rel="noreferrer noopener">that captures carbon at a plant in North Dakota</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40673183/mark-cuban-raises-alarm-over-trump-vs-harris-poll-results-804k-votes-against-just-656k-engagements-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Raises Alarm Over Trump Vs. Harris Poll Results: 804K Votes Against Just 656K Engagements — Says Elon Musk Can Influence X's Algorithm</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Trump Wants To End EV Tax Credits But Yellen Warns of Higher Bills, Lost Jobs, and China's Gain

WIIM

Bank of America shares are trading lower after Berkshire Hathaway disclosed additional share sales.

<a href="https://www.benzinga.com/topic/warren-buffett">Warren Buffett</a>'s Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) continues its steady sale of Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) shares.
What Happened: The firm offloaded 18.7 million shares between Sept. 3 and Sept. 5. It raised $760 million in the process. 
Following this sale, Berkshire's total divestment from the bank has reached nearly $7 billion since the<a href="https://www.benzinga.com/markets/equities/24/07/39870428/warren-buffetts-berkshire-hathaway-sells-33-9m-bank-of-america-shares-worth-1-48b"> selling started in mid-July.</a>
Yet, Berkshire Hathaway remains the bank's largest shareholder, still holding approximately 864 million shares. This gives it a stake of 11.1% — a reduction of around 5% from its peak. 
If the firm's stake falls below 10%, according to<a href="https://www.sec.gov/education/smallbusiness/goingpublic/officersanddirectors"> Section 16 of the Exchange Act</a>, it wouldn't need to report further sales within two business days.
Also Read: <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40748557/job-creation-falls-short-of-expectations-in-august-unemployment-rate-ticks-lower-">Job Creation Falls Short Of Expectations In August, Unemployment Rate Ticks Lower, Wage Growth Soars</a>
Why It Matters: Buffett has offered no public explanation for the sales. Analysts speculate that the decision might be driven by changing market conditions, such as the anticipated shift in monetary policy that FED's Chairman Jerome Powell signaled at a recent Jackson Hole symposium.
It is also worth noting that the widely used "<a href="https://www.benzinga.com/startups/24/07/39740890/warren-buffett-indicator-sounds-alarm-stock-market-levels-now-surpass-dot-com-bubble-great-financial">Buffett indicator</a>," which compares the U.S. GDP to total stock market capitalization, has climbed two standard deviations above its historical average—a typical sign that stocks are richly valued.
Meanwhile, Berkshire hit an all-time high, with its stock price reaching $484.82 intraday on Wednesday before correcting to close at $464.92 on Thursday. By reaching over <a href="https://www.benzinga.com/24/09/40686973/warren-buffetts-timeless-strategies-catapulted-berkshire-hathaway-to-a-trillion-dollar-valuation-as">$1 trillion in market capitalization</a>, the firm became the first non-tech company to enter such an exclusive club. The stock is up 28.68% year-to-date.
 Buffett&#8217;s initial interest in Bank of America began in August of 2011 when Berkshire invested $5 billion in preferred stock and warrants that guaranteed a 6% annual dividend. That investment alone was enough catalyst to push the stock 25% higher, signaling a turnaround. Still, it took more than a decade to reach the levels where it traded before the Great Recession.
Price Action: In 2024, Bank of America mirrored the broader market movement. Since reaching a high of $44.13 in July, the stock has dropped around 9.2%, coinciding with Berkshire's ongoing sell-off.
Now Read: 
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</ul>
Image: Shutterstock

The Nasdaq 100 closed slightly higher during Thursday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Fabrinet&nbsp;</h3>
<ul>
<li>The Trade: Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) EVP, Sales &amp; Marketing Edward T. Archer <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 8,690 shares</a> at an average price of $220.26. The insider received around $1.9 million from selling those shares.</li>
<li>What's Happening: On Aug. 19, Fabrinet reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
<li>What Fabrinet  Does: Fabrinet provides advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and sub-systems, industrial lasers, automotive components, medical devices, and sensors.</li>
<li>Benzinga Pro's real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1"> latest FN news. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="907" height="845" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035142/image-44.png" alt="" class="wp-image-533656" style="width:672px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035142/image-44.png 907w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035142/image-44-300x279.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035142/image-44-768x716.png 768w" sizes="(max-width: 907px) 100vw, 907px" /></a></figure>
<h3 class="wp-block-heading">Bank of America</h3>
<ul>
<li>The Trade: Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) 10% owner Warren E Buffett <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 18,746,304 shares</a> at an average price of $40.54. The insider received around $760.04 million from selling those shares.</li>
<li>What's Happening: The company is reportedly providing a major boost to climate technology, which has struggled to gain momentum through a landmark tax credit deal. The bank will invest $205 million in exchange for tax credits from an ethanol producer, Harvestone Low Carbon Partners, that captures carbon at a plant in North Dakota, reported WSJ.</li>
<li>What Bank of America Does: Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1">trend in BAC stock. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="922" height="842" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035242/image-45.png" alt="" class="wp-image-533661" style="width:695px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035242/image-45.png 922w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035242/image-45-300x274.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035242/image-45-768x701.png 768w" sizes="(max-width: 922px) 100vw, 922px" /></a></figure>
<h3 class="wp-block-heading">Microsoft</h3>
<ul>
<li>The Trade: Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 78,353 shares</a> at an average price of $408.63. The insider received around $32.02 million from selling those shares.</li>
<li>What's Happening: Microsoft Corp recently launched a new line of Windows PCs with AI capabilities.</li>
<li>What Microsoft Does: Microsoft develops and licenses consumer and enterprise software. </li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1">breakout in MSFT shares.</a> </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="903" height="845" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035323/image-1-10.png" alt="" class="wp-image-533662" style="width:706px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035323/image-1-10.png 903w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035323/image-1-10-300x281.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035323/image-1-10-768x719.png 768w" sizes="(max-width: 903px) 100vw, 903px" /></a></figure>
<h3 class="wp-block-heading">Robinhood</h3>
<ul>
<li>The Trade: Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) Chief Legal Officer Daniel Martin Gallagher Jr <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 12,500 shares</a> at an average price of $19.33. The insider received around $241,566 from selling those shares.</li>
<li>What's Happening: Robinhood Markets agreed to a $3.9 million settlement with California's Department of Justice over its past ban on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) cryptocurrency withdrawals.</li>
<li>What Robinhood Does: Robinhood Markets Inc is creating a modern financial services platform. </li>
<li>Benzinga Pro&#8217;s earnings calendar was used to track upcoming <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1">HOOD&#8217;s earnings reports.</a> </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="876" height="773" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035439/image-46.png" alt="" class="wp-image-533663" style="width:708px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035439/image-46.png 876w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035439/image-46-300x265.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06035439/image-46-768x678.png 768w" sizes="(max-width: 876px) 100vw, 876px" /></a></figure>
Check This Out:
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<li><a href="https://www.benzinga.com/top-stories/24/09/40730015/jim-cramer-oklo-is-losing-money-hand-over-fist-but-this-private-equity-stock-is-a-buy"> Jim Cramer: Oklo Is Losing Money &#8216;Hand-Over-Fist,&#8217; But This Private Equity Stock Is A Buy</a></li>
</ul>

Legal

Bank Of America Says Has Not Found Anything To Support Reported Allegations That It Shared Non Public Information With Some Investors

<a href="https://www.wsj.com/finance/bank-of-america-shared-nonpublic-information-with-investors-in-india-whistleblower-says-8e16deb8?mod=latest_headlines">https://www.wsj.com/finance/bank-of-america-shared-nonpublic-information-with-investors-in-india-whistleblower-says-8e16deb8?mod=latest_headlines</a>
&nbsp;
<a href="https://www.wsj.com/market-data/quotes/BAC">Bank of America</a> has opened an internal investigation following allegations that bankers in Asia shared nonpublic information with investors before the bank sold hundreds of millions of dollars of stock.&nbsp;
The whistleblower complaint alleged that bankers shared transaction details with investors before a stock sale in India was announced this spring, according to a copy of the complaint reviewed by The Wall Street Journal—potentially enabling the investors to engage in what is known on Wall Street as "front running."

Global

INDA

"Bank Of America Shared Nonpublic Information With Investors In India, Whistleblower Says; Bank Is Investigating Complaint, Which Centers On Three Deals Since 2023" - WSJ

Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) shares are trading higher premarket Thursday. The company is reportedly providing a major boost to climate technology, which has struggled to gain momentum through a landmark tax credit deal.
The bank will invest $205 million in exchange for tax credits from an ethanol producer, Harvestone Low Carbon Partners, that captures carbon at a plant in North Dakota, <a target="_blank" href="https://www.wsj.com/business/energy-oil/bank-of-america-carbon-capture-tax-credit-deal-c81a8c32?mod=business_lead_story" rel="noreferrer noopener">reported</a> WSJ.
Notably, last October, Harvestone Low Carbon Partners began capturing carbon at its Underwood plant. This plant produces corn ethanol blended with gasoline to meet emission regulations and captures over 200,000 metric tons of carbon annually—equivalent to the emissions of about 42,000 gas-powered cars.
The deal represents one of the largest-ever investments in carbon capture and the first deal of its kind since the 2022 climate law enhanced tax credits for carbon capture and underground storage.
The report quoted Noah Zerance, a director on Bank of America's sustainable finance team, saying in an interview, &#8220;There has to be an element of trying to address the emitters that are in the market today and helping them decarbonize.&#8221;
As per the report, the deal underscores how investors are betting that certain aspects of the Biden administration's climate spending will endure despite potential policy changes in Washington.
Investors can gain access to the stock via&nbsp;First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)&nbsp;and&nbsp;Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: BAC shares are up 0.15% at $40.56 premarket at the last check Thursday.
Photo Courtesy: Tero Vesalainen On Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40592315/warren-buffett-sells-another-982m-worth-of-bank-of-america-shares-what-you-should-know" target="_blank" rel="noreferrer noopener">Warren Buffett Sells Another $982M Worth Of Bank Of America Shares — What You Should Know</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

FTXO

KBWB

Bank Of America Makes Largest-Ever Investments In Carbon Capture, Bets $205M On A Cleaner Planet: Report

Whales with a lot of money to spend have taken a noticeably bearish stance on Bank of America.
Looking at options history for Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 18% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $990,498 and 6, calls, for a total amount of $275,979.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $37.0 and $50.0 for Bank of America, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Bank of America stands at 5978.12, with a total volume reaching 14,957.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Bank of America, situated within the strike price corridor from $37.0 to $50.0, throughout the last 30 days.
<h3>Bank of America Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725467438_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$2.06</td>
<td>$2.02</td>
<td>$2.04</td>
<td>$37.00</td>
<td>$816.0K</td>
<td>20.7K</td>
<td>4.0K</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$4.2</td>
<td>$4.1</td>
<td>$4.1</td>
<td>$38.00</td>
<td>$82.0K</td>
<td>1.5K</td>
<td>400</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/06/24</td>
<td>$8.5</td>
<td>$8.4</td>
<td>$8.5</td>
<td>$49.00</td>
<td>$68.8K</td>
<td>25</td>
<td>81</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$2.27</td>
<td>$2.23</td>
<td>$2.24</td>
<td>$41.00</td>
<td>$52.4K</td>
<td>2.9K</td>
<td>236</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$2.07</td>
<td>$2.05</td>
<td>$2.05</td>
<td>$37.00</td>
<td>$49.4K</td>
<td>20.7K</td>
<td>4.6K</td>
</tr>
</tbody>
</table>

<h3>About Bank of America</h3>
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.
Following our analysis of the options activities associated with Bank of America, we pivot to a closer look at the company's own performance.
<h3>Bank of America's Current Market Status</h3>
<ul>
<li>With a trading volume of 14,586,332, the price of BAC is down by -0.44%, reaching $40.52.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 41 days from now.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Bank of America with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Bank of America's Options: A Look at What the Big Money is Thinking

Deutsche Bank analyst Matt O-Connor revised ratings on JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) and Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>).
JP Morgan: The analyst downgraded the rating to Hold from Buy while <a target="_blank" href="https://www.benzinga.com/quote/JPM/analyst-ratings" rel="noreferrer noopener">retaining the price target at $235</a>.
The analyst writes that JPM shares have led bank stocks YTD with a 30% gain driven by higher net interest income, strong trading results, recovery in investment banking, and solid credit conditions, aside from credit card normalization.
However, with a lot of positive news already priced in, the analyst sees a limited near-term upside.
O-Connor expects flattish EPS in 2025, with pressures on net interest income and ongoing investment spending likely offsetting gains in fee revenues.
While buybacks are expected to increase, the current share price may be too high for JPM to ramp up buyback activity significantly, adds the analyst.
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40576740/jpmorgan-sued-for-allegedly-profiting-from-customers-idle-cash-report" rel="noreferrer noopener">JPMorgan Sued For Allegedly Profiting From Customers&#8217; Idle Cash: Report</a>
Bank Of America: O-Connor boosted the rating to Buy from Hold and <a target="_blank" href="https://www.benzinga.com/quote/bac/analyst-ratings" rel="noreferrer noopener">maintained the price target at $45</a>.
The analyst writes that the recent decline in BAC shares presents a more attractive entry point and is largely due to Berkshire Hathaway&#8217;s share sales and concerns about net interest income (NII) in light of anticipated rate cuts and sluggish loan growth.
Related: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40592315/warren-buffett-sells-another-982m-worth-of-bank-of-america-shares-what-you-should-know" rel="noreferrer noopener">Warren Buffett Sells Another $982M Worth Of Bank Of America Shares — What You Should Know</a>
Despite recent concerns, BAC&#8217;s valuation remains attractive, with key positives including expected improvement in net interest margin (NIM) as low-yield assets roll off and benefit from increased focus on investment banking and trading.
Also, strong expense management leading to significant operating leverage, effective capital allocation and a solid credit underwriting track record are among the tailwinds, says the analyst.
Wells Fargo: The analyst upgraded the bank to Buy from Hold and <a target="_blank" href="https://www.benzinga.com/quote/WFC/analyst-ratings" rel="noreferrer noopener">maintained the price target at $65</a>.
The analyst says the rating reflects recent weakness, presenting a better entry point. Near-term concerns about net interest income and capital outlooks, along with regulatory risks, seem more priced in now.
In the long-term, WFC stands to benefit from potential earnings boosts once the asset cap is lifted, enhanced by increased revenues and improved efficiency, writes the analyst.
O-Connor adds that the bank&#8217;s investments in trading, investment banking, and credit cards are also expected to drive growth.
Price Action: WFC shares are up 0.50% at $58.77, and BAC is up 0.09% at $40.78, while JPM is down 0.90% at $222.79 at the last check Tuesday.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/08/40155365/zelle-controversy-heats-up-jpmorgan-considers-legal-action" target="_blank" rel="noreferrer noopener">Zelle Controversy Heats Up: JPMorgan Considers Legal Action</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Analyst Color

Upgrades

Downgrades

Price Target

Analyst Ratings

JP Morgan Downgraded, Bank Of America And Wells Fargo Upgraded: What's Behind Deutsche Bank's Latest Analyst Ratings?

Macro Economic Events

Economics

Bank of America Global Research Cuts Global GDP Growth Forecast For 2024 To 3.1% Vs Prior Forecast Of 3.2%

The Nasdaq 100 closed higher by more than 1% during Friday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Williams-Sonoma</h3>
<ul>
<li>The Trade: Williams-Sonoma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) EVP CHIEF TALENT OFFICER Karalyn Smith <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 11,100 shares</a> at an average price of $134.66. The insider received around $1.5 million from selling those shares.</li>
<li>What's Happening: On Aug. 22, the company reported second-quarter adjusted earnings per share of $1.74, beating the analyst consensus of $1.59.</li>
<li>What Williams-Sonoma Does: With a retail and direct-to-consumer presence, Williams-Sonoma is a player in the $300 billion domestic home category and $450 billion international home market, focused on expanding its exposure in the B2B ($80 billion total addressable market), marketplace, and franchise areas.</li>
<li>Benzinga Pro's real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090324&amp;t=be2bearmibe3na1"> latest WSM news</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="897" height="837" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034116/image-3.png" alt="" class="wp-image-526237" style="width:704px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034116/image-3.png 897w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034116/image-3-300x280.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034116/image-3-768x717.png 768w" sizes="(max-width: 897px) 100vw, 897px" /></a></figure>
<h3 class="wp-block-heading">Bank of America</h3>
<ul>
<li>The Trade: Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) 10% owner Warren E Buffett sold a total of 21,076,473 shares at an average price of $40.24. The insider received around $848.2 million from selling those shares.</li>
<li>What's Happening: On Aug. 16, Bank of America announced redemption of €1.5 billion of floating rate senior notes, due Aug. 24, 2025.</li>
<li>What Bank of America Does: Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090324&amp;t=be2bearmibe3na1">trend in BAC stock.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="915" height="843" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034200/image-1-1.png" alt="" class="wp-image-526238" style="width:729px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034200/image-1-1.png 915w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034200/image-1-1-300x276.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034200/image-1-1-768x708.png 768w" sizes="(max-width: 915px) 100vw, 915px" /></a></figure>
<h3 class="wp-block-heading">Build-A-Bear Workshop</h3>
<ul>
<li>The Trade: Build-A-Bear Workshop, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBW#NYSE">BBW</a>) CFO Vojin Todorovic <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 10,294 shares</a> at an average price of $33.37. The insider received around $343,493 from selling those shares.</li>
<li>What's Happening: On Aug. 29, Build-A-Bear Workshop posted better-than-expected second-quarter financial results.</li>
<li>What Build-A-Bear Workshop Does: Build-A-Bear Workshop Inc is a U.S.-based specialty retailer of customized stuffed animals and related products.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090324&amp;t=be2bearmibe3na1">breakout in BBW shares.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="891" height="838" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034244/image-4.png" alt="" class="wp-image-526240" style="width:669px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034244/image-4.png 891w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034244/image-4-300x282.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034244/image-4-768x722.png 768w" sizes="(max-width: 891px) 100vw, 891px" /></a></figure>
<h3 class="wp-block-heading">VSE Corp</h3>
<ul>
<li>The Trade: VSE Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSEC#NASDAQ">VSEC</a>) 10% owner Calvin Scott Koonce sold a total of 15,300 shares at an average price of $91.83. The insider received around $1.4 million from selling those shares.</li>
<li>What's Happening: On Aug. 20, VSE named Adam Cohn as CFO, effective Sept. 3</li>
<li>What VSE Does: VSE Corp is a diversified aftermarket products and services company providing repair services, parts distribution, logistics, supply chain management and consulting services for land, sea and air transportation assets to commercial and government markets.</li>
<li>Benzinga Pro&#8217;s Insiders feature was used to track insider trading activity in <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090324&amp;t=be2bearmibe3na1">VSEC&#8217;s shares.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="806" height="822" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034358/image-5.png" alt="" class="wp-image-526241" style="width:552px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034358/image-5.png 806w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034358/image-5-294x300.png 294w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03034358/image-5-768x783.png 768w" sizes="(max-width: 806px) 100vw, 806px" /></a></figure>
Check This Out:
<ul>
<li> <a href="https://www.benzinga.com/markets/24/08/40666406/top-2-real-estate-stocks-that-could-blast-off-this-quarter">Top 2 Real Estate Stocks That Could Blast Off This Quarter</a></li>
</ul>

VSEC

Williams-Sonoma, Bank of America And 2 Other Stocks Executives Are Selling

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/593fe7a785b07a00010be6c3/ananda-baruah">Loop Capital analyst Ananda Baruah </a>upgraded the rating for NetApp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) from Hold to Buy and raised the price target from $121 to $150. NetApp shares gained 1.3% to close at $120.72 on Friday. <a href="https://www.benzinga.com/quote/NTAP/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank analyst Matt O&#8217;Connor upgraded the rating for Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) from Hold to Buy and announced a price target of $45. Bank of America shares gained 1.4% to close at $40.75 on Monday. <a href="https://www.benzinga.com/quote/BAC/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5846ee56ee7bf6000154d12f/duane-pfennigwerth">Evercore ISI Group analyst Duane Pfennigwerth</a> upgraded Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) from In-Line to Outperform, while increasing the price target from $30 to $35. Southwest shares rose 0.6% to close at $28.92 on Friday. <a href="https://www.benzinga.com/quote/LUV/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank analyst Matt O&#8217;Connor upgraded the rating for Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) from Hold to Buy and announced a price target of $65. Wells Fargo shares gained 2% to settle at $58.47 on Friday. <a href="https://www.benzinga.com/quote/WFC/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/topic/john-roberts">Mizuho analyst John Roberts</a> upgraded International Flavors &amp; Fragrances Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IFF#NYSE">IFF</a>) from Neutral to Outperform and boosted the price target from $109 to $120. Intl Flavors &amp; Fragrances shares gained 1% to close at $103.99 on Friday. <a href="https://www.benzinga.com/quote/IFF/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying BAC stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="499" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03074739/image-8-1024x499.png" alt="" class="wp-image-526703" style="width:648px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03074739/image-8-1024x499.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03074739/image-8-300x146.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03074739/image-8-768x374.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03074739/image-8.png 1365w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

NTAP

This Bank of America Analyst Turns Bullish; Here Are Top 5 Upgrades For Tuesday

Deutsche Bank analyst Matt O'Connor upgrades Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) from Hold to Buy and announces $45 price target.

Deutsche Bank Upgrades Bank of America to Buy, Announces $45 Price Target

The Nasdaq 100 closed lower by around 0.1% during Thursday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Meta Platforms</h3>
<ul>
<li>The Trade: Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CFO Susan J Li <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 33,018 shares</a> at an average price of $517.94. The insider received around $17.1 million from selling those shares.</li>
<li>What's Happening: Mark Zuckerberg-led Meta has reportedly decided to discontinue its custom chip development for its upcoming augmented reality glasses.</li>
<li>What Meta Does: Meta is the world&#8217;s largest online social network, with nearly 4 billion family of apps monthly active users. Users engage with each other in different ways, exchanging messages and sharing news events, photos, and videos.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1">latest META news. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="897" height="847" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30050337/image-309.png" alt="" class="wp-image-522516" style="width:753px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30050337/image-309.png 897w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30050337/image-309-300x283.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30050337/image-309-768x725.png 768w" sizes="(max-width: 897px) 100vw, 897px" /></a></figure>
<h3 class="wp-block-heading">Bank of America</h3>
<ul>
<li>The Trade: Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) President, International Bernard A Mensah <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 92,000 shares </a>at an average price of $39.81. The insider received around $3.7 million from selling those shares.</li>
<li>What's Happening: Berkshire Hathaway sold shares worth more than $550 million, at an average price of $39.50 per share, over the past few days, according to Barron's.</li>
<li>What Bank of America Does: Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1"> trend in BAC stock.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="913" height="828" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30050440/image-310.png" alt="" class="wp-image-522518" style="width:692px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30050440/image-310.png 913w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30050440/image-310-300x272.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30050440/image-310-768x696.png 768w" sizes="(max-width: 913px) 100vw, 913px" /></a></figure>
<h3 class="wp-block-heading">C.H. Robinson Worldwide</h3>
<ul>
<li>The Trade: C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>) Chief Legal Officer/Secretary Ben G Campbell <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 2,780 shares</a> at an average price of $102.11. The insider received around $283,855 from selling those shares.</li>
<li>What's Happening: On Aug. 8, C.H. Robinson Worldwide raised its quarterly cash dividend from 61 cents to 62 cents per share.</li>
<li>What C.H. Robinson Worldwide Does: C.H. Robinson is a top-tier non-asset-based third-party logistics provider with a significant focus on domestic freight brokerage (about 61% of net revenue), which reflects mostly truck brokerage but also rail intermodal. </li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1">breakout in CHRW shares. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="873" height="842" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30050533/image-311.png" alt="" class="wp-image-522520" style="width:643px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30050533/image-311.png 873w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30050533/image-311-300x289.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30050533/image-311-768x741.png 768w" sizes="(max-width: 873px) 100vw, 873px" /></a></figure>
<h3 class="wp-block-heading">CarGurus</h3>
<ul>
<li>The Trade: CarGurus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>) Director Greg M Schwartz sold a total of 11,000 shares at an average price of $28.29. The insider received around $311,190 from selling those shares.</li>
<li>What's Happening: On Aug. 8, CarGurus reported better-than-expected second-quarter financial results.</li>
<li>What CarGurus Does: CarGurus Inc is a company that acts as an online automotive marketplace connecting buyers and sellers of new and used cars. </li>
<li>Benzinga Pro&#8217;s earnings calendar was used to track upcoming <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1">CARG&#8217;s earnings reports. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="860" height="817" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30051213/image-312.png" alt="" class="wp-image-522526" style="width:632px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30051213/image-312.png 860w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30051213/image-312-300x285.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30051213/image-312-768x730.png 768w" sizes="(max-width: 860px) 100vw, 860px" /></a></figure>
Check This Out: 
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<li><a href="https://www.benzinga.com/24/08/40624754/top-2-materials-stocks-that-are-ticking-portfolio-bombs">Top 2 Materials Stocks That Are Ticking Portfolio Bombs</a></li>
</ul>

CARG

CHRW

Meta, Bank of America And 2 Other Stocks Executives Are Selling

Prospective homebuyers are holding off on<a href="https://www.benzinga.com/real-estate/24/06/39465243/u-s-home-sales-decline-for-third-month-as-record-prices-pose-persistent-affordability-challenges-dur"> buying new homes</a> as they bet on mortgage rates falling further, causing slow home sales, according to builders.
And why wouldn&#8217;t they wait?
In the week ending Aug. 23, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $766,550 slipped from <a href="https://finance.yahoo.com/news/mortgage-rates-hit-17-month-200029576.html?fr=yhssrp_catchall">6.5% to 6.44%</a>. This marks the lowest level since April 2023 and the fourth consecutive week of rate declines, according to the Mortgage Bankers Association (MBA).
Read Also: <a href="https://www.benzinga.com/real-estate/24/08/40629862/where-billionaires-are-snapping-up-homes-in-2024-hint-no-fear-of-climate-disasters">Where Billionaires Are Snapping Up Homes In 2024 — Hint, No Fear Of Climate Disasters</a>
&#8220;As observed in recent weeks, despite lower rates, purchase applications have not moved much,&#8221; said Joel Kan, MBA's vice president and deputy chief economist. 
&#8220;Prospective homebuyers are staying patient now that rates are moving lower and for-sale inventory has started to increase.&#8221; 
Mortgage applications saw a modest increase of 0.5% from the previous week, according to the Mortgage Bankers Association's (MBA) Weekly Applications Survey.
Refinancing activity showed a slight decline. The Refinance Index fell by 0.1% from the prior week, though it remains 85% higher than the same week last year, reflecting a robust annual surge in homeowners looking to take advantage of the lower rates.
Adjustable-rate mortgages (ARMs) also saw a decrease in interest rates. The average contract interest rate for 5/1 ARMs fell to 5.98% from 6.25%, indicating some relief for borrowers seeking more flexible loan terms.
Existing home sales increased for the first time in five months as falling mortgage rates have convinced prospective buyers to take out loans. However, sales are still slow as homeowners with mortgage rates around 3% wait for rates to fall even further, according to the National Association of Home Builders (NAHB).
Total existing-home sales rose 1.3% to a seasonally adjusted annual rate of 3.95 million in July. This marks the first increase after four months of declines. On a year-over-year basis, sales were still 2.5% lower than a year ago.
&#8220;Despite these changes, sales remained sluggish and low inventory continued to push up median home prices,&#8221; the NAHB said on Monday.
Homeowners with lower mortgage rates have opted to stay put, avoiding trading existing mortgages for new ones with higher rates.
This &#8220;lock-in&#8221; trend is causing home prices to rise and holding back inventory, but this trend should reverse as mortgage rates keep declining, the NAHB said.
&#8220;Mortgage rates are expected to continue to decrease gradually, leading to increased demand (and unlocking more of the lock-in inventory) in the coming quarters,&#8221; it said.
Price Action: Mortgage companies moved modestly on Wall Street into Thursday&#8217;s mid-afternoon trading.
<ul>
<li>UWM Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UWMC#NYSE">UWMC</a>) declined 0.93% to $9.07</li>
<li>Rocket Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>), parent company of Rocket Mortgage, fell 1.79% to $19.21</li>
<li>Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) went up 0.45% to $40.13</li>
</ul>
Home builders also moved little on Thursday.
<ul>
<li>D.R. Horton Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) fell 0.09% to $187.41</li>
<li>Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) gained 0.55% to $168.01</li>
<li>NVR, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) ticked up 0.22% to $9,049.14</li>
</ul>
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<li><a href="https://www.benzinga.com/real-estate/24/08/40485633/kamala-harris-3-million-homes-promise-everything-else-wont-work-unless-we-have-more-supply-says-chie">Kamala Harris&#8217; 3 Million Homes Promise: &#8216;Everything Else Won&#8217;t Work Unless We Have More Supply,&#8217; Says Chief Economist</a></li>
</ul>
Image: Midjourney

Real Estate

UWMC

Homebuyers Turn Screws On Builders As Mortgage Rates Are Telegraphed To Fall

Warren Buffett has sold an additional $982 million worth of Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) shares, according to a regulatory filing.
What Happened: Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) disclosed the sale of 24.7 million shares on Tuesday. The sales occurred on Aug. 23, 26, and 27, according to a filing with the U.S. Securities and Exchange Commission.
Despite these sales, Buffett remains a significant shareholder of Bank of America with 903.8 million shares. These shares are valued at $35.9 billion based on Tuesday's closing price.
See Also: <a href="https://www.benzinga.com/markets/equities/24/08/40567082/nvidias-hyperfocused-investors-might-trigger-negative-stock-trend-after-earnings-says-gene-munst?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s &#8216;Hyperfocused&#8217; Investors Might Trigger Negative Stock Trend After Earnings, Says Gene Munster: Here&#8217;s Why</a>
Why It Matters: This recent sale follows a series of significant transactions by Berkshire Hathaway in recent weeks. Earlier this month, the <a href="https://www.benzinga.com/markets/equities/24/08/40122588/warren-buffetts-berkshire-hathaway-further-pares-bank-of-america-stake-offloads-shares-worth-3-8">company offloaded more</a> than $3.8 billion worth of Bank of America shares over two weeks, reducing its holdings by approximately 19.2 million shares between Jul. 30 and Aug. 1.
Additionally, Buffett has been making other notable moves in the market. In the second quarter, Berkshire sold over 389 million shares of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), <a href="https://www.benzinga.com/markets/equities/24/08/40385824/warren-buffett-still-holds-400m-apple-shares-reveals-new-investments-in-ulta-beauty-and-heico-el">although it still retains a substantial holding</a> of 400 million shares. 
Berkshire has amassed a record-breaking <a href="https://www.benzinga.com/news/24/08/40435655/warren-buffetts-189b-cash-pile-not-a-sign-of-looming-market-crash-says-fund-manager-everybody-gets-e">cash pile of $189 billion</a>. Some market analysts, like fund manager Chris Bloomstran, argue that this cash reserve does not indicate a bearish outlook or an impending market crash. 
However, not everyone agrees with Buffett&#8217;s strategy. Ross Gerber, CEO of Gerber Kawasaki Wealth and a Tesla Inc. investor, has criticized Buffett for selling Apple shares ahead of what he calls the &#8220;AI revolution,&#8221; suggesting that Buffett <a href="https://www.benzinga.com/markets/equities/24/08/40152659/warren-buffett-doesnt-understand-technology-says-tesla-investor-ross-gerber-lamenting-sale-apple">may not fully grasp the potential of technology investments</a>. 
Price Action: Bank of America Corp&#8217;s stock closed at $39.67, down 0.63% on Tuesday. In after-hours trading, the stock slightly dipped further by 0.13%. Over the past year, the stock has gained 37.93%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/24/08/40591783/apples-september-9-glowtime-event-featuring-iphone-16-launch-could-kickstart-a-historical-period-say">Apple&#8217;s September 9 &#8216;Glowtime&#8217; Event Featuring iPhone 16 Launch Could Kickstart A &#8216;Historical Period,&#8217; Says Wedbush Analyst Dan Ives</a>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

AAPL

Warren Buffett Sells Another $982M Worth Of Bank Of America Shares — What You Should Know

Investors with a lot of money to spend have taken a bearish stance on Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BAC, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 19 uncommon options trades for Bank of America.
This isn't normal.
The overall sentiment of these big-money traders is split between 15% bullish and 73%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $1,352,267, and 9 are calls, for a total amount of $409,772.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $55.0 for Bank of America over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Bank of America's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Bank of America's whale trades within a strike price range from $30.0 to $55.0 in the last 30 days. 
<h3>Bank of America Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724773583_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$15.25</td>
<td>$15.15</td>
<td>$15.25</td>
<td>$55.00</td>
<td>$404.1K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">266</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$15.25</td>
<td>$15.15</td>
<td>$15.25</td>
<td>$55.00</td>
<td>$201.3K</td>
<td style="text-align: right;">89</td>
<td style="text-align: right;">277</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/18/26</td>
<td>$10.9</td>
<td>$10.75</td>
<td>$10.9</td>
<td>$50.00</td>
<td>$190.7K</td>
<td style="text-align: right;">9</td>
<td style="text-align: right;">176</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/18/26</td>
<td>$10.9</td>
<td>$10.75</td>
<td>$10.9</td>
<td>$50.00</td>
<td>$123.1K</td>
<td style="text-align: right;">9</td>
<td style="text-align: right;">289</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$15.3</td>
<td>$15.2</td>
<td>$15.3</td>
<td>$55.00</td>
<td>$114.7K</td>
<td style="text-align: right;">89</td>
<td style="text-align: right;">70</td>
</tr>
</tbody>
</table>

<h3>About Bank of America</h3>
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.
Following our analysis of the options activities associated with Bank of America, we pivot to a closer look at the company's own performance.
<h3>Bank of America's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 8,427,794, the BAC's price is up by 0.28%, now at $40.03. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 49 days.</li>
</ul>
<h3>Expert Opinions on Bank of America</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $49.0.
<ul>
<li>An analyst from Morgan Stanley persists with their Overweight rating on Bank of America, maintaining a target price of $49. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Bank of America options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Bank of America Unusual Options Activity For August 27

Whales with a lot of money to spend have taken a noticeably bearish stance on Bank of America.
Looking at options history for Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) we detected 28 trades.
If we consider the specifics of each trade, it is accurate to state that 39% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 13 are puts, for a total amount of $836,213 and 15, calls, for a total amount of $1,026,632.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $65.0 for Bank of America, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Bank of America's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Bank of America's substantial trades, within a strike price spectrum from $30.0 to $65.0 over the preceding 30 days.
<h3>Bank of America Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724434344_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$0.42</td>
<td>$0.41</td>
<td>$0.41</td>
<td>$41.00</td>
<td>$287.7K</td>
<td>32.5K</td>
<td>7.2K</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$6.85</td>
<td>$6.7</td>
<td>$6.85</td>
<td>$45.00</td>
<td>$187.7K</td>
<td>30</td>
<td>300</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$5.25</td>
<td>$5.15</td>
<td>$5.25</td>
<td>$44.00</td>
<td>$157.5K</td>
<td>0</td>
<td>300</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$0.42</td>
<td>$0.4</td>
<td>$0.4</td>
<td>$41.00</td>
<td>$120.0K</td>
<td>32.5K</td>
<td>10.2K</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$1.6</td>
<td>$1.55</td>
<td>$1.6</td>
<td>$39.00</td>
<td>$104.0K</td>
<td>15.4K</td>
<td>1.2K</td>
</tr>
</tbody>
</table>

<h3>About Bank of America</h3>
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.
After a thorough review of the options trading surrounding Bank of America, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Bank of America</h3>
<ul>
<li>With a volume of 22,817,771, the price of BAC is up 0.25% at $39.34. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 53 days.</li>
</ul>
<h3>What Analysts Are Saying About Bank of America</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $49.0.
<ul>
<li>An analyst from Morgan Stanley has decided to maintain their Overweight rating on Bank of America, which currently sits at a price target of $49. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Bank of America options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Bank of America Options Trading: A Deep Dive into Market Sentiment

Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) shares are trading slightly lower at $38.65 this week, through Wednesday morning, after Berkshire Hathaway recently sold off over $550 million worth of Bank of America shares, <a href="https://www.benzinga.com/news/24/08/40471316/whats-going-on-with-bank-of-america-shares-tuesday">averaging $39.50 per share</a>.
What Else: This sale reduces Berkshire&#8217;s holding to about 928 million shares, worth around $37 billion, or roughly 12% of the company&#8217;s total shares. Additionally, if Berkshire's stake falls below 10%, it would no longer be required to disclose share sales within two days. 
This divestment is part of a broader trend where Berkshire has reduced its investments in banks, such as Wells Fargo and Bank of New York Mellon, and it now only holds a small stake in Citigroup.
Berkshire Hathaway&#8217;s large-scale sale might signal to the market that a major investor lacks confidence in Bank of America&#8217;s future performance, potentially leading other investors to sell their shares as well.
Although exact reasons remain unclear, the sale could also suggest that Berkshire believes the stock is overvalued or that there are potential issues with Bank of America's financial health or prospects, prompting concerns among investors.
Berkshire Hathaway last week also disclosed significant <a href="https://www.benzinga.com/markets/equities/24/05/38873913/warren-buffetts-berkshire-confirms-apple-sale-dumps-this-pc-maker-finally-reveals-mystery-stock-">stock sales</a> in the second quarter, including selling over 389 million Apple shares. Despite this large sale, Berkshire Hathaway still holds 400 million Apple shares.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/08/40485557/30-year-mortgage-rates-hit-15-month-low-but-applications-pull-back-after-recent-spikes-real-esta">30-Year Mortgage Rates Hit 15-Month Low, But Applications Pull Back After Recent Spikes: Real Estate Stocks React Wednesday</a>
<h2 class="wp-block-heading">Is BAC A Good Stock To Buy?</h2>
When deciding whether to buy a stock, there are some key fundamentals investors may want to consider. One of these factors is revenue growth. Buying a stock is essentially a bet that the business will continue to grow and generate profits in the future.
It's also important to pay attention to valuation when deciding whether to buy a stock. Bank of America has a forward P/E ratio of 11.72. This means investors are paying $11.72 for each dollar of expected earnings in the future. The average forward P/E ratio of Bank of America's peers is 11.38.
Other important metrics to look at include a company's profitability, balance sheet, performance relative to a benchmark index and valuation compared to peers. For in-depth analysis tools and important financial data, check out <a href="https://pro.benzinga.com">Benzinga PRO</a>.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, BAC has a 52-week high of $44.44 and a 52-week low of $24.96.

What's Going On With Bank of America Shares?

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Financials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>MS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$104.00</td>
<td>$94.8K</td>
<td>66</td>
<td>3.3K</td>
</tr>
<tr>
<td>UWMC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$11.00</td>
<td>$34.8K</td>
<td>39.1K</td>
<td>3.0K</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$35.00</td>
<td>$1.0 million</td>
<td>7.2K</td>
<td>3.0K</td>
</tr>
<tr>
<td>AIG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$77.50</td>
<td>$51.4K</td>
<td>261</td>
<td>1.8K</td>
</tr>
<tr>
<td>RKT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/30/24</td>
<td>$21.00</td>
<td>$35.8K</td>
<td>158</td>
<td>1.7K</td>
</tr>
<tr>
<td>NU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$15.00</td>
<td>$91.3K</td>
<td>5.8K</td>
<td>1.6K</td>
</tr>
<tr>
<td>UPST</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$40.00</td>
<td>$28.9K</td>
<td>5.8K</td>
<td>1.2K</td>
</tr>
<tr>
<td>AFRM</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>08/30/24</td>
<td>$23.00</td>
<td>$38.0K</td>
<td>233</td>
<td>1.0K</td>
</tr>
<tr>
<td>RILY</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$7.50</td>
<td>$45.9K</td>
<td>1.4K</td>
<td>398</td>
</tr>
<tr>
<td>TFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$42.00</td>
<td>$37.1K</td>
<td>8</td>
<td>339</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For MS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), we notice a call option sweep that happens to be bearish, expiring in 30 day(s) on September 20, 2024. This event was a transfer of 895 contract(s) at a $104.00 strike. This particular call needed to be split into 27 different trades to become filled. The total cost received by the writing party (or parties) was $94.8K, with a price of $106.0 per contract. There were 66 open contracts at this strike prior to today, and today 3386 contract(s) were bought and sold. 
• Regarding UWMC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UWMC#NYSE">UWMC</a>), we observe a call option sweep with bullish sentiment. It expires in 184 day(s) on February 21, 2025. Parties traded 585 contract(s) at a $11.00 strike. This particular call needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $34.8K, with a price of $60.0 per contract. There were 39122 open contracts at this strike prior to today, and today 3095 contract(s) were bought and sold. 
• Regarding BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we observe a put option trade with bearish sentiment. It expires in 849 day(s) on December 18, 2026. Parties traded 3000 contract(s) at a $35.00 strike. The total cost received by the writing party (or parties) was $1.0 million, with a price of $364.0 per contract. There were 7232 open contracts at this strike prior to today, and today 3030 contract(s) were bought and sold. 
• Regarding AIG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), we observe a call option sweep with bullish sentiment. It expires in 58 day(s) on October 18, 2024. Parties traded 542 contract(s) at a $77.50 strike. This particular call needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $51.4K, with a price of $95.0 per contract. There were 261 open contracts at this strike prior to today, and today 1845 contract(s) were bought and sold. 
• For RKT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>), we notice a call option sweep that happens to be bullish, expiring in 9 day(s) on August 30, 2024. This event was a transfer of 1794 contract(s) at a $21.00 strike. This particular call needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $35.8K, with a price of $20.0 per contract. There were 158 open contracts at this strike prior to today, and today 1799 contract(s) were bought and sold. 
• For NU (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>), we notice a call option sweep that happens to be bearish, expiring in 58 day(s) on October 18, 2024. This event was a transfer of 1575 contract(s) at a $15.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $91.3K, with a price of $58.0 per contract. There were 5851 open contracts at this strike prior to today, and today 1689 contract(s) were bought and sold. 
• Regarding UPST (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>), we observe a call option sweep with bearish sentiment. It expires in 30 day(s) on September 20, 2024. Parties traded 100 contract(s) at a $40.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $28.9K, with a price of $289.0 per contract. There were 5872 open contracts at this strike prior to today, and today 1241 contract(s) were bought and sold. 
• Regarding AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we observe a put option trade with neutral sentiment. It expires in 9 day(s) on August 30, 2024. Parties traded 1000 contract(s) at a $23.00 strike. The total cost received by the writing party (or parties) was $38.0K, with a price of $38.0 per contract. There were 233 open contracts at this strike prior to today, and today 1026 contract(s) were bought and sold. 
• Regarding RILY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>), we observe a call option trade with neutral sentiment. It expires in 513 day(s) on January 16, 2026. Parties traded 200 contract(s) at a $7.50 strike. The total cost received by the writing party (or parties) was $45.9K, with a price of $230.0 per contract. There were 1476 open contracts at this strike prior to today, and today 398 contract(s) were bought and sold. 
• For TFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), we notice a call option sweep that happens to be bearish, expiring in 30 day(s) on September 20, 2024. This event was a transfer of 337 contract(s) at a $42.00 strike. This particular call needed to be split into 26 different trades to become filled. The total cost received by the writing party (or parties) was $37.1K, with a price of $110.0 per contract. There were 8 open contracts at this strike prior to today, and today 339 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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