Bank of America Corp
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Financials : Banks | Large Cap ValueCompany profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

Premarket

Last Trade
Delayed
$27.07
0.14 (0.52%)
Bid
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Ask
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B/A Size
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Market Hours

Closing Price
$26.93
Day's Change
0.00 (0.00%)
Bid
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Ask
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B/A Size
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Day's High
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Day's Low
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Volume
(Light)
Volume:
29,941

10-day average volume:
63,255,493
29,941

Bank of America steps up stock repurchases as prices rose

9:02 am ET April 16, 2019 (MarketWatch)
Print

Bank of America Corp. (BAC) said it repurchased $6.3 billion worth of its shares during the first quarter, as the shares surged, compared with $5.2 billion in buybacks in the fourth quarter. The bank didn't provide details at what prices it bought its shares during the first quarter, but the stock rose 12.0% during the quarter with a volume-weighed average price (VWAP) of $28.25. The stock closed Monday at $29.84. During the fourth quarter, the stock tumbled 16.4%, and Bank of America said it repurchased 194,391 shares at a weighted-average price of $26.92. The stock slumped 1.5% in premarket trade Tuesday, after Bank of America reported first-quarter earnings (http://www.marketwatch.com/story/bank-of-america-shares-edge-lower-as-first-quarter-revenue-falls-short-2019-04-16) that beat expectations but revenue that fell short. The stock has slipped 0.3% over the past 12 months through Monday, while the SPDR Financial Select Sector ETF (XLF) has lost 2.2% and the S&P 500 has gained 8.5%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

April 16, 2019 09:02 ET (13:02 GMT)

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