Bank of America CEO Moynihan sells 17,892 shares at $46.94 on August 15, 2025.

Bank of America Corporation has announced that Brian T. Moynihan, Director, Chair, and Chief Executive Officer, has sold 17,892 shares at $46.94 per share on August 15, 2023.

Bank of America Corporation (NYSE: BAC) has reported that Brian T. Moynihan, the Director, Chair, and Chief Executive Officer, sold 17,892 shares of the company's stock at $46.94 per share on August 15, 2023. This transaction comes amidst ongoing discussions about the bank's approach to private prison companies and its stance on social issues.

Moynihan's sale of shares follows a series of events surrounding the bank's decision to stop funding private prison companies, particularly GEO Group. In June 2019, Bank of America became the last major bank to halt future funding for private prisons, a move that drew criticism from President Trump. Trump has since targeted Bank of America, accusing the bank of discriminating against conservatives and certain industries [2].

The sale of shares by Moynihan coincides with a period of increased scrutiny over Bank of America's corporate social responsibility initiatives. The bank has faced criticism for its decision to stop funding private prisons, which has been seen as a response to public policy demands and employee concerns. However, the bank has since relaxed its ban on private prison companies, adopting a case-by-case assessment approach [2].

In addition to the share sale, Bank of America has recently announced a stock buyback plan worth $40 billion and a dividend increase. The company's earnings for the latest quarter exceeded expectations, with revenue up 4.3% compared to the same period last year. The bank's stock has been performing well, with a market cap of $347.46 billion and a P/E ratio of 13.72 [3].

While the sale of shares by Moynihan is not uncommon for executives, the timing and context of this transaction have raised questions about the bank's future direction. Investors and financial professionals will be closely watching Bank of America's response to ongoing regulatory pressures and its commitment to social responsibility initiatives.

References:
[1] https://www.barrons.com/video/bank-of-america-ceo-brian-moynihan-talks-inflation/CCF2F4AD-369C-4EC0-8DF8-348928ED53C3
[2] https://finance.yahoo.com/news/trump-beef-bank-america-corporate-141916946.html
[3] https://www.marketbeat.com/instant-alerts/filing-northwest-ethical-investments-lp-has-2432-million-stake-in-bank-of-america-corporation-nysebac-2025-08-17/