Bank of America Corp (NYSE: BAC) CEO Bryan Moynihan has purchased $390,000 worth of BofA stock in the form of 30,000 shares of common stock on August, 23rd, 2010.
According to a regulatory filing with the U.S. Securities and Exchange Commission, Bank of America’s chief executive purchased 7,200 shares at $13.0295 each, 10,000 shares at $13.02 each, and 12,800 shares at $13.0293 each. Moynihan also indirectly owns 2,796 shares of company stock through his 401K Plan and 1,276 shares through a family trust.
Moynihan succeeded Kenneth Lewis as the top executive role at the bank at the beginning of this year. Moynihan first joined Bank of America Corp (NYSE: BAC) as president of Global Wealth and Investment Management, following the company’s 2004 merger with FleetBoston Financial.
Bank of America Corporation is a bank holding company, and a financial holding company. The Company is a financial institution, serving individual consumers, small and middle market businesses, large corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking subsidiaries (the Banks) and various nonbanking subsidiaries throughout the United States and in selected international markets, it provides a range of banking and nonbanking financial services and products through six business segments: Deposits, Global Card Services, Home Loans & Insurance, Global Banking, Global Markets, Global Wealth & Investment Management (GWIM), with the remaining operations recorded in All Other. On January 1, 2009, the Company completed the acquisition of Merrill Lynch.
Shares of Bank of America Corp (NYSE: BAC) traded flat on Monday at $12.87.
