Bank of America CEO Moynihan Buys $391,000 of Stock

Bank of AmericaBrian Moynihan, CEO of Bank of America Corp. (BAC), bought 30,000 shares in the company on Monday.

Moynihan paid $391,000, or $13.03 a share, for the stock, Dow Jones Newswires reported. The purchase could be seen as a sign of confidence in the bank as its shares hover near a 52-week low.

Bank of America's shares have lagged broader stock-market indexes since the bank reported earnings last month. Moynihan said July that Congress's efforts to reform the financial system would cost the bank more than $10 billion.
Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.