Bank of America Stock Is Slumping. One Director Bought Up Shares.

Bank of America stock is down about 17% this year. Earnings in 2023 have been strong, but investors may be focused on the billions of dollars of bond losses the bank is sitting on. At the end of September, Bank of America had unrealized losses of $131.6 billion on the bonds it plans to hold to maturity, up from $105.8 billion at the end of June.

Woods didn’t comment on his stock purchase. A former vice chairman of Canadian Imperial Bank of Commerce , Woods last bought Bank of America stock on the open market in April 2017, when he paid $595,250 for 25,000 shares, an average price of $23.81 each.

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