Bank of America (NYSE: BAC), a financial service provider disclosed Thursday that it will redeem all €1,000,000,000 principal amount outstanding of its Floating Rate Senior Notes on September 21, 2020. The redemption price will be equal to the Optional Redemption Amount of €1,000 per €1,000 Calculation Amount, plus accrued and unpaid interest.
Previously, it has disclosed that it is planning to incorporate diversity analysis of assets manager after receiving lots of client’s requests. It has launched this initiative to promote the representation of women and people of color among assets managers on its platform.
Bank of America announced that in the first quarter the Due Diligence team of the CIO will work on the investment process to increase its efficiency and analyze the policies of all assets managers on diversity and its implementation at both organizational and investment team levels.
Shares of Bank of America (NYSE: BAC) traded up 1.21% and gained +0.31 on Wednesday. It has a day low range of $25.49 and a day high range of $26.16. BAC has opened at 25.53 and has a closing price of $26.02. It had recorded the trading volume of 57.3 million as compared to the average volume of 66.31 million.
In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $17.95 and a high of $35.72. Bank of America has moved up 44.96% from its 52-weeks low and moved down -27.16% from its 52-weeks high. Its market capitalization remained high, hitting 223.03 billion.
Focusing on its profitability, it has a return on assets of 0.70%. Its return on investment is 6.00%, and the return on equity is 7.80%. It has a Profit Margin of 29.70%, and an operating margin of 56.20%.
Renowned investor Warren Buffet is best known for choosing the best stocks. It has been revealed that Buffet has increased its holding in BAC to 1.03 billion shares since July 20 and holds an 11.9% stake in Bank of America. BAC is considered to be best as it is still profitable during the pandemic phase. BAC stock’s 12-month price-to-earnings ratio is very reasonable 12.42.