Bank of America stock today: BAC slips after $1B staff share award as rate-cap worries swirl
Bank of America Corporation shares slipped 0.3% to $52.83 on Tuesday following the announcement that it will grant roughly $1 billion in stock to employees outside senior management. CEO Brian Moynihan said, “when our teammates share in our company’s success, it strengthens our business and the communities we serve.” The bank said the awards represent nearly 19 million shares and will be distributed to about 96% of its workforce, continuing the program for the ninth consecutive year.
