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BofA CEO Buys 30,000 Shares of Company Stock

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Published: Tuesday, 24 Aug 2010 | 4:16 AM ET
By: AP

A regulatory filing shows Bank of America CEO Brian Moynihan has bought 30,000 shares of common stock in the company, a possible signal to Wall Street that the executive believes BofA's stock is undervalued.

Documents filed with the Securities and Exchange Commission on Monday show Moynihan paid about $13.02 a share in three separate transactions for a total of roughly $390,000.

The stock purchase brings Moynihan's slice of BofA to 449,655 shares, not counting what he owns indirectly through his 401(k) account and a family trust.

BofA shares ended Monday unchanged at $12.87.

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A regulatory filing shows Bank of America CEO Brian Moynihan has bought 30,000 shares of common stock in the company, a possible signal to Wall Street that the executive believes BofA's stock is undervalued.
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