Bank of America
CEO Ken Lewis bought 200,000 shares of the company's stock as it slipped to lows not seen in almost two decades, according to a regulatory filing submitted Thursday.
Filings with the
Securities and Exchange Commission
show Lewis bought BofA common shares at prices between $4.78 and $4.81 for a total transaction value of $958,340. The stock hit an intraday low of $4.62, before closing at $4.70 on Wednesday.
Lewis bought 75,000 shares at $4.78, 66,000 shares at $4.79, 50,000 at $4.81 and 9,000 shares at $4.80.
The foray into BofA stock is Lewis' second of the year. On Jan. 20,
200,000 shares in BofA, and other board members joined him for a total insider purchase of more than 500,000 shares. The purchases at that time were made at prices between $5.98 and $6.06.
After earlier skidding some 20% to multiyear lows earlier in the session, BofA shares closed up 3% to $4.84 on Thursday.