Bank of America CEO Moynihan spends about $390,000 to buy 30,000 company shares

BofA CEO buys 30,000 shares of company stock

CHARLOTTE, N.C. — A regulatory filing shows Bank of America Corp. 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.