Bank of America Corp BAC shares are trading lower by 4.56% to $27.65 Friday morning. Shares of several companies in the broader financial industry, including Bank of America, are trading lower on continued downward momentum in the sector amid volatility and stability concerns following multiple bank failures.

What's The Latest On Bank Stocks?

SVB Financial Group SIVB hasfiled a voluntary petitionfor a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court for the Southern District of New York to preserve value.

SVB Securities, SVB Capital's funds, and general partner entities are not included in the Chapter 11 filing. These businesses will continue to operate normally as SVB Financial Group proceeds with its previously announced exploration of strategic alternatives announced on Monday but did not disclosebankruptcy as one of the potential options…Read More

According to data fromBenzinga Pro, BAC has a 52-week high of $44.63 and a 52-week low of $27.64.

Articles You May Like

Canada shifting diplomats in India amid ‘threats’ – as visas suspended for its citizens
Jaguar signs deal with Tesla for Supercharger access, will adopt NACS
FTX sues Sam Bankman-Fried’s parents, aims to claw back some of the $26 million in gifts and property
Police officer charged with murder of Chris Kaba
Edwards to defend title vs. Covington at UFC 296