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Bank Of America Rises 5% On Increased Customer Payments In February

Shares of Bank of America Corp. (BAC) are rising 5 percent on Wednesday's trading after the banking major said that its 67 million clients had made $294 billion in total payments during the month of February. This is a 16 percent rise from the same period last year.

This growth comes after a 5 percent increase in total payments in February 2021 when compared to pre-pandemic levels in February 2020. The bank said that this trend marks the continuation of strong consumer payments and spending observed in January, as well as a record $3.8 trillion in total payments in fiscal 2021.

Currently at $40.90, the stock has traded between $36.37 and $50.11 during the past 52 weeks.

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