Lloyd Advisory Services LLC. Purchases New Position in Bank of America Co. (NYSE:BAC)

Lloyd Advisory Services LLC. acquired a new stake in shares of Bank of America Co. (NYSE:BAC) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,510 shares of the financial services provider’s stock, valued at approximately $209,000.

Several other large investors have also recently bought and sold shares of the company. Fortis Group Advisors LLC bought a new stake in shares of Bank of America in the 3rd quarter valued at $25,000. Livelsberger Financial Advisory acquired a new stake in shares of Bank of America during the fourth quarter worth about $28,000. Criterion Capital Advisors LLC acquired a new stake in shares of Bank of America during the fourth quarter worth about $32,000. Northwest Investment Counselors LLC bought a new position in shares of Bank of America during the 1st quarter valued at about $33,000. Finally, Mark Sheptoff Financial Planning LLC grew its position in shares of Bank of America by 431.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 1,062 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 862 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

NYSE:BAC opened at $40.02 on Tuesday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. The firm has a fifty day simple moving average of $38.61 and a 200 day simple moving average of $35.89. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $40.34. The stock has a market capitalization of $312.97 billion, a PE ratio of 13.85, a P/E/G ratio of 1.76 and a beta of 1.36.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS. On average, research analysts expect that Bank of America Co. will post 3.21 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.24 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.96 annualized dividend and a yield of 2.40%. Bank of America’s dividend payout ratio is 33.22%.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. BMO Capital Markets upped their target price on shares of Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Citigroup increased their target price on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Jefferies Financial Group boosted their price target on Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, UBS Group reiterated a “neutral” rating and set a $40.00 price objective (up from $39.00) on shares of Bank of America in a report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bank of America has a consensus rating of “Hold” and a consensus price target of $39.79.

About Bank of America

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.