Trilogy Capital Inc. Makes New $214,000 Investment in Bank of America Co. (NYSE:BAC)

Trilogy Capital Inc. bought a new position in Bank of America Co. (NYSE:BAC) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,646 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other hedge funds have also bought and sold shares of BAC. Fortis Group Advisors LLC purchased a new position in Bank of America in the 3rd quarter worth about $25,000. Livelsberger Financial Advisory purchased a new stake in shares of Bank of America during the 4th quarter valued at about $28,000. Criterion Capital Advisors LLC purchased a new stake in shares of Bank of America during the 4th quarter valued at about $32,000. Northwest Investment Counselors LLC purchased a new stake in shares of Bank of America during the 1st quarter valued at about $33,000. Finally, Mark Sheptoff Financial Planning LLC increased its position in shares of Bank of America by 431.0% during 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 last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

BAC stock traded up $0.52 during midday trading on Friday, hitting $39.77. The company’s stock had a trading volume of 52,028,200 shares, compared to its average volume of 35,164,596. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $40.34. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $311.02 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.52 and a beta of 1.36. The company has a 50 day moving average of $38.91 and a two-hundred day moving average of $36.10.

Bank of America (NYSE:BAC) last posted its earnings results 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 firm had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 EPS. On average, analysts expect that Bank of America Co. will post 3.22 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.41%. Bank of America’s dividend payout ratio is currently 33.22%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BAC. Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. StockNews.com lowered shares of Bank of America from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Piper Sandler upped their price target on shares of Bank of America from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Tuesday, June 4th. Keefe, Bruyette & Woods upgraded Bank of America from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $37.00 to $46.00 in a research note on Friday, June 14th. Finally, BMO Capital Markets boosted their price objective on Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Bank of America presently has a consensus rating of “Hold” and a consensus target price 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.