Piscataqua Savings Bank Sells 1,151 Shares of Bank of America Co. (NYSE:BAC)

Piscataqua Savings Bank lowered its stake in Bank of America Co. (NYSE:BAC) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,354 shares of the financial services provider’s stock after selling 1,151 shares during the period. Bank of America makes up 2.1% of Piscataqua Savings Bank’s holdings, making the stock its 10th biggest holding. Piscataqua Savings Bank’s holdings in Bank of America were worth $2,433,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Deerfield Management Company L.P. Series C bought a new stake in shares of Bank of America during the 2nd quarter worth approximately $240,000. Driehaus Capital Management LLC raised its position in Bank of America by 56.8% during the second quarter. Driehaus Capital Management LLC now owns 21,993 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 7,964 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in Bank of America by 13.5% during the second quarter. SkyView Investment Advisors LLC now owns 14,957 shares of the financial services provider’s stock worth $595,000 after purchasing an additional 1,783 shares during the last quarter. Ascent Group LLC lifted its stake in Bank of America by 4.2% during the second quarter. Ascent Group LLC now owns 111,551 shares of the financial services provider’s stock worth $4,436,000 after purchasing an additional 4,494 shares during the last quarter. Finally, Doheny Asset Management CA boosted its holdings in shares of Bank of America by 785.9% in the 2nd quarter. Doheny Asset Management CA now owns 58,910 shares of the financial services provider’s stock valued at $2,343,000 after purchasing an additional 52,260 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BAC. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Evercore ISI decreased their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a research note on Friday, October 18th. Finally, UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Up 0.2 %

Shares of NYSE BAC opened at $46.48 on Monday. The company’s 50 day moving average price is $45.82 and its 200-day moving average price is $42.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a 52-week low of $32.35 and a 52-week high of $48.08. The company has a market capitalization of $356.60 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. Bank of America’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America Company Profile

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.