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

Piscataqua Savings Bank trimmed its stake in Bank of America Co. (NYSE:BAC) by 2.0% in the fourth quarter, HoldingsChannel reports. 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 about 2.1% of Piscataqua Savings Bank’s portfolio, making the stock its 10th largest position. Piscataqua Savings Bank’s holdings in Bank of America were worth $2,433,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Kennebec Savings Bank acquired a new position in Bank of America during the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC increased its holdings in shares of Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc raised its position in shares of Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 852 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Bank of America in the 4th quarter worth $42,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Bank of America in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Ratings Changes

BAC has been the topic of a number of recent research reports. Evercore ISI dropped their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a report on Friday, October 18th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Oppenheimer upped their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Trading Up 0.2 %

Shares of Bank of America stock 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 market cap of $356.60 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.24 and a beta of 1.33. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same period in the previous year, the business earned $0.70 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities analysts expect that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Bank of America 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.