Piscataqua Savings Bank Has $2.35 Million Stake in Bank of America Co. (NYSE:BAC)

Piscataqua Savings Bank grew its holdings in Bank of America Co. (NYSE:BAC) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,349 shares of the financial services provider’s stock after purchasing an additional 995 shares during the period. Bank of America comprises 2.1% of Piscataqua Savings Bank’s portfolio, making the stock its 12th largest holding. Piscataqua Savings Bank’s holdings in Bank of America were worth $2,351,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Collier Financial acquired a new position in shares of Bank of America in the fourth quarter worth $25,000. Life Planning Partners Inc increased its holdings in Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after buying an additional 545,936 shares during the last quarter. Graney & King LLC acquired a new position in shares of Bank of America during the 4th quarter worth $25,000. Fairway Wealth LLC acquired a new position in shares of Bank of America during the 4th quarter worth $29,000. Finally, Vega Investment Solutions acquired a new position in shares of Bank of America during the 4th quarter worth $30,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Cfra Research increased their price objective on Bank of America to $47.00 and gave the company a “buy” rating in a report on Wednesday, April 16th. Piper Sandler lowered their price target on Bank of America from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Argus lowered their target price on shares of Bank of America from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Finally, Truist Financial lowered their target price on shares of Bank of America from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Bank of America Stock Up 1.4%

NYSE BAC opened at $45.01 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average is $40.71 and its two-hundred day moving average is $43.50. The company has a market capitalization of $339.01 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.21 and a beta of 1.30. Bank of America Co. has a 1-year low of $33.07 and a 1-year high of $48.08.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The company had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Equities analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.31%. Bank of America’s dividend payout ratio (DPR) is currently 30.95%.

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.