Bank of America Corp DE Increases Stock Holdings in Payoneer Global Inc. (NASDAQ:PAYO)

Bank of America Corp DE raised its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 34.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,508,530 shares of the company's stock after buying an additional 636,473 shares during the period. Bank of America Corp DE owned approximately 0.70% of Payoneer Global worth $25,186,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Payoneer Global by 352.8% during the third quarter. Barclays PLC now owns 498,727 shares of the company's stock worth $3,755,000 after buying an additional 388,584 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Payoneer Global by 29.3% during the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company's stock worth $45,000 after purchasing an additional 1,016 shares in the last quarter. KBC Group NV raised its holdings in shares of Payoneer Global by 86.6% during the fourth quarter. KBC Group NV now owns 14,619 shares of the company's stock worth $147,000 after acquiring an additional 6,784 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Payoneer Global during the fourth quarter worth $1,233,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of Payoneer Global by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 145,923 shares of the company's stock worth $1,465,000 after acquiring an additional 1,498 shares during the period. 82.22% of the stock is owned by institutional investors and hedge funds.

Payoneer Global Stock Down 0.9%

Shares of Payoneer Global stock traded down $0.06 during trading on Friday, reaching $6.81. The company's stock had a trading volume of 1,819,621 shares, compared to its average volume of 3,191,560. Payoneer Global Inc. has a 52-week low of $5.03 and a 52-week high of $11.29. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 2.88 and a beta of 1.03. The firm's 50-day moving average is $6.89 and its two-hundred day moving average is $8.93.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The firm had revenue of $246.62 million for the quarter, compared to the consensus estimate of $244.52 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. The company's quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts anticipate that Payoneer Global Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Citigroup reissued a "buy" rating and issued a $10.00 price objective (down previously from $13.00) on shares of Payoneer Global in a research report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Payoneer Global in a research report on Monday, February 3rd. They issued a "buy" rating and a $13.00 price objective for the company. Keefe, Bruyette & Woods raised shares of Payoneer Global from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $7.00 to $9.00 in a research report on Tuesday, May 13th. Needham & Company LLC decreased their price objective on shares of Payoneer Global from $14.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $10.71.

About Payoneer Global

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.