Bangor Savings Bank Lowers Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Bangor Savings Bank lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 92.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,246 shares of the credit services provider’s stock after selling 16,363 shares during the quarter. Bangor Savings Bank’s holdings in PayPal were worth $83,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Resurgent Financial Advisors LLC purchased a new position in PayPal during the fourth quarter valued at $29,000. Lauer Wealth LLC purchased a new position in shares of PayPal in the 1st quarter worth about $31,000. Corrado Advisors LLC purchased a new position in shares of PayPal in the 4th quarter worth about $32,000. Dakota Community Bank & Trust NA raised its position in shares of PayPal by 168.8% in the 1st quarter. Dakota Community Bank & Trust NA now owns 422 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 265 shares during the last quarter. Finally, ZRC Wealth Management LLC purchased a new position in shares of PayPal in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PYPL. Credit Suisse Group reiterated a “neutral” rating and issued a $80.00 price objective on shares of PayPal in a report on Monday, July 24th. Piper Sandler reduced their price objective on PayPal from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, August 3rd. Atlantic Securities downgraded PayPal from an “overweight” rating to a “neutral” rating and set a $72.00 price objective for the company. in a report on Tuesday, June 13th. Oppenheimer reduced their price objective on PayPal from $89.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. Finally, Morgan Stanley reduced their price objective on PayPal from $133.00 to $126.00 and set an “overweight” rating for the company in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.03.

PayPal Stock Down 0.4 %

NASDAQ PYPL opened at $64.21 on Friday. The stock’s 50 day moving average is $66.09 and its 200 day moving average is $68.48. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54. PayPal Holdings, Inc. has a 12 month low of $57.29 and a 12 month high of $95.64. The stock has a market cap of $70.51 billion, a PE ratio of 17.94, a P/E/G ratio of 0.97 and a beta of 1.34.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $1.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.16. The business had revenue of $7.29 billion for the quarter, compared to analysts’ expectations of $7.27 billion. PayPal had a return on equity of 20.31% and a net margin of 14.27%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. Research analysts predict that PayPal Holdings, Inc. will post 3.81 EPS for the current fiscal year.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.