Bank of America Corp DE Purchases 5,081 Shares of CPI Card Group Inc. (NASDAQ:PMTS)

Bank of America Corp DE lifted its position in CPI Card Group Inc. (NASDAQ:PMTS) by 154.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,378 shares of the company’s stock after acquiring an additional 5,081 shares during the quarter. Bank of America Corp DE owned 0.08% of CPI Card Group worth $250,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Barclays PLC lifted its stake in CPI Card Group by 5.2% in the fourth quarter. Barclays PLC now owns 7,712 shares of the company’s stock worth $230,000 after purchasing an additional 382 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of CPI Card Group by 10.7% during the 4th quarter. BNP Paribas Financial Markets now owns 5,844 shares of the company’s stock worth $175,000 after acquiring an additional 563 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of CPI Card Group by 44.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,503 shares of the company’s stock worth $75,000 after acquiring an additional 776 shares during the last quarter. IFP Advisors Inc boosted its holdings in CPI Card Group by 96.6% during the 4th quarter. IFP Advisors Inc now owns 3,048 shares of the company’s stock valued at $91,000 after acquiring an additional 1,498 shares during the period. Finally, Russell Investments Group Ltd. grew its position in CPI Card Group by 1,635.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,649 shares of the company’s stock valued at $49,000 after acquiring an additional 1,554 shares during the last quarter. 22.08% of the stock is owned by hedge funds and other institutional investors.

CPI Card Group Price Performance

NASDAQ:PMTS opened at $22.33 on Friday. CPI Card Group Inc. has a 1-year low of $18.46 and a 1-year high of $35.19. The company has a 50-day moving average of $23.38 and a 200 day moving average of $27.90. The firm has a market cap of $251.90 million, a PE ratio of 17.05 and a beta of 1.36.

CPI Card Group (NASDAQ:PMTS) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.16). The business had revenue of $122.76 million during the quarter, compared to analysts’ expectations of $120.90 million. CPI Card Group had a negative return on equity of 46.90% and a net margin of 3.38%. Sell-side analysts anticipate that CPI Card Group Inc. will post 1.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen lowered shares of CPI Card Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 9th. Lake Street Capital lowered their price objective on shares of CPI Card Group from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. B. Riley upped their target price on shares of CPI Card Group from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Roth Mkm reaffirmed a “buy” rating and set a $40.00 price target on shares of CPI Card Group in a research note on Wednesday, March 5th. Finally, DA Davidson increased their price objective on CPI Card Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CPI Card Group has a consensus rating of “Buy” and a consensus price target of $36.75.

Insiders Place Their Bets

In other news, Chairman H Sanford Riley purchased 15,000 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was acquired at an average cost of $21.51 per share, with a total value of $322,650.00. Following the completion of the transaction, the chairman now owns 19,966 shares in the company, valued at $429,468.66. This represents a 302.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.80% of the stock is owned by company insiders.

CPI Card Group Company Profile

CPI Card Group Inc, together with its subsidiaries, engages in the design, production, data personalization, packaging, and fulfillment of financial payment cards. It operates through Debit and Credit, and Prepaid Debit segments. The Debit and Credit segment produces financial payment cards and provides integrated card services to card-issuing financial institutions.