Bank of America Corp DE Trims Stock Position in Tim S.A. (NYSE:TIMB)

Bank of America Corp DE lessened its position in shares of Tim S.A. (NYSE:TIMB) by 51.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 145,156 shares of the company’s stock after selling 156,676 shares during the quarter. Bank of America Corp DE’s holdings in TIM were worth $1,707,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC raised its position in shares of TIM by 1,005.0% during the 4th quarter. Global Retirement Partners LLC now owns 2,431 shares of the company’s stock valued at $29,000 after buying an additional 2,211 shares during the period. EntryPoint Capital LLC acquired a new position in TIM during the fourth quarter worth $146,000. Banco BTG Pactual S.A. acquired a new position in TIM during the fourth quarter worth $220,000. Mariner LLC lifted its stake in TIM by 36.6% during the fourth quarter. Mariner LLC now owns 18,918 shares of the company’s stock worth $222,000 after purchasing an additional 5,069 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in TIM during the fourth quarter worth $230,000.

TIM Stock Up 3.4%

TIM stock opened at $18.12 on Thursday. Tim S.A. has a twelve month low of $11.32 and a twelve month high of $18.29. The stock’s fifty day simple moving average is $16.35 and its 200-day simple moving average is $14.47. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $8.77 billion, a P/E ratio of 15.36, a P/E/G ratio of 0.67 and a beta of 0.60.

TIM (NYSE:TIMB) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. TIM had a return on equity of 11.91% and a net margin of 12.24%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $6.38 billion. As a group, equities analysts expect that Tim S.A. will post 1.34 earnings per share for the current fiscal year.

TIM Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.1086 per share. This represents a dividend yield of 7.6%. The ex-dividend date is Friday, May 23rd. TIM’s dividend payout ratio is currently 68.00%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Scotiabank decreased their price target on TIM from $23.20 to $17.60 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 12th. Barclays set a $17.50 price target on TIM in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group upped their price target on TIM from $15.30 to $16.90 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th.

About TIM

TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.