Bank of America Corp DE Has $15.04 Million Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Bank of America Corp DE trimmed its position in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 16.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,855 shares of the construction company's stock after selling 79,205 shares during the quarter. Bank of America Corp DE owned approximately 0.44% of Tri Pointe Homes worth $15,043,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in TPH. Covestor Ltd raised its position in Tri Pointe Homes by 58.5% during the fourth quarter. Covestor Ltd now owns 908 shares of the construction company's stock valued at $33,000 after buying an additional 335 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Tri Pointe Homes by 84.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company's stock worth $49,000 after purchasing an additional 613 shares during the period. Assetmark Inc. grew its position in Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock valued at $66,000 after purchasing an additional 300 shares in the last quarter. Sterling Capital Management LLC increased its stake in Tri Pointe Homes by 729.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock valued at $75,000 after buying an additional 1,831 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in Tri Pointe Homes by 562.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company's stock valued at $81,000 after buying an additional 1,900 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TPH has been the topic of several research analyst reports. Evercore ISI lowered their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Oppenheimer dropped their target price on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Wedbush upgraded shares of Tri Pointe Homes from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $38.00 to $43.00 in a research note on Monday, April 28th. Royal Bank of Canada lowered shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Finally, Seaport Res Ptn raised shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Tri Pointe Homes presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.60.

Insider Buying and Selling at Tri Pointe Homes

In other news, CEO Douglas F. Bauer sold 120,287 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $30.15, for a total value of $3,626,653.05. Following the completion of the sale, the chief executive officer now directly owns 627,833 shares of the company's stock, valued at approximately $18,929,164.95. This represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.70% of the company's stock.

Tri Pointe Homes Stock Performance

TPH stock traded up $0.71 during midday trading on Tuesday, hitting $30.56. 831,217 shares of the company traded hands, compared to its average volume of 902,423. Tri Pointe Homes, Inc. has a twelve month low of $27.90 and a twelve month high of $47.78. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 6.33, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The business has a 50 day simple moving average of $30.82 and a 200-day simple moving average of $34.77.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its earnings results on Thursday, April 24th. The construction company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.25. The business had revenue of $720.79 million for the quarter, compared to analyst estimates of $713.65 million. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. Tri Pointe Homes's revenue was down 21.5% compared to the same quarter last year. During the same period last year, the business posted $1.03 EPS. As a group, equities research analysts predict that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes Company Profile

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.