Bank of America Corp DE Sells 14,481 Shares of Kforce Inc. (NASDAQ:KFRC)

Bank of America Corp DE trimmed its stake in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) by 29.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,111 shares of the business services provider's stock after selling 14,481 shares during the period. Bank of America Corp DE owned about 0.18% of Kforce worth $1,991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atria Investments Inc grew its position in Kforce by 3.1% in the fourth quarter. Atria Investments Inc now owns 7,058 shares of the business services provider's stock valued at $400,000 after purchasing an additional 209 shares in the last quarter. Access Investment Management LLC grew its position in Kforce by 0.7% in the fourth quarter. Access Investment Management LLC now owns 36,605 shares of the business services provider's stock valued at $2,076,000 after purchasing an additional 265 shares in the last quarter. Blue Trust Inc. grew its position in Kforce by 17.9% in the fourth quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider's stock valued at $111,000 after purchasing an additional 275 shares in the last quarter. MetLife Investment Management LLC grew its position in Kforce by 2.9% in the fourth quarter. MetLife Investment Management LLC now owns 11,189 shares of the business services provider's stock valued at $634,000 after purchasing an additional 312 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Kforce by 23.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,547 shares of the business services provider's stock valued at $144,000 after purchasing an additional 485 shares in the last quarter. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KFRC shares. Wall Street Zen downgraded shares of Kforce from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. UBS Group decreased their target price on shares of Kforce from $47.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Finally, Truist Financial decreased their target price on shares of Kforce from $58.00 to $50.00 and set a "hold" rating for the company in a research report on Tuesday, April 15th.

Kforce Stock Performance

Shares of KFRC traded up $0.29 during midday trading on Friday, reaching $41.34. The stock had a trading volume of 91,813 shares, compared to its average volume of 131,673. The firm has a 50 day simple moving average of $42.27 and a 200-day simple moving average of $50.15. Kforce Inc. has a one year low of $35.50 and a one year high of $71.48. The firm has a market cap of $770.16 million, a PE ratio of 15.43 and a beta of 0.75. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16.

Kforce (NASDAQ:KFRC - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The business services provider reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.03). Kforce had a net margin of 3.59% and a return on equity of 30.34%. The firm had revenue of $330.03 million during the quarter, compared to the consensus estimate of $334.61 million. During the same period last year, the business earned $0.58 EPS. The business's revenue was down 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Kforce Inc. will post 2.7 EPS for the current year.

Kforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, June 13th. Kforce's dividend payout ratio (DPR) is presently 61.18%.

Insider Activity

In other news, Director David L. Dunkel acquired 1,000 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $37.80 per share, with a total value of $37,800.00. Following the transaction, the director now directly owns 517,329 shares in the company, valued at approximately $19,555,036.20. The trade was a 0.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company's stock.

Kforce Profile

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.