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

Bank of America Corp DE decreased its stake in Tim S.A. (NYSE:TIMB - Free Report) by 51.9% in the fourth 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. grew its holdings in TIM by 13.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 132,198 shares of the company's stock valued at $1,555,000 after purchasing an additional 16,000 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of TIM during the fourth quarter valued at approximately $330,000. BNP Paribas Financial Markets bought a new position in shares of TIM during the fourth quarter valued at approximately $338,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of TIM in the fourth quarter worth approximately $259,000. Finally, Jane Street Group LLC raised its holdings in shares of TIM by 99.9% in the fourth quarter. Jane Street Group LLC now owns 24,982 shares of the company's stock worth $294,000 after buying an additional 12,487 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TIMB. Scotiabank dropped their price objective on TIM from $23.20 to $17.60 and set a "sector outperform" rating for the company in a report on Wednesday, February 12th. Barclays set a $17.50 price objective on shares of TIM in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group raised their price target on shares of TIM from $15.30 to $16.90 and gave the company a "neutral" rating in a report on Wednesday, April 30th.

TIM Stock Performance

TIMB stock traded up $0.08 during midday trading on Friday, reaching $17.96. The stock had a trading volume of 346,290 shares, compared to its average volume of 500,257. The firm has a fifty day simple moving average of $16.40 and a two-hundred day simple moving average of $14.49. Tim S.A. has a 52-week low of $11.32 and a 52-week high of $18.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.93 and a current ratio of 0.97. The stock has a market cap of $8.70 billion, a PE ratio of 15.22, a P/E/G ratio of 0.67 and a beta of 0.60.

TIM (NYSE:TIMB - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $6.38 billion. TIM had a return on equity of 11.91% and a net margin of 12.24%. As a group, equities research analysts anticipate that Tim S.A. will post 1.34 EPS for the current year.

TIM Dividend Announcement

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Friday, May 23rd will be issued a $0.1086 dividend. This represents a dividend yield of 7.6%. The ex-dividend date is Friday, May 23rd. TIM's dividend payout ratio (DPR) is currently 68.00%.

TIM Profile

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.