Bank of America Corp DE Sells 156,676 Shares of Tim S.A. (NYSE:TIMB)

Bank of America Corp DE decreased its position in shares of Tim S.A. (NYSE:TIMB - Free Report) by 51.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,156 shares of the company's stock after selling 156,676 shares during the period. Bank of America Corp DE's holdings in TIM were worth $1,707,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Global Retirement Partners LLC boosted 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 worth $29,000 after acquiring an additional 2,211 shares in the last quarter. Mariner LLC boosted its position in shares of TIM by 36.6% during the 4th quarter. Mariner LLC now owns 18,918 shares of the company's stock worth $222,000 after acquiring an additional 5,069 shares in the last quarter. Northern Trust Corp boosted its position in shares of TIM by 32.2% during the 4th quarter. Northern Trust Corp now owns 21,392 shares of the company's stock worth $252,000 after acquiring an additional 5,216 shares in the last quarter. Quantbot Technologies LP boosted its position in TIM by 30.2% in the fourth quarter. Quantbot Technologies LP now owns 50,570 shares of the company's stock valued at $595,000 after buying an additional 11,730 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in TIM in the fourth quarter valued at approximately $146,000.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TIMB shares. Barclays set a $17.50 target price on shares of TIM in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of TIM from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Scotiabank cut their target price on shares of TIM from $23.20 to $17.60 and set a "sector outperform" rating on the stock in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group raised their target price on shares of TIM from $15.30 to $16.90 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.33.

TIM Trading Up 0.4%

Shares of NYSE:TIMB traded up $0.08 during mid-day trading on Friday, reaching $17.96. 346,290 shares of the company's stock were exchanged, compared to its average volume of 501,828. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 0.67 and a beta of 0.60. The business's fifty day moving average price is $16.44 and its 200-day moving average price is $14.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.93 and a current ratio of 0.97. Tim S.A. has a twelve month low of $11.32 and a twelve month high of $18.29.

TIM (NYSE:TIMB - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $6.38 billion. TIM had a net margin of 12.24% and a return on equity of 11.91%. On average, research analysts predict that Tim S.A. will post 1.34 EPS for the current fiscal year.

TIM Announces Dividend

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