Suntrust Banks Inc. Boosts Holdings in Kforce, Inc. (KFRC)
Suntrust Banks Inc. grew its stake in shares of Kforce, Inc. (NASDAQ:KFRC) by 8.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 64,282 shares of the business services provider’s stock after buying an additional 5,008 shares during the quarter. Suntrust Banks Inc. owned approximately 0.25% of Kforce worth $1,259,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its stake in shares of Kforce by 612.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,340 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 4,590 shares during the last quarter. FNY Managed Accounts LLC boosted its holdings in shares of Kforce by 117.8% during the 2nd quarter. FNY Managed Accounts LLC now owns 5,445 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 2,945 shares in the last quarter. Dubuque Bank & Trust Co. boosted its holdings in shares of Kforce by 22.7% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 11,665 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 2,158 shares in the last quarter. AXA acquired a new stake in shares of Kforce during the 2nd quarter valued at $261,000. Finally, KBC Group NV acquired a new stake in shares of Kforce during the 2nd quarter valued at $266,000. Institutional investors own 78.42% of the company’s stock.
Shares of Kforce, Inc. (NASDAQ KFRC) opened at 20.45 on Wednesday. The company has a market cap of $517.18 million, a price-to-earnings ratio of 14.91 and a beta of 1.59. Kforce, Inc. has a 52-week low of $15.95 and a 52-week high of $26.95. The firm has a 50 day moving average price of $18.42 and a 200-day moving average price of $19.66.
Kforce (NASDAQ:KFRC) last released its earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The company had revenue of $340.31 million during the quarter, compared to the consensus estimate of $345.24 million. Kforce had a net margin of 2.64% and a return on equity of 29.67%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. Equities research analysts anticipate that Kforce, Inc. will post $1.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were paid a $0.12 dividend. The ex-dividend date was Thursday, September 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.35%. Kforce’s dividend payout ratio (DPR) is currently 35.04%.
KFRC has been the subject of a number of recent research reports. Zacks Investment Research raised Kforce from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine upgraded Kforce from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Deutsche Bank AG reduced their price target on Kforce from $25.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd. Robert W. Baird reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Kforce in a research note on Tuesday, September 12th. Finally, BidaskClub downgraded Kforce from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $24.20.
In other news, COO Kye L. Mitchell sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $17.99, for a total transaction of $89,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 13.30% of the stock is owned by insiders.
Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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