Brown Advisory Inc. Cuts Stock Holdings in Truist Financial Corporation (NYSE:TFC)

Brown Advisory Inc. lessened its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,011 shares of the insurance provider's stock after selling 7,858 shares during the quarter. Brown Advisory Inc.'s holdings in Truist Financial were worth $11,029,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock valued at $1,023,000 after buying an additional 14,093 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Truist Financial during the fourth quarter valued at approximately $5,452,000. Larson Financial Group LLC lifted its stake in shares of Truist Financial by 24.1% in the 4th quarter. Larson Financial Group LLC now owns 1,841 shares of the insurance provider's stock valued at $80,000 after purchasing an additional 358 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of Truist Financial by 127.7% in the 4th quarter. AlphaQuest LLC now owns 10,824 shares of the insurance provider's stock worth $470,000 after purchasing an additional 6,070 shares during the period. Finally, Johnson Investment Counsel Inc. increased its position in shares of Truist Financial by 74.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 13,276 shares of the insurance provider's stock valued at $576,000 after purchasing an additional 5,650 shares during the last quarter. Institutional investors own 71.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TFC shares. TD Cowen began coverage on Truist Financial in a research report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price target for the company. Wells Fargo & Company lowered their target price on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Piper Sandler cut their price target on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their price objective on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Finally, Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.44.

Truist Financial Price Performance

NYSE TFC traded down $0.04 on Friday, hitting $45.46. The company had a trading volume of 8,319,455 shares, compared to its average volume of 8,327,899. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The company has a market capitalization of $59.53 billion, a PE ratio of 12.43, a PEG ratio of 1.69 and a beta of 0.85. The company's fifty day moving average price is $40.98 and its 200-day moving average price is $42.01.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business posted $0.90 earnings per share. As a group, analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's payout ratio is 61.36%.

Truist Financial Company Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.