Truist Financial Corporation $TFC Stock Holdings Lowered by Dodge & Cox

Key Points

• Dodge & Cox reduced its stake in Truist Financial Corporation by 61.8%, selling 34,834 shares and retaining a total of 21,512 shares valued at approximately $885,000.
• Truist Financial reported quarterly earnings of $0.91 per share, missing estimates by $0.02, with a significant year-over-year revenue decline of 406.0%.
• The company announced a quarterly dividend of $0.52, with a dividend yield of 4.5%, scheduled for distribution on September 2nd.

Dodge & Cox cut its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 61.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,512 shares of the insurance provider's stock after selling 34,834 shares during the period. Dodge & Cox's holdings in Truist Financial were worth $885,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Navigoe LLC acquired a new position in Truist Financial during the 4th quarter worth approximately $26,000. Centennial Bank AR raised its position in Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 580 shares during the last quarter. Motco raised its position in Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 649 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Truist Financial by 115.3% in the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock valued at $36,000 after buying an additional 468 shares during the period. Finally, Sierra Ocean LLC increased its position in Truist Financial by 64.4% during the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock worth $37,000 after purchasing an additional 352 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the transaction, the insider owned 500 shares of the company's stock, valued at $22,595. The trade was a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. TD Cowen began coverage on shares of Truist Financial in a report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price target for the company. Morgan Stanley reissued a "mixed" rating on shares of Truist Financial in a research note on Monday, July 21st. Wells Fargo & Company reissued an "equal weight" rating and issued a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Keefe, Bruyette & Woods cut shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price target on the stock. in a research note on Wednesday, July 9th. Finally, Raymond James Financial raised shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.47.

Truist Financial Stock Up 1.0%

Shares of NYSE TFC traded up $0.47 during trading on Wednesday, reaching $46.83. 8,546,273 shares of the stock were exchanged, compared to its average volume of 8,490,184. The business's 50-day moving average price is $44.04 and its 200 day moving average price is $41.75. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $60.38 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.70 and a beta of 0.87.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The company's revenue for the quarter was down 406.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, equities analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, August 8th. Truist Financial's dividend payout ratio (DPR) is currently 56.68%.

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.