Truist Financial Corporation $TFC Position Reduced by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners Inc. reduced its stake in Truist Financial by 4.8% in the first quarter, holding approximately 1.23 million shares worth $50.6 million after the sale.
• Truist Financial reported a quarterly EPS of $0.91, missing analyst expectations by $0.02, and the company's revenue decreased significantly by 406% year-over-year.
• The firm announced a quarterly dividend of $0.52 per share, reflecting a 4.5% dividend yield and a payout ratio of 56.68%.

Epoch Investment Partners Inc. decreased its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,229,562 shares of the insurance provider's stock after selling 61,849 shares during the period. Epoch Investment Partners Inc. owned 0.09% of Truist Financial worth $50,596,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TFC. Navigoe LLC acquired a new stake in shares of Truist Financial during the 4th quarter worth $26,000. Centennial Bank AR grew its position in Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 580 shares during the period. Motco grew its position in Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 649 shares during the period. Meeder Asset Management Inc. increased its stake in Truist Financial by 115.3% during the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock worth $36,000 after acquiring an additional 468 shares during the last quarter. Finally, Sierra Ocean LLC raised its holdings in shares of Truist Financial by 64.4% in 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. Hedge funds and other institutional investors own 71.28% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TFC. Keefe, Bruyette & Woods cut Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price for the company. in a report on Wednesday, July 9th. Morgan Stanley reiterated a "mixed" rating on shares of Truist Financial in a research note on Monday, July 21st. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Raymond James Financial raised shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a research note on Tuesday, July 8th. Finally, Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and raised their price objective for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Truist Financial has an average rating of "Moderate Buy" and a consensus price target of $48.47.

Truist Financial Stock Up 0.2%

Shares of TFC stock traded up $0.10 on Monday, hitting $46.89. The stock had a trading volume of 9,362,994 shares, compared to its average volume of 6,777,159. The stock's 50 day moving average is $44.45 and its 200-day moving average is $41.71. The firm has a market capitalization of $60.46 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.75 and a beta of 0.88. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data 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 during 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 business's quarterly revenue was down 406.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. As a group, research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

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

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider directly owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

Truist Financial 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.