GTS Securities LLC Sells 77,365 Shares of Truist Financial Co. (NYSE:TFC)

GTS Securities LLC lowered its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 72.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 29,594 shares of the insurance provider's stock after selling 77,365 shares during the period. GTS Securities LLC's holdings in Truist Financial were worth $1,284,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Comerica Bank raised its position in shares of Truist Financial by 3.6% during the fourth quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock valued at $19,499,000 after buying an additional 15,499 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Truist Financial by 81.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider's stock worth $48,085,000 after purchasing an additional 498,531 shares in the last quarter. Country Club Bank raised its position in Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider's stock worth $1,973,000 after purchasing an additional 39,949 shares in the last quarter. David Wealth Management LLC acquired a new position in Truist Financial in the fourth quarter worth about $2,354,000. Finally, Stifel Financial Corp raised its position in Truist Financial by 2.8% in the fourth quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider's stock worth $97,291,000 after purchasing an additional 60,848 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Wells Fargo & Company dropped their price target on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Raymond James lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Argus set a $43.00 price objective on shares of Truist Financial in a report on Monday, April 21st. Finally, Robert W. Baird raised shares of Truist Financial from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $47.83.

Truist Financial Price Performance

Shares of TFC traded down $0.30 during mid-day trading on Friday, hitting $39.30. 2,032,894 shares of the company traded hands, compared to its average volume of 8,255,366. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $38.63 and a 200 day moving average of $42.95. The stock has a market capitalization of $51.47 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.63 and a beta of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period last year, the firm earned $0.90 earnings per share. As a group, equities analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.29%. Truist Financial's payout ratio is presently 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.