Ieq Capital LLC Sells 30,972 Shares of Truist Financial Corporation $TFC

Key Points

• Ieq Capital LLC reduced its stake in Truist Financial Corporation by **26.7%**, selling **30,972 shares** and now holding **85,098 shares** valued at approximately **$3.5 million**.
• Several institutional investors, including Invesco and American Century Companies, increased their positions in Truist Financial, with **Invesco** raising its stake by **32%** during the first quarter.
• Truist Financial recently announced a quarterly dividend of **$0.52** per share, representing a **4.4%** dividend yield, with a **payout ratio** of **56.68%**.

Ieq Capital LLC decreased its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 26.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,098 shares of the insurance provider's stock after selling 30,972 shares during the period. Ieq Capital LLC's holdings in Truist Financial were worth $3,502,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TFC. Centennial Bank AR grew its position in shares of Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock worth $30,000 after buying an additional 580 shares during the period. Motco grew its stake in shares of 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 buying an additional 649 shares during the period. Meeder Asset Management Inc. increased its position 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 in the last quarter. Sierra Ocean LLC boosted its holdings in Truist Financial by 64.4% in the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock worth $37,000 after acquiring an additional 352 shares in the last quarter. Finally, Rossby Financial LCC bought a new position in Truist Financial in the first quarter worth approximately $43,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC traded up $0.44 during mid-day trading on Thursday, hitting $46.85. The stock had a trading volume of 2,251,812 shares, compared to its average volume of 8,432,347. 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 current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average price of $44.77 and a 200-day moving average price of $41.78. The firm has a market cap of $60.41 billion, a P/E ratio of 12.77, a PEG ratio of 1.75 and a beta of 0.88.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share (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 the consensus estimate of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The company's revenue was down 406.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. On average, equities research analysts expect that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

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

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider owned 500 shares of the company's stock, valued at $22,595. The trade was a 96.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TFC. Morgan Stanley restated a "mixed" rating on shares of Truist Financial in a report on Monday, July 21st. Wall Street Zen upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $44.00 to $55.00 in a report on Thursday, June 26th. TD Cowen assumed coverage on shares of Truist Financial in a research report on Thursday, May 15th. They set a "hold" rating and a $44.00 target price for the company. 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 report on Tuesday, July 8th. Two 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.47.

About Truist Financial

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.