Kintegral Advisory LLC Lowers Position in Truist Financial Corporation (NYSE:TFC)

Kintegral Advisory LLC reduced its stake in Truist Financial Corporation (NYSE:TFC - Free Report) by 32.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,822 shares of the insurance provider's stock after selling 12,664 shares during the quarter. Kintegral Advisory LLC's holdings in Truist Financial were worth $1,063,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial during the 4th quarter valued at $26,000. Navigoe LLC bought a new position in Truist Financial during the fourth quarter valued at about $26,000. Rossby Financial LCC purchased a new stake in Truist Financial during the first quarter worth about $43,000. Curio Wealth LLC bought a new stake in Truist Financial in the fourth quarter worth about $45,000. Finally, TCTC Holdings LLC boosted its stake in Truist Financial by 28.1% in the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock valued at $57,000 after acquiring an additional 287 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

TFC stock traded up $0.29 during midday trading on Tuesday, reaching $45.45. The stock had a trading volume of 10,677,381 shares, compared to its average volume of 8,297,323. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The stock has a market cap of $59.52 billion, a PE ratio of 13.41, a P/E/G ratio of 1.68 and a beta of 0.85. The firm has a fifty day simple moving average of $40.71 and a two-hundred day simple moving average of $41.97.

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

Truist Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of research reports. Keefe, Bruyette & Woods lowered their price objective on Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. TD Cowen began coverage on shares of Truist Financial in a research report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price target on the stock. Citigroup raised shares of Truist Financial from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Wells Fargo & Company reduced their price objective on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Finally, Piper Sandler dropped their target price on Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Seven investment analysts have rated the stock with a hold rating, thirteen have given 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 $48.39.

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.