Lecap Asset Management Ltd. Sells 20,496 Shares of Truist Financial Corporation (NYSE:TFC)

Lecap Asset Management Ltd. trimmed its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 70.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,416 shares of the insurance provider's stock after selling 20,496 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Truist Financial were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FWG Holdings LLC boosted its holdings in Truist Financial by 4.3% during the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock valued at $267,000 after acquiring an additional 234 shares during the period. Nwam LLC boosted its stake in Truist Financial by 3.2% during the 4th quarter. Nwam LLC now owns 8,395 shares of the insurance provider's stock valued at $364,000 after purchasing an additional 263 shares during the period. TIAA Trust National Association boosted its stake in Truist Financial by 1.2% during the 4th quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider's stock valued at $1,033,000 after purchasing an additional 283 shares during the period. TCTC Holdings LLC grew its holdings in Truist Financial by 28.1% in the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock valued at $57,000 after buying an additional 287 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its position in Truist Financial by 1.0% in the 4th quarter. Meeder Advisory Services Inc. now owns 28,385 shares of the insurance provider's stock worth $1,231,000 after buying an additional 288 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TFC has been the subject of several research reports. Baird R W raised Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Morgan Stanley cut their target price on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Piper Sandler decreased their price target on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. dropped their price objective on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Barclays cut their price objective on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Truist Financial has an average rating of "Moderate Buy" and a consensus target price of $48.44.

Truist Financial Price Performance

Shares of TFC traded up $0.44 during mid-day trading on Monday, reaching $43.05. The company had a trading volume of 7,689,109 shares, compared to its average volume of 8,263,464. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $56.38 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.58 and a beta of 0.84. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company's 50-day moving average is $39.82 and its 200-day moving average is $41.91.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts' consensus estimates of $0.87. The firm had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.99 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. During the same period in the prior year, the business posted $0.90 earnings per share. On average, equities analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is currently 61.36%.

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.