Mizuho Securities USA LLC Sells 20,452 Shares of Truist Financial Corporation (NYSE:TFC)

Key Points

• Mizuho Securities USA LLC has decreased its holdings in Truist Financial Corporation by 16.3%, selling 20,452 shares and now owning 105,367 shares valued at $4,336,000.
• Insider Bradley D. Bender sold 12,540 shares of Truist at an average price of $45.19, resulting in a total transaction of approximately $566,682.
• Truist Financial is expected to post 4 EPS for the current fiscal year based on analyst forecasts, with a recent quarterly earnings report revealing a miss against consensus estimates.

Mizuho Securities USA LLC decreased its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 16.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 105,367 shares of the insurance provider's stock after selling 20,452 shares during the period. Mizuho Securities USA LLC's holdings in Truist Financial were worth $4,336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Manchester Capital Management LLC raised its position in shares of Truist Financial by 8.0% during the 1st quarter. Manchester Capital Management LLC now owns 3,898 shares of the insurance provider's stock valued at $160,000 after acquiring an additional 288 shares during the last quarter. Integrated Advisors Network LLC raised its position in shares of Truist Financial by 4.8% during the 4th quarter. Integrated Advisors Network LLC now owns 6,316 shares of the insurance provider's stock valued at $274,000 after acquiring an additional 291 shares during the last quarter. McKinley Carter Wealth Services Inc. raised its position in shares of Truist Financial by 1.6% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 19,657 shares of the insurance provider's stock valued at $809,000 after acquiring an additional 305 shares during the last quarter. Poehling Capital Management INC. raised its position in shares of Truist Financial by 0.6% during the 4th quarter. Poehling Capital Management INC. now owns 51,201 shares of the insurance provider's stock valued at $2,221,000 after acquiring an additional 307 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. raised its position in shares of Truist Financial by 1.9% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 16,587 shares of the insurance provider's stock valued at $683,000 after acquiring an additional 309 shares during the last quarter. Institutional investors own 71.28% of the company's stock.

Insider Activity at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the transaction, the insider directly owned 500 shares in the company, valued at $22,595. This represents a 96.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Price Performance

TFC stock opened at $43.08 on Friday. The stock has a 50-day moving average price of $42.86 and a two-hundred day moving average price of $41.98. The stock has a market cap of $55.55 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 1.61 and a beta of 0.87. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last posted 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). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the prior year, the company earned $0.91 earnings per share. The company's quarterly revenue was down 406.0% on a year-over-year basis. Equities analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Friday, August 8th. Truist Financial's dividend payout ratio is currently 56.68%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TFC. Morgan Stanley reiterated a "mixed" rating on shares of Truist Financial in a research report on Monday, July 21st. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and upped their price objective for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Raymond James Financial upgraded shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Piper Sandler lowered their price objective on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.65.

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.

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