Moloney Securities Asset Management LLC Trims Stake in Truist Financial Corporation (NYSE:TFC)

Moloney Securities Asset Management LLC cut its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 24.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,567 shares of the insurance provider's stock after selling 16,570 shares during the period. Moloney Securities Asset Management LLC's holdings in Truist Financial were worth $2,122,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. TIAA Trust National Association lifted its position in Truist Financial by 1.2% in the 4th quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider's stock valued at $1,033,000 after acquiring an additional 283 shares in the last quarter. TCTC Holdings LLC lifted its position 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 acquiring an additional 287 shares in the last quarter. Meeder Advisory Services Inc. lifted 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 valued at $1,231,000 after acquiring an additional 288 shares in the last quarter. Integrated Advisors Network LLC lifted its position in Truist Financial by 4.8% in 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 in the last quarter. Finally, McKinley Carter Wealth Services Inc. lifted its position in Truist Financial by 1.6% in 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 in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TFC shares. Keefe, Bruyette & Woods cut shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price target on the stock. in a research report on Wednesday. Piper Sandler dropped 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. TD Cowen started 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. Wells Fargo & Company dropped their price target on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, Argus set a $43.00 target price on shares of Truist Financial in a research report on Monday, April 21st. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $48.44.

Truist Financial Stock Performance

Truist Financial stock traded down $0.04 during mid-day trading on Friday, reaching $45.46. The company's stock had a trading volume of 8,319,455 shares, compared to its average volume of 8,340,705. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The company has a market capitalization of $59.53 billion, a P/E ratio of 13.41, a PEG ratio of 1.69 and a beta of 0.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. The firm's fifty day moving average price is $41.10 and its two-hundred day moving average price is $42.01.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share 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 8.96%. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business earned $0.90 EPS. Sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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