Montchanin Asset Management LLC reduced its position in Truist Financial Co. (NYSE:TFC - Free Report) by 55.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,190 shares of the insurance provider's stock after selling 6,500 shares during the quarter. Montchanin Asset Management LLC's holdings in Truist Financial were worth $225,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of TFC. Comerica Bank lifted its holdings in Truist Financial by 3.6% in the 4th quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock valued at $19,499,000 after purchasing an additional 15,499 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Truist Financial by 81.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider's stock valued at $48,085,000 after purchasing an additional 498,531 shares in the last quarter. Country Club Bank lifted its holdings in Truist Financial by 719.8% in the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider's stock valued at $1,973,000 after purchasing an additional 39,949 shares in the last quarter. David Wealth Management LLC purchased a new position in Truist Financial in the 4th quarter valued at about $2,354,000. Finally, Stifel Financial Corp lifted its holdings in Truist Financial by 2.8% in the 4th quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider's stock valued at $97,291,000 after purchasing an additional 60,848 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.
Truist Financial Price Performance
TFC stock traded down $0.08 during mid-day trading on Thursday, reaching $39.27. 3,785,134 shares of the company traded hands, compared to its average volume of 8,260,107. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $51.42 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a fifty day moving average price of $38.68 and a 200-day moving average price of $43.00.
Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data 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 9.32% and a net margin of 15.59%. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. As a group, analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.
Truist Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.30%. Truist Financial's dividend payout ratio (DPR) is 61.36%.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. TD Cowen assumed coverage on shares of Truist Financial in a report on Thursday, May 15th. They issued a "hold" rating and a $44.00 target price on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. 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 report on Monday, April 21st. Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Finally, Citigroup lowered their price objective on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.83.
Get Our Latest Stock Analysis on Truist Financial
About Truist Financial
(
Free Report)
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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