Montchanin Asset Management LLC Decreases Stock Holdings in Truist Financial Co. (NYSE:TFC)

Montchanin Asset Management LLC decreased its position in Truist Financial Co. (NYSE:TFC - Free Report) by 55.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,190 shares of the insurance provider's stock after selling 6,500 shares during the period. Montchanin Asset Management LLC's holdings in Truist Financial were worth $225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors boosted its holdings in Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock worth $3,930,983,000 after buying an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Truist Financial by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock worth $1,210,348,000 after buying an additional 534,740 shares in the last quarter. Amundi boosted its holdings in Truist Financial by 6.5% during the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock worth $1,040,718,000 after buying an additional 1,450,323 shares in the last quarter. Northern Trust Corp boosted its holdings in Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock worth $626,154,000 after buying an additional 2,452,239 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Truist Financial by 13.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider's stock worth $465,827,000 after buying an additional 1,307,252 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Trading Down 1.7%

TFC stock traded down $0.67 on Wednesday, hitting $39.36. 8,109,159 shares of the company were exchanged, compared to its average volume of 8,266,897. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. 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 business's fifty day moving average is $38.72 and its two-hundred day moving average is $43.03. The stock has a market capitalization of $51.54 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly 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 net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the business posted $0.90 earnings per share. As a group, research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.28%. The ex-dividend date is Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is 61.36%.

Analyst Ratings Changes

A number of research firms recently commented on TFC. Robert W. Baird raised shares of Truist Financial from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Wall Street Zen upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods cut their target price on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Stephens cut their target price on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Barclays cut their target price 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. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of "Moderate Buy" and an average target price of $47.83.

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.