Mutual of America Capital Management LLC Sells 6,001 Shares of Truist Financial Corporation (NYSE:TFC)

Key Points

• Mutual of America Capital Management LLC reduced its stake in Truist Financial by 3.8%, selling 6,001 shares and retaining 153,037 shares valued at approximately $6.3 million.
• Truist Financial reported Q2 earnings of $0.91 EPS, falling short of the consensus estimate of $0.93, with revenue remaining stable at $5.04 billion compared to the previous year.
• The company announced a quarterly dividend of $0.52 per share, yielding 4.9%, with the ex-dividend date set for August 8th.

Mutual of America Capital Management LLC decreased its holdings in Truist Financial Corporation (NYSE:TFC - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 153,037 shares of the insurance provider's stock after selling 6,001 shares during the quarter. Mutual of America Capital Management LLC's holdings in Truist Financial were worth $6,297,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Navigoe LLC bought a new stake in shares of Truist Financial during the fourth quarter worth $26,000. Centennial Bank AR raised its position in shares of Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock worth $30,000 after acquiring an additional 580 shares during the last quarter. Sierra Ocean LLC raised its position in shares of Truist Financial by 64.4% during the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock worth $37,000 after acquiring an additional 352 shares during the last quarter. Rossby Financial LCC bought a new stake in shares of Truist Financial during the first quarter worth $43,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of Truist Financial during the fourth quarter worth $57,000. Institutional investors own 71.28% of the company's stock.

Truist Financial Trading Up 0.5%

NYSE:TFC traded up $0.23 on Friday, reaching $43.08. The company's stock had a trading volume of 5,313,847 shares, compared to its average volume of 7,826,328. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $55.55 billion, a PE ratio of 11.74, a PEG ratio of 1.60 and a beta of 0.87. The business's 50-day moving average price is $42.86 and its two-hundred day moving average price is $42.01. 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 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%. The firm's quarterly revenue was down 406.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 earnings per share. Equities research analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Argus set a $43.00 target price on Truist Financial in a research report on Monday, April 21st. TD Cowen initiated coverage on Truist Financial in a report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective for the company. Stephens dropped their price objective on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Barclays dropped their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Finally, Morgan Stanley reiterated a "mixed" rating on shares of Truist Financial in a report on Monday, July 21st. Seven equities research 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 stock. Based on data from MarketBeat, Truist Financial has an average rating of "Moderate Buy" and an average price target of $48.65.

Insider Transactions at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider owned 500 shares in the company, valued at approximately $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company's stock.

About Truist Financial

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.