Truist Financial Corporation (NYSE:TFC) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 10.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 909,918 shares of the insurance provider's stock after selling 105,967 shares during the period. New York State Teachers Retirement System owned 0.07% of Truist Financial worth $37,443,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Hopwood Financial Services Inc. bought a new stake in Truist Financial during the 4th quarter valued at $26,000. Navigoe LLC purchased a new position in Truist Financial in the fourth quarter valued at about $26,000. Curio Wealth LLC bought a new position in Truist Financial in the fourth quarter worth about $45,000. TCTC Holdings LLC lifted its position in shares of Truist Financial by 28.1% during the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock valued at $57,000 after buying an additional 287 shares during the last quarter. Finally, Pinney & Scofield Inc. bought a new stake in shares of Truist Financial in the 4th quarter valued at about $57,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

TFC traded up $1.20 on Tuesday, reaching $44.19. The stock had a trading volume of 8,295,072 shares, compared to its average volume of 8,263,592. The business's 50-day moving average price is $39.82 and its two-hundred day moving average price is $41.91. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The company has a market cap of $57.87 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.58 and a beta of 0.84.

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. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. During the same quarter in the previous year, the firm earned $0.90 EPS. Sell-side analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.71%. Truist Financial's payout ratio is currently 61.36%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Argus set a $43.00 target price on shares of Truist Financial in a research report on Monday, April 21st. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Barclays decreased their price target on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Morgan Stanley dropped their price target on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods cut their price objective 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. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Truist Financial has a consensus rating of "Moderate Buy" and an average target price of $48.44.

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.