Nomura Holdings Inc. Sells 15,301 Shares of Truist Financial Corporation $TFC

Key Points

• Nomura Holdings Inc. has reduced its stake in Truist Financial Corporation by 26.9%, selling 15,301 shares and now owning 41,544 shares valued at approximately $1.71 million.
• Other institutional investors have increased their positions, with Invesco Ltd. boosting its holdings by 32%, now owning over 13 million shares worth more than $540 million.
• Truist Financial recently announced a quarterly dividend of $0.52, yielding 4.5%, with a payout ratio of 56.68%.

Nomura Holdings Inc. decreased its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 26.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,544 shares of the insurance provider's stock after selling 15,301 shares during the period. Nomura Holdings Inc.'s holdings in Truist Financial were worth $1,710,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Invesco Ltd. raised its holdings in Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock worth $540,723,000 after buying an additional 3,188,999 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Truist Financial by 21.8% during the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider's stock worth $495,509,000 after acquiring an additional 2,158,639 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 acquiring an additional 1,307,252 shares during the last quarter. Federated Hermes Inc. lifted its position in Truist Financial by 0.9% during the first quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider's stock valued at $391,404,000 after purchasing an additional 89,373 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Truist Financial by 5.4% during the first quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider's stock valued at $330,408,000 after purchasing an additional 408,726 shares during the last quarter. Institutional investors own 71.28% of the company's stock.

Analyst Upgrades and Downgrades

TFC has been the topic of several recent analyst reports. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Citigroup raised shares of Truist Financial from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $44.00 to $55.00 in a report on Thursday, June 26th. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. TD Cowen initiated coverage on shares of Truist Financial in a research report on Thursday, May 15th. They issued a "hold" rating and a $44.00 target price on the stock. Finally, Raymond James Financial raised shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.47.

Truist Financial Stock Down 0.9%

TFC opened at $46.38 on Wednesday. The stock has a market capitalization of $59.81 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.75 and a beta of 0.88. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $44.67 and a two-hundred day moving average of $41.74.

Truist Financial (NYSE:TFC - Get Free Report) last announced its earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business's revenue for the quarter was down 406.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share. On average, research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial's dividend payout ratio is currently 56.68%.

Insider Buying and Selling at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the firm'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 completion of the sale, the insider directly owned 500 shares of the company's stock, valued at $22,595. This trade represents a 96.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

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.

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