Robeco Institutional Asset Management B.V. Sells 108,284 Shares of Truist Financial Corporation $TFC

Robeco Institutional Asset Management B.V. reduced its stake in Truist Financial Corporation (NYSE:TFC - Free Report) by 28.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,697 shares of the insurance provider's stock after selling 108,284 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Truist Financial were worth $11,981,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TFC. First Hawaiian Bank boosted its holdings in shares of Truist Financial by 8.6% during the 1st quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider's stock valued at $493,000 after buying an additional 948 shares in the last quarter. Code Waechter LLC bought a new position in Truist Financial during the 1st quarter valued at about $365,000. Cantor Fitzgerald Investment Advisors L.P. lifted its position in Truist Financial by 4.6% during the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider's stock valued at $17,927,000 after purchasing an additional 19,286 shares during the period. Pinnacle Financial Partners Inc grew its position in Truist Financial by 55.1% in the 1st quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider's stock worth $5,530,000 after purchasing an additional 47,717 shares during the period. Finally, Credit Agricole S A raised its stake in Truist Financial by 76.4% during the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider's stock valued at $20,591,000 after buying an additional 216,672 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the transaction, the insider directly owned 500 shares of the company's stock, valued at $22,595. The trade was a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $45.53 on Monday. The stock has a market cap of $58.71 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.46 and a beta of 0.88. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The firm has a fifty day moving average price of $45.15 and a 200-day moving average price of $42.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data 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). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The company had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $5.04 billion. During the same period last year, the business earned $0.91 earnings per share. The company's quarterly revenue was down 406.0% compared to the same quarter last year. Equities 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 declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.6%. The ex-dividend date was Friday, August 8th. Truist Financial's dividend payout ratio is presently 56.68%.

Analyst Ratings Changes

Several analysts recently commented on TFC shares. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $47.00 price objective on shares of Truist Financial in a report on Thursday, August 21st. Citigroup raised shares of Truist Financial from a "neutral" rating to a "buy" rating and upped their price target for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Raymond James Financial raised shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a report on Tuesday, July 8th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Truist Financial in a report on Saturday, September 27th. Finally, Evercore ISI increased their price target on shares of Truist Financial from $48.00 to $50.00 and gave the stock an "in-line" rating in a research report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.89.

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.

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