Vident Advisory LLC Reduces Holdings in Truist Financial Co. (NYSE:TFC)

Vident Advisory LLC lessened its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,043 shares of the insurance provider's stock after selling 11,854 shares during the quarter. Vident Advisory LLC's holdings in Truist Financial were worth $2,431,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the fourth quarter worth $26,000. Navigoe LLC acquired a new position in Truist Financial during the fourth quarter worth $26,000. Curio Wealth LLC acquired a new position in Truist Financial during the fourth quarter worth $45,000. Brown Lisle Cummings Inc. acquired a new position in Truist Financial during the fourth quarter worth $55,000. Finally, TCTC Holdings LLC lifted its stake in Truist Financial by 28.1% during the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock worth $57,000 after purchasing an additional 287 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of research reports. Citigroup decreased their price target on Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods cut their price objective on Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company cut their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, Morgan Stanley cut their price objective on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

Truist Financial Stock Down 0.5%

NYSE:TFC traded down $0.18 during trading hours on Friday, hitting $39.31. The company's stock had a trading volume of 7,394,255 shares, compared to its average volume of 8,277,936. The stock has a market capitalization of $51.48 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. The stock has a fifty day moving average of $38.79 and a 200-day moving average of $43.11. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter in the prior year, the company posted $0.90 earnings per share. On average, equities analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend is Friday, May 9th. Truist Financial's payout ratio is 61.36%.

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.