Truist Financial Corp Sells 297,676 Shares of Truist Financial Corporation $TFC

Key Points

• Truist Financial Corp cut its stake in Truist Financial (NYSE:TFC) by 6.1%, selling 297,676 shares and ending the quarter with 4,571,339 shares valued at about $224.96 million.
• Truist beat estimates for the quarter with $1.09 EPS vs. $1.00 expected and revenue of $5.20B (up 5% year-over-year), reporting a net margin of 18.14% and ROE of 9.55%.
• The company declared a quarterly dividend of $0.52 per share (ex-dividend May 8; ~4.1% yield), trades at a P/E of 12.65, and carries a consensus analyst rating of "Moderate Buy" with a $55.59 target.

Truist Financial Corp reduced its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,571,339 shares of the insurance provider's stock after selling 297,676 shares during the period. Truist Financial Corp owned 0.36% of Truist Financial worth $224,956,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Avidian Wealth Enterprises LLC acquired a new stake in Truist Financial during the 4th quarter worth about $209,000. FSA Advisors Inc. acquired a new stake in Truist Financial during the 4th quarter worth about $794,000. AlphaStar Capital Management LLC grew its holdings in Truist Financial by 20.7% during the 4th quarter. AlphaStar Capital Management LLC now owns 24,093 shares of the insurance provider's stock worth $1,186,000 after acquiring an additional 4,124 shares during the period. Souders Financial Advisors grew its holdings in Truist Financial by 4.8% during the 4th quarter. Souders Financial Advisors now owns 8,706 shares of the insurance provider's stock worth $428,000 after acquiring an additional 398 shares during the period. Finally, Ellis Investment Partners LLC acquired a new stake in Truist Financial during the 4th quarter worth about $203,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

Truist Financial stock opened at $50.98 on Monday. Truist Financial Corporation has a 52 week low of $38.27 and a 52 week high of $56.19. The company's 50 day moving average price is $48.10 and its two-hundred day moving average price is $48.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market cap of $63.26 billion, a P/E ratio of 12.65, a P/E/G ratio of 0.87 and a beta of 0.92.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.18 billion. During the same quarter last year, the firm earned $0.87 EPS. The company's quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. Truist Financial's dividend payout ratio (DPR) is currently 51.61%.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Truist Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday. Argus raised their target price on Truist Financial from $54.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, January 23rd. Jefferies Financial Group restated a "mixed" rating and issued a $45.00 target price on shares of Truist Financial in a research note on Friday, April 17th. Royal Bank Of Canada raised their target price on Truist Financial from $51.00 to $53.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Finally, Morgan Stanley reduced their target price on Truist Financial from $63.00 to $62.00 and set an "overweight" rating for the company in a research note on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $55.59.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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