Headlands Technologies LLC Lowers Stake in Truist Financial Corporation (NYSE:TFC)

Key Points

• Headlands Technologies LLC reduced its stake in Truist Financial Corporation by 89.8%, ending the first quarter with only 1,444 shares valued at $59,000.
• Truist Financial recently announced a quarterly dividend of $0.52 per share, which will be paid on September 2nd, resulting in an annualized yield of 4.7%.
• An earnings report revealed that Truist Financial's EPS for the latest quarter was $0.91, falling short of analysts' expectations by $0.02, with revenue hitting $5.04 billion.

Headlands Technologies LLC lessened its holdings in Truist Financial Corporation (NYSE:TFC - Free Report) by 89.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,444 shares of the insurance provider's stock after selling 12,655 shares during the period. Headlands Technologies LLC's holdings in Truist Financial were worth $59,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TFC. Navigoe LLC bought a new stake in Truist Financial in the 4th quarter worth about $26,000. Centennial Bank AR grew its position in Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock worth $30,000 after purchasing an additional 580 shares in the last quarter. Motco grew its position in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 649 shares during the period. Meeder Asset Management Inc. grew its position in shares of Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 468 shares during the period. Finally, Sierra Ocean LLC grew its position in shares of Truist Financial by 64.4% during the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock valued at $37,000 after acquiring an additional 352 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

NYSE TFC traded down $0.45 on Friday, hitting $44.50. The stock had a trading volume of 6,876,737 shares, compared to its average volume of 8,572,996. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $57.38 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.67 and a beta of 0.87. The firm has a 50-day moving average of $43.24 and a 200-day moving average of $41.93.

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

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, August 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. Truist Financial's dividend payout ratio (DPR) is 56.68%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Citigroup raised shares of Truist Financial from a "neutral" rating to a "buy" rating and increased their target price for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Piper Sandler reduced their target price on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Barclays reduced their target price on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods downgraded shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price for the company. in a research report on Wednesday, July 9th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.65.

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 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 sale, the insider owned 500 shares in the company, valued at approximately $22,595. This trade represents a 96.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company's stock.

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.