Truist Financial Corporation (NYSE:TFC) Shares Sold by Lbp Am Sa

LBP AM SA lowered its stake in Truist Financial Corporation (NYSE:TFC - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,248 shares of the insurance provider's stock after selling 6,703 shares during the quarter. LBP AM SA's holdings in Truist Financial were worth $6,594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Comerica Bank raised its holdings in Truist Financial by 3.6% in the 4th quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock valued at $19,499,000 after buying an additional 15,499 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Truist Financial by 81.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider's stock worth $48,085,000 after buying an additional 498,531 shares during the period. Cantor Fitzgerald Investment Advisors L.P. grew its position in shares of Truist Financial by 4.6% during the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider's stock worth $17,927,000 after buying an additional 19,286 shares during the period. Stifel Financial Corp grew its position in shares of Truist Financial by 2.8% during the 4th quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider's stock worth $97,291,000 after buying an additional 60,848 shares during the period. Finally, Pinnacle Financial Partners Inc grew its position in shares of Truist Financial by 55.1% during the 1st quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider's stock worth $5,530,000 after buying an additional 47,717 shares during the period. Institutional investors own 71.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TFC. Morgan Stanley cut their target price on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and increased their target price for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Piper Sandler cut their target price on Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. dropped their price objective on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, Argus set a $43.00 price objective on Truist Financial in a research note on Monday, April 21st. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.44.

Truist Financial Stock Up 0.3%

NYSE:TFC traded up $0.13 during midday trading on Friday, hitting $45.63. 4,232,474 shares of the company were exchanged, compared to its average volume of 8,741,255. The company has a fifty day simple moving average of $40.98 and a 200 day simple moving average of $42.01. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $59.76 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 1.68 and a beta of 0.85.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business posted $0.90 earnings per share. As a group, equities analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.56%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Truist Financial 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.