Truist Financial Corporation (NYSE:TFC) Shares Sold by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. lessened its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 24.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,998 shares of the insurance provider's stock after selling 6,010 shares during the quarter. Tandem Investment Advisors Inc.'s holdings in Truist Financial were worth $782,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital International Investors boosted its position in shares of Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock worth $3,930,983,000 after buying an additional 18,712,246 shares during the period. Geode Capital Management LLC grew its position in Truist Financial by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock valued at $1,210,348,000 after acquiring an additional 534,740 shares in the last quarter. Amundi raised its stake in shares of Truist Financial by 6.5% during the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock valued at $1,040,718,000 after purchasing an additional 1,450,323 shares during the period. Northern Trust Corp raised its stake in shares of Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after purchasing an additional 2,452,239 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Truist Financial by 13.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider's stock worth $465,827,000 after purchasing an additional 1,307,252 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Stock Performance

NYSE TFC traded up $0.20 during trading hours on Friday, hitting $45.23. The company had a trading volume of 5,612,374 shares, compared to its average volume of 8,262,880. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The firm has a market cap of $59.23 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.67 and a beta of 0.85. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $40.29 and a 200-day simple moving average of $41.95.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. During the same period last year, the firm posted $0.90 EPS. Equities analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is 61.36%.

Analysts Set New Price Targets

Several research firms recently issued reports on TFC. Raymond James Financial downgraded shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Wells Fargo & Company lowered their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Stephens cut their target price on Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, Morgan Stanley decreased their price target on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial has an average rating of "Moderate Buy" and an average target price of $48.44.

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.