Truist Financial Corporation $TFC Shares Sold by Cwm LLC

Key Points

• Cwm LLC trimmed its stake in Truist by 21.0%, selling 32,468 shares and leaving 122,191 shares worth about $6.01 million, while institutional investors own roughly 71.28% of the stock.
• Truist beat expectations with $1.09 EPS and $5.20 billion in revenue for the quarter, recently paid a quarterly dividend of $0.52 (annualized yield ~4.1%), and carries a MarketBeat consensus rating of “Moderate Buy” with a target of $55.41.
• Company insiders have been selling: CFO Michael Baron Maguire sold 13,000 shares and CAO Cynthia B. Powell sold 3,500 shares, leaving insiders with about 0.15% ownership.

Cwm LLC trimmed its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 21.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,191 shares of the insurance provider's stock after selling 32,468 shares during the period. Cwm LLC's holdings in Truist Financial were worth $6,013,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TFC. Brighton Jones LLC grew its stake in Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock worth $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Woodline Partners LP grew its stake in Truist Financial by 39.5% in the first quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider's stock worth $4,575,000 after purchasing an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Truist Financial in the second quarter worth about $575,000. AXA S.A. grew its stake in Truist Financial by 23.1% in the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider's stock worth $1,126,000 after purchasing an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC grew its stake in Truist Financial by 20.1% in the second quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider's stock worth $292,000 after purchasing an additional 1,134 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TFC shares. JPMorgan Chase & Co. decreased their price target on Truist Financial from $57.00 to $51.50 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Weiss Ratings raised shares of Truist Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday. Piper Sandler raised their target price on shares of Truist Financial from $50.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, January 22nd. Jefferies Financial Group reissued a "mixed" rating and issued a $45.00 target price on shares of Truist Financial in a report on Friday. Finally, TD Cowen raised their target price on shares of Truist Financial from $59.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Truist Financial has an average rating of "Moderate Buy" and a consensus target price of $55.41.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $51.07 on Wednesday. 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 firm's 50-day moving average price is $48.27 and its two-hundred day moving average price is $47.96. Truist Financial Corporation has a 52-week low of $35.67 and a 52-week high of $56.19. The stock has a market capitalization of $63.37 billion, a P/E ratio of 12.67, a P/E/G ratio of 0.88 and a beta of 0.89.

Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company posted $0.87 earnings per share. Truist Financial's revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts forecast that Truist Financial Corporation will post 4.44 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, February 13th. Truist Financial's payout ratio is 51.61%.

Insider Buying and Selling

In other news, CFO Michael Baron Maguire sold 13,000 shares of Truist Financial stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $50.13, for a total transaction of $651,690.00. Following the sale, the chief financial officer owned 74,323 shares of the company's stock, valued at approximately $3,725,811.99. The trade was a 14.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Cynthia B. Powell sold 3,500 shares of Truist Financial stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the sale, the chief accounting officer directly owned 667 shares in the company, valued at approximately $35,010.83. This trade represents a 83.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.15% of the company's stock.

Truist Financial Company 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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