Tweedy Browne Co LLC Sells 27,304 Shares of Truist Financial Corporation $TFC

Key Points

• Tweedy Browne Co LLC reduced its stake in Truist Financial Corporation by 4.5%, selling 27,304 shares during the second quarter, which now constitutes about 2.3% of its portfolio.
• Truist Financial's most recent quarterly earnings report showed a net margin of 16.82%, with revenue of $5.04 billion, although it missed analysts' earnings estimates by $0.02.
• The company recently announced a quarterly dividend of $0.52 per share, which represents an annualized yield of 5.1% and a dividend payout ratio of 56.68%.

Tweedy Browne Co LLC decreased its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 580,542 shares of the insurance provider's stock after selling 27,304 shares during the quarter. Truist Financial comprises about 2.3% of Tweedy Browne Co LLC's portfolio, making the stock its 12th biggest holding. Tweedy Browne Co LLC's holdings in Truist Financial were worth $24,958,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of TFC. Wealth Preservation Advisors LLC acquired a new stake in shares of Truist Financial in the first quarter valued at approximately $25,000. Centennial Bank AR raised its stake in Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 580 shares during the period. Motco lifted its holdings in 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 purchasing an additional 649 shares during the last quarter. Ramirez Asset Management Inc. boosted its position in Truist Financial by 60.0% during the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider's stock worth $34,000 after purchasing an additional 300 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in shares of Truist Financial by 115.3% in the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 468 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Transactions at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the 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 completion of the sale, the insider directly owned 500 shares in the company, valued at $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Price Performance

TFC stock opened at $40.99 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The firm has a market cap of $52.85 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.38 and a beta of 0.88. The company's 50-day moving average price is $45.12 and its two-hundred day moving average price is $42.21.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $5.04 billion. During the same period last year, the company posted $0.91 EPS. The business's revenue was down 406.0% on a year-over-year basis. On average, analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 5.1%. Truist Financial's dividend payout ratio (DPR) is currently 56.68%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TFC. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and raised their target price for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. Raymond James Financial restated an "outperform" rating on shares of Truist Financial in a research report on Tuesday, October 7th. Evercore ISI boosted their price objective on Truist Financial from $48.00 to $50.00 and gave the stock an "in-line" rating in a report on Tuesday, September 30th. Morgan Stanley increased their target price on Truist Financial from $48.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Monday, September 29th. Finally, Wells Fargo & Company restated an "equal weight" rating and issued a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.89.

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.

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