US Bancorp DE cut its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 7.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 375,145 shares of the insurance provider's stock after selling 31,107 shares during the quarter. US Bancorp DE's holdings in Truist Financial were worth $15,437,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors increased its stake in Truist Financial by 26.0% in the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock valued at $3,930,983,000 after buying an additional 18,712,246 shares during the last quarter. Northern Trust Corp raised its holdings in Truist Financial by 20.5% in the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after acquiring an additional 2,452,239 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Truist Financial by 13.9% during the 4th 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 buying an additional 1,307,252 shares during the period. FMR LLC raised its stake in Truist Financial by 109.1% in the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock worth $453,762,000 after purchasing an additional 5,457,053 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Truist Financial by 12.4% in the 4th quarter. Invesco Ltd. now owns 9,951,283 shares of the insurance provider's stock valued at $431,687,000 after purchasing an additional 1,101,256 shares during the last quarter. 71.28% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently commented on TFC shares. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and raised their target price for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. TD Cowen assumed coverage on shares of Truist Financial in a report on Thursday, May 15th. They set a "hold" rating and a $44.00 target price on the stock. Wall Street Zen upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Stephens cut their price target on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Argus set a $43.00 target price on Truist Financial in a report on Monday, April 21st. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Truist Financial has an average rating of "Moderate Buy" and a consensus target price of $48.65.
Check Out Our Latest Analysis on Truist Financial
Insiders Place Their Bets
In related news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction that occurred 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 owned 500 shares of the company's stock, valued at approximately $22,595. This represents a 96.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.
Truist Financial Stock Performance
Truist Financial stock traded up $0.04 during trading hours on Tuesday, reaching $43.45. 4,688,503 shares of the stock were exchanged, compared to its average volume of 8,385,103. The stock has a market cap of $56.03 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.62 and a beta of 0.87. The firm's 50 day moving average is $42.58 and its 200 day moving average is $42.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06.
Truist Financial (NYSE:TFC - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the prior year, the company earned $0.91 EPS. The business's revenue was down 406.0% on a year-over-year basis. Analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.8%. Truist Financial's dividend payout ratio is 56.68%.
Truist Financial Profile
(
Free Report)
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.
Featured Stories
Before you consider Truist Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Truist Financial wasn't on the list.
While Truist Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
