Tompkins Financial Corp Has $93,000 Holdings in Truist Financial Co. (NYSE:TFC)

Tompkins Financial Corp cut its holdings in shares of Truist Financial Co. (NYSE:TFC) by 45.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,080 shares of the insurance provider’s stock after selling 2,600 shares during the period. Tompkins Financial Corp’s holdings in Truist Financial were worth $93,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caprock Group LLC increased its stake in Truist Financial by 49.4% during the 1st quarter. Caprock Group LLC now owns 21,522 shares of the insurance provider’s stock worth $734,000 after purchasing an additional 7,118 shares in the last quarter. Financial Management Professionals Inc. raised its holdings in shares of Truist Financial by 874.9% during the first quarter. Financial Management Professionals Inc. now owns 5,118 shares of the insurance provider’s stock worth $175,000 after acquiring an additional 4,593 shares during the period. 1834 Investment Advisors Co. lifted its position in Truist Financial by 122.1% in the 1st quarter. 1834 Investment Advisors Co. now owns 138,195 shares of the insurance provider’s stock valued at $4,712,000 after acquiring an additional 75,984 shares in the last quarter. Vise Technologies Inc. boosted its stake in Truist Financial by 31.1% in the 4th quarter. Vise Technologies Inc. now owns 8,249 shares of the insurance provider’s stock worth $355,000 after purchasing an additional 1,959 shares during the period. Finally, Legacy Capital Wealth Partners LLC bought a new position in Truist Financial during the 1st quarter worth about $547,000. 71.11% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

TFC stock traded down $0.43 during mid-day trading on Tuesday, hitting $28.24. The stock had a trading volume of 1,798,494 shares, compared to its average volume of 12,083,507. The firm has a fifty day simple moving average of $31.19 and a 200 day simple moving average of $31.93. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $53.34. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $37.62 billion, a P/E ratio of 6.64, a P/E/G ratio of 1.75 and a beta of 1.05.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.92 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.08). The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.97 billion. Truist Financial had a net margin of 20.17% and a return on equity of 11.73%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. As a group, research analysts forecast that Truist Financial Co. will post 3.71 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.08 annualized dividend and a dividend yield of 7.37%. Truist Financial’s dividend payout ratio is currently 48.15%.

Analysts Set New Price Targets

TFC has been the subject of several recent research reports. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. HSBC assumed coverage on shares of Truist Financial in a research note on Thursday, September 7th. They set a “hold” rating and a $29.00 price target for the company. Morgan Stanley cut their price objective on shares of Truist Financial from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, July 21st. Barclays lowered their price target on shares of Truist Financial from $44.00 to $40.00 in a research note on Tuesday, June 27th. Finally, Stephens reduced their price objective on shares of Truist Financial from $40.00 to $37.00 and set an “equal weight” rating for the company in a research note on Monday, July 24th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $39.83.

About Truist Financial

Truist Financial Corporation, a holding 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.