Metis Global Partners LLC Lowers Stock Position in Truist Financial Co. (NYSE:TFC)

Metis Global Partners LLC cut its holdings in shares of Truist Financial Co. (NYSE:TFC) by 8.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 53,796 shares of the insurance provider’s stock after selling 4,879 shares during the period. Metis Global Partners LLC’s holdings in Truist Financial were worth $1,986,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Truist Financial by 0.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 513,851 shares of the insurance provider’s stock worth $14,701,000 after buying an additional 2,634 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Truist Financial by 10.3% in the third quarter. Mackenzie Financial Corp now owns 152,687 shares of the insurance provider’s stock worth $4,152,000 after purchasing an additional 14,230 shares during the last quarter. IFM Investors Pty Ltd increased its position in shares of Truist Financial by 3.7% during the third quarter. IFM Investors Pty Ltd now owns 280,475 shares of the insurance provider’s stock worth $8,024,000 after purchasing an additional 9,926 shares in the last quarter. Washington Capital Management Inc. purchased a new stake in shares of Truist Financial during the 3rd quarter valued at $343,000. Finally, NBT Bank N A NY boosted its position in shares of Truist Financial by 2.9% in the 3rd quarter. NBT Bank N A NY now owns 12,781 shares of the insurance provider’s stock worth $366,000 after purchasing an additional 366 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TFC. Wells Fargo & Company upped their target price on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. UBS Group increased their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Royal Bank of Canada boosted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Compass Point upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Finally, Citigroup upped their target price on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.88.

Truist Financial Price Performance

NYSE:TFC opened at $39.11 on Wednesday. The stock has a market capitalization of $52.20 billion, a PE ratio of -29.63, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07. Truist Financial Co. has a 52 week low of $26.49 and a 52 week high of $40.35. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock’s 50-day moving average price is $37.34 and its 200-day moving average price is $35.39.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the company earned $1.09 earnings per share. Truist Financial’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, equities analysts expect that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.32%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Insider Activity

In related news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.17% of the company’s stock.

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.