Truist Financial Co. (NYSE:TFC) Shares Bought by InterOcean Capital Group LLC

InterOcean Capital Group LLC raised its holdings in Truist Financial Co. (NYSE:TFC) by 1.1% during the 4th quarter, Holdings Channel reports. The firm owned 40,950 shares of the insurance provider’s stock after buying an additional 451 shares during the quarter. InterOcean Capital Group LLC’s holdings in Truist Financial were worth $1,512,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TFC. Vanguard Group Inc. lifted its position in shares of Truist Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after acquiring an additional 365,871 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Truist Financial by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after acquiring an additional 1,458,248 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Truist Financial by 5.0% in the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after acquiring an additional 732,801 shares in the last quarter. Morgan Stanley lifted its position in shares of Truist Financial by 0.3% in the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after acquiring an additional 39,510 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Truist Financial by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock valued at $322,395,000 after acquiring an additional 883,416 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Ratings Changes

TFC has been the topic of several research reports. HSBC raised their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. UBS Group lifted their price objective on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Stephens lifted their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Finally, Piper Sandler lifted their price objective on Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial Trading Down 1.4 %

TFC stock traded down $0.55 during midday trading on Wednesday, hitting $38.99. 2,028,277 shares of the company’s stock were exchanged, compared to its average volume of 9,048,021. The business has a 50-day simple moving average of $37.97 and a two-hundred day simple moving average of $36.17. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $52.17 billion, a PE ratio of -29.61, a P/E/G ratio of 1.94 and a beta of 1.07. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $40.51.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The company’s revenue was down 8.8% on a year-over-year basis. On average, sell-side analysts predict that Truist Financial Co. will post 3.34 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.33%. Truist Financial’s payout ratio is presently -157.58%.

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.