Truist Financial Co. (NYSE:TFC) Shares Sold by Lbp Am Sa

Lbp Am Sa reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 61.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,109 shares of the insurance provider’s stock after selling 41,918 shares during the period. Lbp Am Sa’s holdings in Truist Financial were worth $1,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Silverlake Wealth Management LLC purchased a new position in Truist Financial during the fourth quarter worth about $237,000. Country Club Bank GFN purchased a new position in Truist Financial during the fourth quarter worth about $207,000. Oak Thistle LLC purchased a new position in Truist Financial during the fourth quarter worth about $551,000. State of Michigan Retirement System boosted its stake in Truist Financial by 0.8% during the fourth quarter. State of Michigan Retirement System now owns 394,043 shares of the insurance provider’s stock worth $14,548,000 after buying an additional 3,300 shares during the period. Finally, TIAA Trust National Association boosted its stake in Truist Financial by 51.5% during the fourth quarter. TIAA Trust National Association now owns 25,652 shares of the insurance provider’s stock worth $947,000 after buying an additional 8,725 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on TFC. Evercore ISI reissued an “in-line” rating and issued a $44.00 price objective on shares of Truist Financial in a research note on Thursday, May 9th. Stephens raised their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group raised their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.30.

Insider Activity at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO William H. Rogers, Jr. bought 57,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Truist Financial Stock Performance

Shares of Truist Financial stock traded down $1.65 during trading on Friday, reaching $41.70. The company’s stock had a trading volume of 4,732,346 shares, compared to its average volume of 8,482,697. The company has a 50-day moving average price of $39.24 and a two-hundred day moving average price of $37.94. The firm has a market cap of $55.80 billion, a PE ratio of -31.80, a P/E/G ratio of 2.09 and a beta of 1.06. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. On average, analysts forecast that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.99%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

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.