Truist Financial Corporation (NYSE:TFC) Shares Sold by Baugh & Associates LLC

Baugh & Associates LLC lessened its position in Truist Financial Corporation (NYSE:TFC) by 0.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 135,027 shares of the insurance provider’s stock after selling 510 shares during the period. Truist Financial makes up 2.7% of Baugh & Associates LLC’s investment portfolio, making the stock its 17th largest holding. Baugh & Associates LLC’s holdings in Truist Financial were worth $5,322,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TFC. Capital International Investors raised its stake in shares of Truist Financial by 26.0% during the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after buying an additional 18,712,246 shares in the last quarter. Norges Bank acquired a new position in shares of Truist Financial during the 4th quarter worth $402,828,000. FMR LLC increased its holdings in shares of Truist Financial by 109.1% in the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock valued at $453,762,000 after purchasing an additional 5,457,053 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Truist Financial during the fourth quarter worth about $198,051,000. Finally, Northern Trust Corp boosted its holdings in Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock worth $626,154,000 after buying an additional 2,452,239 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 0.0%

TFC opened at $41.46 on Thursday. The company has a market cap of $54.29 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The firm has a 50 day moving average price of $39.40 and a 200 day moving average price of $42.04.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm posted $0.90 EPS. Sell-side analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.02%. Truist Financial’s dividend payout ratio is currently 61.36%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TFC shares. JPMorgan Chase & Co. reduced their price target on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Raymond James Financial lowered shares of Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Morgan Stanley dropped their target price on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. TD Cowen initiated coverage on shares of Truist Financial in a research report on Thursday, May 15th. They issued a “hold” rating and a $44.00 price target on the stock. Finally, Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and an average price target of $47.83.

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.