Truist Financial Corporation $TFC Shares Sold by US Bancorp DE

US Bancorp DE trimmed its position in Truist Financial Corporation (NYSE:TFC) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 371,975 shares of the insurance provider’s stock after selling 3,170 shares during the period. US Bancorp DE’s holdings in Truist Financial were worth $15,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Foster Victor Wealth Advisors LLC increased its position in shares of Truist Financial by 0.4% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock valued at $2,804,000 after acquiring an additional 242 shares during the period. Klingman & Associates LLC increased its position in shares of Truist Financial by 2.2% in the 1st quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock valued at $484,000 after acquiring an additional 248 shares during the period. Haverford Trust Co increased its position in shares of Truist Financial by 3.5% in the 1st quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock valued at $319,000 after acquiring an additional 262 shares during the period. Keystone Financial Group Inc. grew its position in Truist Financial by 1.3% during the 2nd quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock worth $942,000 after purchasing an additional 266 shares during the period. Finally, Manchester Capital Management LLC grew its position in Truist Financial by 8.0% during the 1st quarter. Manchester Capital Management LLC now owns 3,898 shares of the insurance provider’s stock worth $160,000 after purchasing an additional 288 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

NYSE:TFC opened at $42.32 on Friday. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $54.57 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.36 and a beta of 0.88. The stock’s 50-day moving average price is $45.16 and its 200-day moving average price is $42.17.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter last year, the business earned $0.91 earnings per share. Truist Financial’s revenue was down 406.0% on a year-over-year basis. As a group, equities analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.9%. The ex-dividend date was Friday, August 8th. Truist Financial’s payout ratio is presently 56.68%.

Insider Transactions at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the sale, the insider directly owned 500 shares in the company, valued at approximately $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday. Keefe, Bruyette & Woods downgraded Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price target on the stock. in a research report on Wednesday, July 9th. Morgan Stanley increased their price target on Truist Financial from $48.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Evercore ISI increased their price target on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.89.

About Truist Financial

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.