Truist Financial Co. (NYSE:TFC) Shares Sold by Israel Discount Bank of New York

Israel Discount Bank of New York reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,883 shares of the insurance provider’s stock after selling 321 shares during the period. Israel Discount Bank of New York’s holdings in Truist Financial were worth $549,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TFC. Morton Brown Family Wealth LLC boosted its holdings in shares of Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after buying an additional 649 shares during the period. OFI Invest Asset Management acquired a new position in Truist Financial during the 3rd quarter valued at about $26,000. Criterion Capital Advisors LLC acquired a new position in Truist Financial during the 4th quarter valued at about $38,000. Operose Advisors LLC acquired a new position in Truist Financial during the 3rd quarter valued at about $31,000. Finally, Tyler Stone Wealth Management acquired a new position in Truist Financial during the 3rd quarter valued at about $33,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Down 0.1 %

Shares of TFC stock traded down $0.04 during trading hours on Monday, reaching $38.13. 3,866,061 shares of the stock traded hands, compared to its average volume of 9,530,458. The business has a fifty day moving average price of $36.90 and a 200 day moving average price of $34.90. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29. The firm has a market capitalization of $50.89 billion, a PE ratio of -29.06, a PEG ratio of 2.01 and a beta of 1.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, equities research analysts forecast that Truist Financial Co. will post 3.27 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.46%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio is -157.58%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TFC. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Raymond James boosted their target price on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Royal Bank of Canada boosted their price target 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. UBS Group boosted their price target on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Jefferies Financial Group boosted their price target on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and an average price target of $41.97.

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.