Truist Financial Co. (NYSE:TFC) Shares Sold by Simmons Bank

Simmons Bank lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 25.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,013 shares of the insurance provider’s stock after selling 2,678 shares during the quarter. Simmons Bank’s holdings in Truist Financial were worth $296,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC boosted its position in shares of Truist Financial by 6.1% in the fourth quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after acquiring an additional 1,731 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Truist Financial by 53.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after buying an additional 117,524 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Truist Financial by 3,359.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after purchasing an additional 1,015,338 shares in the last quarter. Loudon Investment Management LLC boosted its holdings in Truist Financial by 18.5% in the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after acquiring an additional 20,490 shares during the period. Finally, Pathstone Family Office LLC boosted its stake in shares of Truist Financial by 84.8% in the third quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock valued at $2,786,000 after purchasing an additional 44,659 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of recent analyst reports. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Wells Fargo & Company upped their price target on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Piper Sandler boosted their price objective on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, UBS Group boosted their price objective on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.06.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 1.2 %

NYSE TFC traded up $0.45 during trading on Wednesday, reaching $39.56. 3,756,408 shares of the company’s stock were exchanged, compared to its average volume of 9,390,680. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a fifty-two week low of $26.49 and a fifty-two week high of $40.35. The company’s fifty day simple moving average is $37.34 and its 200-day simple moving average is $35.39. The firm has a market capitalization of $52.80 billion, a PE ratio of -29.85, a P/E/G ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company posted $1.09 earnings per share. Sell-side analysts predict that Truist Financial Co. will post 3.3 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.26%. Truist Financial’s dividend payout ratio 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.