Strs Ohio Decreases Stock Position in Truist Financial Corporation $TFC

Strs Ohio cut its holdings in Truist Financial Corporation (NYSE:TFC) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 852,329 shares of the insurance provider’s stock after selling 11,773 shares during the period. Strs Ohio’s holdings in Truist Financial were worth $41,943,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Independent Advisor Alliance raised its holdings in shares of Truist Financial by 9.7% during the third quarter. Independent Advisor Alliance now owns 329,093 shares of the insurance provider’s stock worth $15,046,000 after purchasing an additional 29,191 shares during the period. Cullen Capital Management LLC boosted its holdings in shares of Truist Financial by 10.3% in the 3rd quarter. Cullen Capital Management LLC now owns 4,591,783 shares of the insurance provider’s stock valued at $209,936,000 after buying an additional 427,067 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Truist Financial by 18.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 169,030 shares of the insurance provider’s stock valued at $7,728,000 after buying an additional 26,530 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Truist Financial by 2.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 421,809 shares of the insurance provider’s stock worth $19,285,000 after acquiring an additional 10,706 shares during the period. Finally, Versor Investments LP raised its stake in Truist Financial by 64.4% during the third quarter. Versor Investments LP now owns 25,008 shares of the insurance provider’s stock worth $1,143,000 after acquiring an additional 9,800 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Down 1.0%

TFC stock opened at $50.98 on Friday. The firm’s 50-day moving average is $48.10 and its two-hundred day moving average is $48.28. The company has a market capitalization of $63.26 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 0.87 and a beta of 0.92. Truist Financial Corporation has a 52 week low of $38.27 and a 52 week high of $56.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter last year, the business earned $0.87 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts forecast that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

Insider Activity

In other news, CAO Cynthia B. Powell sold 3,500 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total value of $183,715.00. Following the sale, the chief accounting officer owned 667 shares of the company’s stock, valued at approximately $35,010.83. The trade was a 83.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of a number of research reports. Argus lifted their target price on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. TD Cowen increased their price target on Truist Financial from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price target on shares of Truist Financial in a report on Friday. Piper Sandler boosted their price objective on Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. Finally, Barclays downgraded Truist Financial from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $47.00 to $56.00 in a research note on Monday, January 5th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $55.59.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.