Plato Investment Management Ltd Sells 18,097 Shares of Truist Financial Corporation $TFC

Plato Investment Management Ltd lessened its position in shares of Truist Financial Corporation (NYSE:TFC) by 70.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,660 shares of the insurance provider’s stock after selling 18,097 shares during the period. Plato Investment Management Ltd’s holdings in Truist Financial were worth $379,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Alliance Wealth Advisors LLC boosted its holdings in shares of Truist Financial by 1.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 11,298 shares of the insurance provider’s stock worth $556,000 after acquiring an additional 205 shares during the period. Private Trust Co. NA boosted its holdings in shares of Truist Financial by 1.2% during the fourth quarter. Private Trust Co. NA now owns 18,778 shares of the insurance provider’s stock worth $924,000 after acquiring an additional 215 shares during the period. Aspiriant LLC boosted its holdings in shares of Truist Financial by 2.3% during the fourth quarter. Aspiriant LLC now owns 9,721 shares of the insurance provider’s stock worth $478,000 after acquiring an additional 219 shares during the period. Aprio Wealth Management LLC boosted its holdings in shares of Truist Financial by 2.7% during the third quarter. Aprio Wealth Management LLC now owns 8,564 shares of the insurance provider’s stock worth $392,000 after acquiring an additional 226 shares during the period. Finally, Keystone Financial Group Inc. boosted its holdings in shares of Truist Financial by 1.1% during the fourth quarter. Keystone Financial Group Inc. now owns 21,739 shares of the insurance provider’s stock worth $1,070,000 after acquiring an additional 227 shares during the period. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TFC shares. Morgan Stanley cut their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Royal Bank Of Canada boosted their price target on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Piper Sandler boosted their price target on Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. Evercore reiterated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Finally, TD Cowen boosted their price target on Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Stock Down 2.3%

Shares of TFC opened at $47.96 on Tuesday. Truist Financial Corporation has a one year low of $38.27 and a one year high of $56.19. The company has a market cap of $59.75 billion, a P/E ratio of 11.90, a P/E/G ratio of 0.84 and a beta of 0.92. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $47.96 and a two-hundred day simple moving average of $48.54.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share. Research analysts forecast that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. Truist Financial’s dividend payout ratio is 51.61%.

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.