Strs Ohio Sells 44,795 Shares of Truist Financial Corporation $TFC

Strs Ohio reduced its stake in shares of Truist Financial Corporation (NYSE:TFC) by 5.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 807,534 shares of the insurance provider’s stock after selling 44,795 shares during the period. Strs Ohio’s holdings in Truist Financial were worth $37,122,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of TFC. 3Chopt Investment Partners LLC grew its stake in Truist Financial by 1.3% during the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after buying an additional 193 shares in the last quarter. IFP Advisors Inc raised its position in shares of Truist Financial by 2.4% in the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after buying an additional 194 shares in the last quarter. AlphaCore Capital LLC raised its position in shares of Truist Financial by 8.3% in the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after buying an additional 199 shares in the last quarter. CYBER HORNET ETFs LLC lifted its holdings in shares of Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after acquiring an additional 199 shares during the period. Finally, Mindset Wealth Management LLC lifted its holdings in shares of Truist Financial by 0.6% during the 4th quarter. Mindset Wealth Management LLC now owns 34,667 shares of the insurance provider’s stock worth $1,706,000 after acquiring an additional 201 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC stock opened at $50.95 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market cap of $63.47 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.87 and a beta of 0.89. The company’s fifty day simple moving average is $49.17 and its 200 day simple moving average is $49.40. Truist Financial Corporation has a 12-month low of $40.78 and a 12-month high of $56.19.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 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 quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 EPS. On average, analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is currently 51.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TFC shares. JPMorgan Chase & Co. reduced their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Friday, May 1st. Jefferies Financial Group restated a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a research report on Friday, April 17th. Wall Street Zen cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. Finally, Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.26.

About Truist Financial

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.