Truist Financial Corporation $TFC Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its stake in shares of Truist Financial Corporation (NYSE:TFC) by 1.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,016,874 shares of the insurance provider’s stock after selling 14,583 shares during the period. Los Angeles Capital Management LLC’s holdings in Truist Financial were worth $50,040,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TFC. Maseco LLP increased its stake in Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after buying an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its stake in Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after buying an additional 431 shares during the period. Ancora Advisors LLC grew its stake in shares of Truist Financial by 259.1% in the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Bare Financial Services Inc grew its stake in shares of Truist Financial by 56.9% in the 4th quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 298 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its stake in shares of Truist Financial by 2,178.4% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 806 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TFC shares. JPMorgan Chase & Co. lowered their price objective 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. Royal Bank Of Canada raised their target price on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a report on Friday, April 17th. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Friday, May 1st. 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. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.59.

Truist Financial Price Performance

NYSE TFC opened at $49.24 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 stock has a market capitalization of $61.35 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. The company has a 50 day moving average price of $48.63 and a two-hundred day moving average price of $48.97. Truist Financial Corporation has a 12-month low of $38.83 and a 12-month high of $56.19.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations 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 was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 earnings per share. As a group, equities analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial’s payout ratio is 51.61%.

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.