Truist Financial Co. (NYSE:TFC) Holdings Cut by Brinker Capital Investments LLC

Brinker Capital Investments LLC decreased its stake in Truist Financial Co. (NYSE:TFCGet Rating) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 196,938 shares of the insurance provider’s stock after selling 7,296 shares during the quarter. Brinker Capital Investments LLC’s holdings in Truist Financial were worth $11,167,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verity Asset Management Inc. purchased a new stake in Truist Financial in the 1st quarter worth approximately $64,000. Davis R M Inc. increased its stake in shares of Truist Financial by 18.2% during the 1st quarter. Davis R M Inc. now owns 9,213 shares of the insurance provider’s stock worth $522,000 after purchasing an additional 1,421 shares during the last quarter. IndexIQ Advisors LLC increased its stake in shares of Truist Financial by 1.0% during the 1st quarter. IndexIQ Advisors LLC now owns 22,431 shares of the insurance provider’s stock worth $1,272,000 after purchasing an additional 232 shares during the last quarter. Hanson & Doremus Investment Management increased its stake in shares of Truist Financial by 75.3% during the 1st quarter. Hanson & Doremus Investment Management now owns 761 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 327 shares during the last quarter. Finally, Prudential PLC increased its stake in shares of Truist Financial by 107.1% during the 1st quarter. Prudential PLC now owns 68,286 shares of the insurance provider’s stock worth $3,872,000 after purchasing an additional 35,315 shares during the last quarter. Hedge funds and other institutional investors own 73.31% of the company’s stock.

Truist Financial Stock Performance

NYSE:TFC opened at $48.48 on Monday. The firm has a market capitalization of $64.30 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.54. Truist Financial Co. has a 12-month low of $44.68 and a 12-month high of $68.95. The firm has a 50-day moving average price of $48.75 and a 200 day moving average price of $50.87.

Truist Financial (NYSE:TFCGet Rating) last released its quarterly earnings data on Tuesday, July 19th. The insurance provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.03. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.65 billion. Truist Financial had a return on equity of 12.14% and a net margin of 27.25%. The company’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 EPS. Research analysts anticipate that Truist Financial Co. will post 4.99 earnings per share for the current fiscal year.

Truist Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 12th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, August 11th. This is a boost from Truist Financial’s previous quarterly dividend of $0.48. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.29%. Truist Financial’s dividend payout ratio (DPR) is presently 47.17%.

Analyst Upgrades and Downgrades

TFC has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of Truist Financial from $63.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 12th. StockNews.com lowered shares of Truist Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. Barclays lowered their target price on shares of Truist Financial to $61.00 in a research note on Friday, July 22nd. Stephens lowered their target price on shares of Truist Financial from $74.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 7th. Finally, Wells Fargo & Company lowered their target price on shares of Truist Financial from $69.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Truist Financial has a consensus rating of “Hold” and an average target price of $57.39.

Insider Activity

In other news, CEO William H. Rogers, Jr. sold 142,606 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $47.78, for a total transaction of $6,813,714.68. Following the completion of the sale, the chief executive officer now owns 862,590 shares of the company’s stock, valued at $41,214,550.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

About Truist Financial

(Get Rating)

Truist Financial Corporation, a holding 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.

See Also

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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