Sigma Planning Corp Sells 1,935 Shares of Truist Financial Co. (NYSE:TFC)

Sigma Planning Corp trimmed its stake in shares of Truist Financial Co. (NYSE:TFCGet Rating) by 16.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,872 shares of the insurance provider’s stock after selling 1,935 shares during the quarter. Sigma Planning Corp’s holdings in Truist Financial were worth $468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of TFC. Fairfield Bush & CO. bought a new position in Truist Financial during the 1st quarter worth approximately $25,000. Swaine & Leidel Wealth Services LLC bought a new stake in shares of Truist Financial in the 1st quarter worth approximately $27,000. Providence Capital Advisors LLC grew its position in shares of Truist Financial by 54.9% in the 1st quarter. Providence Capital Advisors LLC now owns 1,413 shares of the insurance provider’s stock worth $36,000 after buying an additional 501 shares during the last quarter. Core Alternative Capital grew its position in shares of Truist Financial by 1,746.5% in the 1st quarter. Core Alternative Capital now owns 794 shares of the insurance provider’s stock worth $45,000 after buying an additional 751 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its position in shares of Truist Financial by 58.7% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 952 shares of the insurance provider’s stock worth $46,000 after buying an additional 352 shares during the last quarter. 73.31% of the stock is currently owned by institutional investors.

Truist Financial Stock Up 0.0 %

Shares of NYSE:TFC opened at $46.43 on Thursday. The stock has a fifty day simple moving average of $44.60 and a two-hundred day simple moving average of $46.96. The stock has a market capitalization of $61.60 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.18 and a beta of 1.07. Truist Financial Co. has a 12-month low of $40.01 and a 12-month high of $68.95. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58.

Truist Financial (NYSE:TFCGet Rating) last announced its quarterly earnings data on Tuesday, October 18th. The insurance provider reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.05). The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.96 billion. Truist Financial had a net margin of 26.16% and a return on equity of 12.13%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. On average, research analysts anticipate that Truist Financial Co. will post 4.92 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Wednesday, November 9th. Truist Financial’s dividend payout ratio is currently 47.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Truist Financial from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Monday. Barclays cut their price objective on Truist Financial from $61.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 19th. Royal Bank of Canada dropped their price target on Truist Financial from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 19th. Piper Sandler upgraded Truist Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $52.00 to $55.00 in a research report on Wednesday, September 28th. Finally, Evercore ISI lowered Truist Financial from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $54.00 to $47.00 in a research report on Wednesday, October 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and an average price target of $55.09.

Truist Financial Company Profile

(Get Rating)

Truist Financial Corp. operates as a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. The firm operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. The Consumer Banking and Wealth segment consists of Retail Community Banking, National Consumer Finance, Services, Payments, Wealth Management and Banking Products and Professional Services and Mortgage Banking.

Featured Stories

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

Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.