Cullen Capital Management LLC Cuts Stock Holdings in Truist Financial Corporation $TFC

Cullen Capital Management LLC lowered its position in Truist Financial Corporation (NYSE:TFC) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,164,716 shares of the insurance provider’s stock after selling 316,931 shares during the period. Truist Financial comprises approximately 2.0% of Cullen Capital Management LLC’s holdings, making the stock its 20th largest position. Cullen Capital Management LLC owned about 0.32% of Truist Financial worth $179,041,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Capital A Wealth Management LLC lifted its holdings in shares of Truist Financial by 1,189.5% in the 2nd quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock valued at $32,000 after buying an additional 678 shares during the period. CacheTech Inc. acquired a new position in Truist Financial during the second quarter worth $594,000. Adams Wealth Management purchased a new position in Truist Financial in the second quarter worth $594,000. Caldwell Trust Co acquired a new stake in Truist Financial in the second quarter valued at $293,000. Finally, Valeo Financial Advisors LLC lifted its holdings in Truist Financial by 20.7% in the second quarter. Valeo Financial Advisors LLC now owns 21,952 shares of the insurance provider’s stock valued at $944,000 after acquiring an additional 3,771 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 5,160 shares of Truist Financial stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total transaction of $239,682.00. Following the completion of the sale, the director owned 10,153 shares in the company, valued at approximately $471,606.85. This trade represents a 33.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TFC. Wall Street Zen cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. TD Cowen upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, October 21st. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Morgan Stanley boosted their price target on Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Finally, UBS Group set a $55.00 price objective on Truist Financial in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.60.

Truist Financial Stock Up 0.4%

TFC stock opened at $49.89 on Monday. 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 company’s 50 day simple moving average is $45.12 and its 200-day simple moving average is $44.36. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $50.26. The firm has a market capitalization of $63.82 billion, a PE ratio of 13.41, a P/E/G ratio of 1.08 and a beta of 0.90.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.Truist Financial’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. Equities analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. Truist Financial’s dividend payout ratio (DPR) is presently 55.91%.

Truist Financial Profile

Truist Financial Corporation, a financial services 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.