Truist Financial Corporation $TFC Shares Sold by Barclays PLC

Barclays PLC lowered its holdings in Truist Financial Corporation (NYSE:TFC) by 30.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,781,633 shares of the insurance provider’s stock after selling 1,678,833 shares during the quarter. Barclays PLC owned 0.30% of Truist Financial worth $172,896,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Aprio Wealth Management LLC increased its holdings in Truist Financial by 2.7% in the third quarter. Aprio Wealth Management LLC now owns 8,564 shares of the insurance provider’s stock valued at $392,000 after purchasing an additional 226 shares during the last quarter. Leisure Capital Management boosted its holdings in Truist Financial by 1.2% during the third quarter. Leisure Capital Management now owns 19,985 shares of the insurance provider’s stock worth $914,000 after buying an additional 230 shares during the last quarter. Smith Thornton Advisors LLC grew its position in shares of Truist Financial by 4.1% during the 3rd quarter. Smith Thornton Advisors LLC now owns 5,900 shares of the insurance provider’s stock worth $270,000 after buying an additional 231 shares during the period. Gries Financial LLC grew its position in shares of Truist Financial by 4.4% during the 3rd quarter. Gries Financial LLC now owns 5,507 shares of the insurance provider’s stock worth $252,000 after buying an additional 233 shares during the period. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Truist Financial by 6.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 3,730 shares of the insurance provider’s stock valued at $170,000 after acquiring an additional 237 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Down 4.3%

TFC opened at $46.40 on Friday. The stock has a market capitalization of $57.96 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.79 and a beta of 0.87. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $56.19. The firm’s fifty day simple moving average is $51.01 and its 200 day simple moving average is $47.70.

Truist Financial (NYSE:TFC) last released its earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). The firm had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $5.32 billion. Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.Truist Financial’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. As a group, research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial declared that its board has authorized a share repurchase plan on Tuesday, December 16th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the insurance provider to reacquire up to 15.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, February 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. Truist Financial’s dividend payout ratio (DPR) is presently 54.59%.

Insider Buying and Selling

In other news, CFO Michael Baron Maguire sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.13, for a total transaction of $651,690.00. Following the completion of the transaction, the chief financial officer directly owned 74,323 shares of the company’s stock, valued at $3,725,811.99. This trade represents a 14.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Cynthia B. Powell sold 3,500 shares of Truist Financial stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the sale, the chief accounting officer owned 667 shares in the company, valued at $35,010.83. This trade represents a 83.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $56.00 to $69.00 in a research report on Tuesday, February 17th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $49.00 to $53.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Piper Sandler increased their target price on shares of Truist Financial from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. Barclays cut shares of Truist Financial from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $47.00 to $56.00 in a research report on Monday, January 5th. Finally, Raymond James Financial boosted their price target on shares of Truist Financial from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.47.

Truist Financial Company Profile

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.